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Why Buying Critical Illness Insurance is Important ?

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Life is full of uncertainties so it is better to be prepared. Major illnesses have a debilitating effect on a person’s life and can incur huge medical costs, which can leave the family struggling to meet daily expenses. In such a situation where treating major illness has become a costly affair, critical insurance plan comes as a savior. Life insurance ensures the financial wellbeing of your loved ones in a case of death while critical illness plan offers financial security when an individual requires funds for the treatment of a grave illness and to support the family.

What is Critical Insurance?

Critical illness insurance is designed to provide coverage to the policyholder for life-threatening diseases which require treatment for a long period of time. Critical illnesses which a particular insurance policy covers are specified in the policy document. Some of the critical illnesses which usually critical insurance policy covers are cancer, heart diseases, paralysis, kidney failure, brain tumor, etc. Usually, the treatment of these diseases is very costly. The compensation received from a critical insurance policy not only helps in meeting hospitalization expenses and medical expenses but also helps in managing day-to-day expenses of the patient’s family.

Why it is Important to Buy Critical Insurance Policy

Rising cost of treatment

Serious diseases require specialized treatment and care, increasing the cost of medical treatment makes it is hard to afford the treatment. Critical insurance policy covers most of the expenses towards the treatment.

Large coverage

Critical insurance policy covers major critical illnesses with different ranges of severity. Even if you are healthy you must buy critical insurance policy as nowadays the probability of occurrence of life-threatening disease is on the rise. According to a recent research conducted by the Indian Council of Medical Research (ICMR), by 2020, there will be over 17.3 lakh new cases of cancer and over 8.8 lakh deaths because of the disease. So, stay protected with a critical insurance policy that offers wide cost coverage at a nominal premium.

Lump-sum benefit

Critical illness policy offers lump sum amount which can be used to manage healthcare expenses, medication, post hospitalization expenses, transport, accommodation, at-home treatment, day-to-day expenses of the family, and other related expenses. If the breadwinner of the family is diagnosed with a critical illness then the policy covers such conditions and ensures that the family is meeting their regular needs without worrying about the medical expenses.

Increase the chances of survival

Most of the people who are diagnosed with critical illness do not have enough money for the treatment. With critical insurance plan, they can get the right treatment which enhances their chance of survival.

Increasing lifestyle disorders

Lifestyle diseases such as cancer, diabetes, and heart diseases are rising at a rapid pace which is not only affecting elderly people but also adults, young adults, and children. These diseases are increasing because of change in lifestyle as nowadays there are less physical activities. Kids are spending more time in front of the television, computer, and mobile phones. The same thing is happening with adults as either they are in offices spending time in front of a computer or busy with their phones at home.

Other than sedentary lifestyle, rising consumption of refined food, junk food, and instant food has increased the chances of lifestyle diseases. The treatment of these diseases is extremely expensive and sometimes it requires lifelong treatment. In such situations, critical illness plan can be a savior. With the critical illness plan, you can avail the best treatment without financial hassle.

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

Diwaker Asthana Health Insurance industry experience of 20 years Diwaker Asthana recommends buying my:health Suraksha Insurance to get the benefit of a wide range of coverage that the plan offers. For some unique benefits like cashless home health care and in-patient treatment for mental illness, he believes this plan will benefit customers in the long run.

Know more about our experts

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

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