Critical Illness Insurance Cover for the Self Employed

There is no second thought to the fact that health insurance is one of the most important requirements in today’s times. With increasing medical expenses and a never before rise in lifestyle related diseases, it is vital that you have a critical insurance cover to keep you protected against all kinds of scenarios.

This insurance is even more important for people who are self-employed as the future can never be predicted. In an event when they incur losses in business or fall ill, they can find themselves in huge debts with their family having a tough time managing day to day expenses.

This makes it very important for self-employed individuals to have the best health insurance with critical insurance cover for themselves. The biggest benefit of a critical insurance cover is that the amount paid by the policyholder has nothing to do with the expenses incurred. The insurance holder merely needs to provide a proof of illness and he is paid the amount as mentioned in the policy document.

Types of Critical Insurance plan

Talking about critical insurance in India comparison there are usually two plans available - standalone plan or a rider in addition to your basic health insurance. A standalone critical insurance policy covers a myriad of diseases and comes with a wider cover. Not to mention that a rider will expire as soon as your basic health plan does

Choosing the Right Cover

Critical insurance in India covers emergencies like heart attacks, liver diseases, cancer etc. it is important that you check for the diseases covered before you take up the insurance plan.

The present age and medical history of the buyer also play a key role when it comes to determining the sum insured. The reason being as you get older there are higher chances of developing chronic diseases. Hence, it is suggested that you buy your critical insurance cover when you are in your 20s. It is also vital that you make sure that you take into consideration the critical insurance pros and cons among various policy providers before you make your decision.

Hence, if you are self-employed, you will surely agree that your regular income is not guaranteed. And so, it becomes all the more important that you purchase a critical insurance cover to protect you and your family in case of a health related crisis.

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before going ahead with the sales.

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