Critical Illness Cover- An Additional Benefit
Published On Nov 29, 2020
Purchasing a health insurance policy is a must for every individual. Having a health insurance policy by side helps one protect their savings during an unexpected emergency situation. The same applies to critical illness insurance. Possessing a critical illness insurance policy is a must for you if you have a family history of critical illnesses such as Cancer, Heart Attack, and more. Remember, your critical illness insurance policy will be your ultimate financial savior in case of a critical illness diagnosis.
When it comes to the purchase of a critical illness plan, learn that there are two ways by which one can benefit from critical illness insurance. Critical illness insurance can be purchased as a standalone cover or as an add-on policy. Either way you will get to benefit in case of diagnosis of a critical illness.
Your critical illness cover, whether a standalone plan or an add-on, will benefit you in many ways. Let us find out the advantages of a critical illness plan.
Benefits of Critical Illness Insurance
When you choose a critical illness insurance cover, you become eligible for its various advantages including:
1. Financial Security - One of the biggest advantages of critical illness covers is that they provide you with the utmost financial security. Since treatment for critical illnesses like Cancer, Stroke, and others require a significant amount, critical illness insurance makes sure you do not end up exhausting your savings to meet the medical requirements.
2. Lump Sum Amount - Critical illness covers come with the feature of lump sum payment on diagnosis of a life-threatening illness such as cancer, stroke, heart attack, kidney failure, and others.
3. Freedom to Use Coverage Amount - Critical illness insurance covers allow the policyholder to use the lump sum amount received on diagnosis as per their requirements. A policyholder can use the lump sum amount received on various expenses like house rent, school fees of children, medical bills, etc., as per their needs.
4. Coverage for Multiple Critical Illnesses - The reason critical illness covers are so popular is that they provide coverage for a wide range of life-threatening illnesses under a single plan. One doesn't have to buy different policies for getting different critical illnesses covered.
5. Peace of Mind - Buying cover for critical illness will help you feel more secure in terms of health and finance. You along with your loved ones would be free from the last-minute hassles of arranging a huge amount of money to afford the treatment for critical illness. Even during the critical time, you will be free from the worry of any kind and emphasize more on the treatment.
Why Buying Critical Illness Cover as an Additional Benefit Is a Good Option?
Many policyholders prefer adding critical illness cover to their health insurance policy. You too can do the same to ensure and enjoy coverage for various critical illnesses without any stress. Critical illness cover as an additional benefit would help you:
- Gain Vast Coverage Without Paying High Premium - Your critical illness coverage add-on will help you cover yourself against critical illnesses without paying a significant premium amount. In other words, you will get covered for more at less price.
- Freedom From Managing Multiple Policies - Your add-on cover for critical illness will prevent you from the hassles associated with managing two or multiple policies. Your add-on cover, being a part of your basic health insurance plan will keep you away from all the confusion and stress.
Do not hesitate to buy a critical illness cover if you think you are at risk. Buying a critical illness cover may seem like paying extra, but rest assured this small amount from your end would prevent you from watching your savings go down the drain in one go.
Lastly, make sure you consider all key aspects of your precise needs as well as plan benefits before making a choice.
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.