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Myths about Critical Illness Insurance

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Critical illness diseases are nothing but life threatening ailments that could affect you big time in life and may bring a pause to your daily routine. Though many feel critical illness occurs only during old age, let us enlighten the fact that major heart and cancer diseases have affected people who belong to the younger age group. It is also considered that critical illness insurance is expensive and may hamper your financial planning, which is untrue. Let us look at several such myths related to critical illness insurance and the provided facts, which prove that critical illness insurance is a much needed health insurance plan in your financial portfolio.

Myth # 1

Critical illness is same as any other health insurance plan

Fact: Critical illness insurance is a benefit plan, which gives you the sum insured as a lump sum in one transaction on diagnosis of the disease. Unlike, health insurance plans you do not have to submit the bills to get claims settled. You get the lump sum amount, which can be used for paying off debts, as an alternate income source or for medical treatment.

Myth # 2

All critical illness is applicable for all

Fact: Usually, critical illness plans cover all major critical illnesses; however, before buying the policy you need to check the listed critical illnesses. HDFC ERGO offers coverage against 15 major critical illnesses.

Myth # 3

Critical illness cover acts like a cancer cover

Fact: Critical illness policy covers various types of cancer; however, several cancer types are excluded such as skin cancer or tumors described as pre-malignant or non-invasive. You need to understand that critical illness cover usually helps when the cancer is at malignant stage.

Myth # 4

Critical illness plans are expensive

Fact: Critical illness plans are a little high priced owing to the high-risk coverage factor, however it is not too expensive. It compliments any health insurance plan well, in case of a critical illness you do not have to make indemnity claims instead get one transaction payment of sum insured.

Myth 5 # Survival is difficult if you are ever diagnosed with critical illness

Fact: This is not true, modern medical science is developing new medicines and line of treatment for every critical disease. It all depends upon, which stage it got detected and quality medical treatment. By opting for critical illness insurance, you will be rest assured about the expenses.

Conclude: You can choose HDFC ERGO’s critical illness insurance and protect yourself against 15 major listed critical illnesses. To know more click here…..

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