Benefits of critical illness insurance

1. A One Stop Guide To Know Everything About Critical IllnessInsurance? Critical Illness Insurance is otherwise known as dread disease policy and also critical illness cover helps cover the insured against fatal diseases such as cancer, and other critical illnesses that are mentioned on a predetermined list as part of an insurance policy. This Critical Illness Insurance Policy provides a lump sum coverage amount that can cover exorbitant medical expenses for the treatment of the critical illnesses as covered under the insurance policy if the insured is diagnosed with any of the specific illnesses mentioned on the predetermined list of the insurance. Features of Critical Illness Insurance Plans Here are the features of critical illness insurance plans: •Critical Illness Coverage- Coverage is provided for nearly 36 major critical illnesses such as cancer, a tumour, cancer, heart problems, kidney failure, and many more.

2. •Lump-sum Payment- The insurer will provide the lump sum payment for the treatment of covered illnesses if the insured gets ill with any of the predetermined diseases. •Easy Claim Processing- The processing of the claim will most probably be an easy endeavour, based on the diagnosis reports. •Waiting Period- Generally, the lump sum will be given after the waiting period, as mentioned in the policy, passes. •Loss of Income- A part of the lump sum can be used, if wished by the insured, as an income replacement. Illnesses Covered in Critical Illness Insurance Most of the critical illness insurance plans cover the following illnesses: •Cancer up to the specified stage •Heart attack (first time) •Open heart coronary artery bypass grafting •Open heart replacement •Repair of heart valves •Coma of specified severity •Motor neuron disease, also popularly known as amyotrophic lateral sclerosis (ALS) •Multiple sclerosis •Aplastic anemia •Bacterial meningitis •Loss of speech •Kidney failure that requires regular dialysis •Stroke •Major organ transplant •Bone marrow transplant •Major burns •Muscular dystrophy

3. •Permanent paralysis of limbs •End-stage liver disease •Deafness •End-stage lung disease •Fulminant viral hepatitis Note- These are the illnesses that are usually covered by most critical illness insurance policies but that doesn’t mean that all of the companies that provide critical illness insurance will be covering them. You need to first read the list of predetermined illnesses that will be mentioned while you are selecting your policy before buying it. Who Can Benefit From Critical Illness Insurance Plan? This is the type of insurance that is beneficial to almost anyone and everyone who buys critical illness insurance. It is so because such fatal diseases and conditions cannot be predicted by anyone. With the increased number of medical practices and technology coming into existence, so has the number of individuals needing them increased. They can occur in any individual of any age. More importantly, this modern lifestyle of the twenty first century is hectic and full of stress to only the hardworking middle aged individual but also to kids going to school, to retired senior citizens. These circumstances increase the chances of suffering from critical diseases. The treatment of such diseases is no pocket change, the treatment can go on from weeks to months or even years and so can be exorbitant in the amount which cannot be afforded by most and which is why it is important to have critical illness insurance.