5 Crucial Expenses A Critical Illness Insurance Plan Can Help You With

1. 5 Crucial Expenses A Critical Illness Insurance Plan Can Help You With

2. Critical illness insurance is an insurance product dedicated to providing financial coverage against critical illnesses such as cancer and stroke. If you get diagnosed with any of the diseases covered in the plan, you receive a lump sum payout of the sum assured. This lump sum amount can truly help you afford many expenses that can come your way during your illness, as you might choose or need to stop working for a while. Curious to find out more? Read on to discover 5 crucial expenses that you can use your critical illness insurance payout for –

3. Treatment/Co-payment in health insurance Should you need to be hospitalised for treatment for your critical illness, your Integrated Shield Plan has a certain level of co-payment that needs to be borne by you. The critical illness insurance payout will help you afford this amount. You won’t have to dip into your hard-earned savings for such necessary payments that form a part of your critical illness treatment costs. Transport to the treatment centre When going to the hospital for your check-ups or treatments, you may choose to travel in comfort by taxi. These costs may build up over time. You can use your critical illness insurance payout to travel in comfort and safety to the hospital.

4. Home rent/mortgage Home rent or mortgage is, perhaps, one of the biggest expenses that we face. In the event of a diagnosis and during treatment/recovery, you still need to ensure you keep a roof over your head. The payout from critical illness insurance can help you stay on track with your mortgage or rent payments without draining your savings. Monthly bills and dues The bills don’t stop pouring in when we fall ill. You can use your critical illness insurance payout for regular payments such as the utility bills, grocery bills, credit card bills and loans, and so on. This way, you won’t have to default on your dues during your illness.

5. Salary of a domestic worker If you unfortunately fall sick with a critical illness, you might need extra help at home. Your spouse may be at work all day and unable to tend to your needs. In this case, you might require the assistance of a domestic worker. The payout from your critical illness plan will help you afford the salary of a domestic worker who can help you get your meals on time, give you your medicines, and basically ensure you are not left alone at home when unwell. Apart from these, you can use the payout amount for any other expense that comes your way. You may even choose to keep the funds safely in an account for the future. Hope that this blog has been an interesting read. Do look into getting critical illness insurance for yourself and your loved ones today. Read this blog to discover a few important things you need to keep in mind when buying critical illness insurance. Take care!