Why You Need Health Insurance As Well As Critical Illness Cover.

1. Why You Need Health Insurance As Well As Critical Illness Cover. Why You Need Health Insurance As Well As Critical Illness Cover.

2. • Having a health insurance policy health insurance policyis extremely important in this day and age! It ensures you are safe from the financial impact of a medical emergency. It also ensures that the rising medical inflation does not burn a hole in your in your savings. However, when it comes to a critical illness, a normal health insurance policy is not enough! You need to have critical illness insurance will explain why. critical illness insuranceas well. This article

3. But first, let’s understand what critical illnesses are. But first, let’s understand what critical illnesses are. • Critical illnesses refer to serious, life-threatening & long-term conditions that require extensive medical care. Unlike normal ailments, critical illnesses often take months of treatment to cure and have life-long repercussions. Some critical illnesses include all types of cancer, failure of the kidney, bypass surgery, heart attack, organ transplants, paralysis, stroke, etc.

4. Now let’s look at what critical illness insurance is. Now let’s look at what critical illness insurance is. • Now that we know what critical illnesses are, let’s have a look at what critical illness cover Well, critical illness insurance could either be a standalone policy or an add-on that can be purchased with your health insurance plan. It is a fixed benefit plan that will offer a predefined payout upon the diagnosis of a critical illness covered by the policy. critical illness coverrefers to.

5. Ok, so why do I need critical illness insurance if I have health insurance? Ok, so why do I need critical illness insurance if I have health insurance? • - -Cost of treatment: Cost of treatment:When it comes to a Mediclaim policy high! Not only that, the course of treatment is also usually prolonged. This means that, while your health insurance policy will help cover bills to an extent, it might get exhausted over time. This is where the payout of critical illness insurance critical illness insurancecomes in handy! It will help you cover any medical expenses that exceed the sum insured of your medical insurance plan. Mediclaim policy, the cost of treatment is general quite • - -Loss of income: Loss of income:Since the treatment of a critical illness of an income. If you are the sole breadwinner of the family, this will cause undue pressure on your financial situation. All your bills, EMIs and other payments such as rent will pile up. Thankfully, the payout of critical illness insurance is quite sizeable. It will help you handle these expenses and ensure they do not put a strain on your finances. critical illnessis usually prolonged, it could result in the loss

6. Let’s take an example to understand the importance of critical illness cover. Let’s take an example to understand the importance of critical illness cover. • Mr. Bajaj has a health insurance policy health insurance policywith a sum insured of Rs. 5 lakhs. One day he feels ill and gets himself tested. Results show that he has cancer. Fortunately, it was detected early can be completely cured. He starts treatment at one his plan’s cashless hospitals. However, within a couple of months, the sum insured of his health insurance policy is exhausted. Luckily, he had opted for critical illness insurance as well with a payout of 15 lakhs. Therefore, on diagnosis, he was provided the entire amount. This payout has helped Mr. Bajaj cover the remaining cost of his treatment. It also made up for the loss of his income during his treatment. So as you can see, having a health insurance policy a critical illness cover as well, just in case! Hope this has been helpful, good luck and all the best! health insurance policyis important, but you should also back it up with

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