Critical illness can occur anytime, anywhere. With the increase in population, unhealthy food habits, and deteriorating lifestyle, the risk for acute diseases are increasing day by day.
Although you may control your critical illness, it may be challenging to do the same for other family members. That is why critical illness insurance should be compulsory for everyone. But there is a lot more to it.
Critical illness insurance is a financial cover against critical illness-related expenses. For example, if you turn out to have cancer, the insurer will cover the costs on your behalf. That is how it promises financial protection to you.
Read more below!
A Comprehensive Financial Protection
Many people who are diagnosed with critical illness do not have sufficient money to afford their treatment. As a result, they may have to undergo enormous financial strain that may even result in emotional distress. To help beat all of that, this health insurance provides financial protection to you and your family.
So, if you get diagnosed with any critical illness like cancer, heart stroke, or kidney failure, you do not have to pay the amount on your own and the insurer can provide the same on your behalf basis your policy sum insured.
A Wise Income Alternative
Assume that your right side of the body has been paralyzed. In such a condition it is almost impossible for you to work. This health insurance will cover for you to help substitute your income without any inconvenience during such circumstances.
If you have a substantial amount of sun insured, you can also use the cover to cure your illness or get operated. People who lose any part of their body or become blind can also use such benefits in need. Thus, it can act as a safe backup plan for you in times of crisis.
People who get critical illness insurance can use their claims to get high-quality treatment or meet their requirements. So, it depends on the policyholder what exactly they want to do with their money at hand. This is how critical illness insurance can be a lot better than any regular medical insurance, where you do not get to decide where to use your claims.
Peace Of Mind
Most people are worried about their finances. They want to make sure that the money they save is utilized in meeting their requirements. But what happens when they are diagnosed with illness later? Without critical illness insurance, one has to pay lump sum money out of their pocket. Thus, with this policy at hand, you can avoid such problems forever. As a result, you can be stress-free forever as no money from your share will be deducted for your critical illness. The insurance company in need will bear it.
The Bottom Line
This type of health insurance can be an ultimate rescue for you in need. Whether you have cancer, kidney stroke, heart failure, or any other life-risking condition, you can rely on this insurance to help cover you or your family in the time of need.