Understanding of Critical Illness Insurance Policy

1. Understanding of Critical Illness Insurance Policy A health insurance policy ensures that you live stress-free even when you are staying in the hospital. But, the normal Mediclaim fails to help you with life-threatening health problems, and this exactly is what comes under critical illness insurance Canada. A critical illness plan is a type of health insurance policy that covers your back when you are hospitalized for major illness. It offers you a lump sum single payment for all your medical bills and personal expenses to bear off some of your financial responsibilities. As the name suggests, critical illness policy covers nearly 25 life-threatening scenarios including cancer, heart attack, Alzheimer’s, stroke, organ transplant, paralysis, kidney failure, and many more. Should You Opt for Critical Illness Insurance? While answering the question, it is important that you understand your needs. Normal health insurance covers mostly all common health problems. However, it fails to cover the most expensive and life-threatening health problems. Moreover, some of the health insurance pays only for the medical bills. While you are at the hospital, there are scenarios that you come across financial crises because of a prolonged stay. With a critical health insurance policy, you get a lump sum amount in a transaction, which you can use for any needs including medical bills. You can use this money for groceries, utility bills, credit card bills, daily expenses, and so on. There are no hardlines set for the use of money. The only condition is that the medical condition should fall under the plan. Is Critical Illness Insurance the same as Long-Term Care? No. This type of insurance has been categorized separately as a type of health insurance because of the extra added benefits. In long-term care, you are provided with assistance or supervision with day-to-day activities when you are suffering from chronic health issues or disability. It takes care of the expenses in the form of reimbursement from time to time like daily, weekly, or monthly. However, critical illness insurance is different as you receive a single transaction of the lump- sum amount when you are hospitalized and diagnosed with serious health problems covered under the policy. You can use this money for anything including expenses and medical bills. Critical life insurance policy is a perfect solution for this new era of the world. As we deal with unhealthy lifestyle choices from day-to-day life, the number of serious health problems have

2. increased. Therefore, protecting your finances as well as your loved one has become essential. So, contact today to get information on the live-saving insurance policy and secure one for yourself. Contact: Pranesh Kunhikrishnan Duralegacy 201-1501 Ellesmere Rd, Scarborough, ON M1P 4T6 (647) 351-3872 pranesh@duralegacy.com https://www.duralegacy.ca/critical-illness