3 Prominent Reasons Why You Need to Buy Critical Illness Insurance Plan Today

A large number of people who buy health insurance policies believe that it is the ‘be all and end all’ of their health related investments. But you’ll be …

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A large number of people who buy health insurance policies believe that it is the ‘be all and end all’ of their health related investments. But you’ll be surprised to know that most health insurance policies do not provide cover for a large number of critical illnesses and life-threatening diseases.

A survey by WHO reveals that the estimated yearly death from critical illnesses including cardiovascular, lung, liver, kidney diseases and cancer is 4,316,492. In addition, the cost of medical treatment for critical illnesses in India has become more and more unaffordable. In fact, treatment for cancer in India may cost as much as 20 lakhs.



Source- Tommorrow Makers

Now, that’s a lot of money and if your health insurance doesn’t provide you cover for critical illnesses, it may become difficult for you to ensure complete financial security in case of medical emergencies. This is where Critical Illness Insurance Plans come to your rescue.

There are multiple critical illness insurance plans available online for comparison and here we give you 3 significant reasons on why should you consider them:

1.       Extra Protection – As discussed above, most health insurance policies only cover hospitalization expenses and doctor’s consultation fee. But in case, you’re diagnosed with a critical illness that requires long term specialized treatment, you’ll need to bear the expenses out of your own pocket.  

The ever-increasing costs of critical illness treatments can definitely break your finances leaving you in a lurch. You may argue that health insurance plan riders may provide you with adequate coverage against critical illnesses. But often, taking riders with your health insurance policy proves to be a costly proposition.  

A Critical Illness Insurance Policy takes care of the exorbitant cost of treatment that most health insurance plans don’t. With critical illness insurance plans, you’ll need to get admitted in a hospital to claim the sum assured, only your diagnosis report can get you the sum assured to fund your treatment.  

2.       Income Replacement – A number of critical illnesses such as Cancer may lead to lead to a partial disability and/or a total loss of income. This loss of income is sure to affect the lifestyle of you and your family members.  Given the exceedingly higher costs of treatments for critical insurance, it proves to be a financial burden for one to manage the treatment and maintain a good lifestyle, at the same time.   

No matter you aren’t able to continue earning after you’re diagnosed with critical illness, you would still need to pay for your medical care and take care of your necessary household expenses. It becomes especially cumbersome for those who need to maintain a standard of living and achieve their family’s goals including their child’s education and marriage. 

That’s why it makes sense to invest in a critical illness insurance plan to maintain a good standard of lifestyle and achieve your future goals, even when you’re diagnosed with some critical illness. When buying critical illness plan, it makes sense to ensure larger sum assured. Buying critical illness policy will provide you more flexibility with more number of diseases and sum assured. 

3.       Protection from Lifestyle Diseases– No matter how healthy you feel, there’s always a chance of catching up lifestyle diseases such as diabetes, heart diseases, and hypertension. The fast-paced lifestyle, fast food culture and the negligence of health of in lieu of long, sluggish working hours seemed to have become a norm for most working professionals in India.    

Remember, around 65 million patients have been diagnosed with diabetes in India. So even if you’ve a health insurance, you are at the risk of being affected by lifestyle related ailments. This is where critical illness health insurance comes to your rescue.  

Most critical illness insurance plans offer you a comprehensive cover against lifestyle related diseases that you may contract in the future.  Critical illness plans can easily take care of the exorbitant expenses related to the treatment of lifestyle related, life-threatening diseases. The best part is that you don’t necessarily need to get hospitalized to claim sum assured, only the diagnosis report can help you claim the sum assured to support the long term treatment of such diseases. 

Over to You!

We’re sure now you know why you need critical illness cover with your health insurance plans. Remember, your health is wealth and you can’t neglect the chances of being affected by diseases the treatment of which may end up draining all your savings.

So, if you haven’t invested in a critical illness insurance plan, do it now. Remember, it’s never too late to get your health investments back on track. 

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