Life is full of uncertainty and given the rise of diseases each day the chance of heavy medical expenditure can freak out everyone. No matter how much you earn, spending all your savings on your treatment can cause you and your family bankruptcy. Private hospitals are not at all cheap and nor can you afford to lose time waiting in long queues in a government hospitals. So, the remedy of all this lies in a critical illness insurance.
What is critical illness?
Critical illness implies life taking malady like Cancer, renalfailure, Major Organ Transplantation, Paralysis, Coma, and so forth. Critical Illness insurance is a policy in which the insurance provider needs to pay sum of money if the policyholder is determined to have any of the predefined illnesses.
For what reason do I require Critical Illness Policy?
Survival advantage: If the policyholder experiences certain particular critical conditions then the insurance organization gives a singular amount, tax exempt installment to a policy holder. The policy holder needs to survive a base number of days from when the illness was first analyzed which can likewise be called as Survival period.
Cost of critical illness is high: Cost of critical illness is high. There may be probability that money to pay for medical medicines are not secured by your health plans. So you may require Critical Illness insurance policy to cover every one of the costs identified with the recorded critical sicknesses.
Monetary crisis: Cost of critical illness is quite high. Bearing those medicines is not some thing very easy. It’s a bit much that your health insurance quotes may bolster for such critical illness as the treatment cost is substantially higher.
Single amount advantage: The insurance organization influences a knot to sum money installment if the policy holder is determined to have one of the predefined illnesses on a pre decided list.
The critical illnesses covered by the critical illness policy generally are:
- Cancer
- Stroke
- Heart Attack
- Coronary Artery Bypass Surgery
- Kidney Failure
- Major Organ Transplantation
- Multiple Sclerosis
- Coma
- Paralysis
- Dismemberment
- Loss of Independent Existence
- Aortic surgery
- Blindness
- Deafness
- Muteness (loss of speech)
- Major Burns
- Benign Brain Tumor
- Occupational Injury – HIV
- Motor Neuron Disease
- Alzheimer’s Disease
- Parkinson’s Disease
- Cystic Fibrosis
- Heart Valve Replacement
The circumstances mostly excluded by many insurers are:
- HIV/AIDS infection
- Death within 30 days of diagnosis of critical illness
- Any illness due to smoking, tobacco, alcohol or drug intake treatment done outside India
- Critical conditions or consequences due to pregnancy or childbirth, including Cesarean
- Infertility treatment
- Critical Illness diagnosed within 90 days from the inception of the policy.
- Any dental care or cosmetic surgery War, terrorism, civil war, navy or military operations
- Illness occurring due to internal or external congenital disorder
The Bottom Line:
Treating a critical illness requires some serious energy and cash. On the off chance that you are a gaining part and are determined to have a noteworthy illness, you should skip work to get treatment for it. This prompts a major inconvenience. You lose your month to month wages. Costs will build due to visit visits to the hospital, costly medical tests and medications that will be required for finish recuperation. For this situation, health insurance quotes will just repay your hospitalization costs. A critical illness insurance take care of just hospitalization costs as well as causes you cover different costs like specialist meeting charges, expenses of drugs and so on.