Turning 30 is an amazing feeling! You are earning can can fulfill all those dreams of yours! It’s that stage of your life where you strive to bring out a balance between your personal and professional life. Despite your professional achievements, the work pressure, the increasing fast-paced life and hectic or unhealthy lifestyles can take a toll on your health and may lead to critical illnesses. With consistent work stress and anxiety, youngsters are becoming the targets of critical illnesses like heart diseases, cancer and kidney.
Apart from the physical and mental turmoil there’s also high a financial turmoil, a critical illness insurance plan creates a backup plan to cover all your critical illness expenses. A basic health insurance policy might not provide enough cover for all the financial losses you may face because a terminal illness will not just require hospitalization cost but you may need certain costs for advanced treatments. It’s not just that but you may not be able to earn for at least 6 months because that is the time you may need to completely recover and get back to work. Your bills, emis, expenses will increase but your income will pause for few months.
However, a critical illness plan not only ensures that the hospital charges, follow up check ups, advanced treatments, it also covers the loss of income you face while you are recovering. Unlike a Mediclaim policy that reimburses the hospitalization costs, critical illness insurance gives you a lump-sum amount on the diagnosis itself.
Another major benefit is that it is both cost-effective and convenient and the waiting period is less than 30 days . There are various critical illness riders and stand alone plans in the market. Few standalone plans only cover cancer while a plan like Edelweiss Tokio Life – CritiCare+ covers 17 critical illnesses. It provides a lump-sum benefit on diagnosis of any of the critical illnesses pre- listed in the policy document, some of which also include an organ transplant, cancer, major burns, chronic kidney disease etc. Apart from covering 17 major critical illnesses it provides a multi claim option under which the policyholder can claim thrice. So if the policy holder is diagnosed by a second critical illness then he/she can claim again. Also after the first claim the future premiums will be waived off understanding that you are not in a position to pay future premiums after a critical illness.
This insurance plan is designed in such a manner that it can help the policyholder to bounceback financially from a critical illness. It’s one of the best critical illness insurance plan available in the market.
Apart from the physical and mental turmoil there’s also high a financial turmoil, a critical illness insurance plan creates a backup plan to cover all your critical illness expenses. A basic health insurance policy might not provide enough cover for all the financial losses you may face because a terminal illness will not just require hospitalization cost but you may need certain costs for advanced treatments. It’s not just that but you may not be able to earn for at least 6 months because that is the time you may need to completely recover and get back to work. Your bills, emis, expenses will increase but your income will pause for few months.
However, a critical illness plan not only ensures that the hospital charges, follow up check ups, advanced treatments, it also covers the loss of income you face while you are recovering. Unlike a Mediclaim policy that reimburses the hospitalization costs, critical illness insurance gives you a lump-sum amount on the diagnosis itself.
Another major benefit is that it is both cost-effective and convenient and the waiting period is less than 30 days . There are various critical illness riders and stand alone plans in the market. Few standalone plans only cover cancer while a plan like Edelweiss Tokio Life – CritiCare+ covers 17 critical illnesses. It provides a lump-sum benefit on diagnosis of any of the critical illnesses pre- listed in the policy document, some of which also include an organ transplant, cancer, major burns, chronic kidney disease etc. Apart from covering 17 major critical illnesses it provides a multi claim option under which the policyholder can claim thrice. So if the policy holder is diagnosed by a second critical illness then he/she can claim again. Also after the first claim the future premiums will be waived off understanding that you are not in a position to pay future premiums after a critical illness.
This insurance plan is designed in such a manner that it can help the policyholder to bounceback financially from a critical illness. It’s one of the best critical illness insurance plan available in the market.
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