What Is Critical Illness Policy and What Does it Entail?

Beginning this article, we have a question for you!

What are 3 things on your bucket list you wish to tick off before the age of 60? What are three long-term and short-term goals you want to achieve? And, what are three arrangements you have made as a safety net for the above two questions? 

We urge you to take your time and list it down.

But once you are back, we want to highlight a roadblock that encircles your dreams, aspirations, and goals. It goes by the name, Uncertainty.

Sure, you might have invested in stocks, got yourself a standard health plan, and made a recurring deposit arrangement for your kids’ education.

What happens when you are diagnosed with a critical illness that leaves you bedridden? 

Handling critical illness demands time and money. Apart from losing your monthly income, there are other requirements you would have to deal with. An increase in expenses due to frequent hospital visits, expensive medical tests, and medications are just some of the costs that come to mind.

Handling critical illness demands time and money. Apart from losing your monthly income, there are other requirements you would have to deal with. An increase in expenses due to frequent hospital visits, expensive medical tests, and medications are just some of the costs that come to mind.

In this case, and evidently, your demand outweighs your supply.

A critical illness cover is an individual and family wellbeing reimbursement cover, which is straightforward to obtain and gives admittance to a list of 10-37 critical ailments that are pre-listed by the insurer and as approved by IRDAI. This list is inclusive of the following that is covered under the most critical illness health plans:

  • Heart attack
  • Multiple Sclerosis
  • Stroke
  • Cancer
  • Major organ transplantation
  • Coronary Artery Bypass Surgery
  • Paralysis
  • Kidney Failure
  • Aorta Graft Surgery
  • Primary Pulmonary Arterial Hypertension
  • Heart Valve Replacement
  • Parkinson’s Disease
  • Alzheimer’s Disease
  • End-Stage Liver Disease
  • Benign Brain Tumor

Diagnosis of critical ailments is an uncommon occurrence with sweeping repercussions for both an individual and the people reliant on him as critical sickness can disturb goals and crash investment funds. The best answer for emotional distress and financial difficulties emerging from critical illnesses is to purchase a critical illness health plan. The target of these arrangements is to give the requisite amount of cash to diagnose the predefined critical disease. 

Eliminating the financial burden with the help of a critical insurance plan can make the treatment and recovery all the more relaxing. Not only does a critical illness health plan go past standard medical coverage, but it also covers numerous unforeseen expenses that act as a boon. Freedom from financial burden is one of the significant things a critical illness cover entails.

A significant percentage of critical illness insurance can be used to cover a varied set of expenses, including:

  • Payment for critical medical services that might contrarily be unavailable under a standard health plan.
  • Monetary coverage for daily living expenses, permitting the patient to focus their time and energy on recovery instead of financial stress.
  • Transportation expenses include commuting to and from treatment centres, ancillary vehicles to carry equipments and wheelchairs.
  • Critically ill patients, or those solely in need of a gateway to restore and revive, can utilise these reserves to take a sabbatical with friends or family.

Now that you know all that a critical illness cover entails, we want you to take a moment and put yourself in the shoes of your family. Imagine being diagnosed with a critical illness. Your job security is at stake, your children’s education endeavours have been halted, and there’s no certainty over how you would manage your hefty home loan. Scary, isn’t it? We want no family/individual to experience this. Give heed to health investments early in life. Everything that may seem like rainbows and sunshines today might flip over with one relevant positive test result. There’s nothing more beneficial than planning the future for yourself and your family.

As per a report from the Financial Express, 1.8 million Indians experience a stroke every year, making it the country with one of the world’s highest stroke rates. By putting forth this number, our aim is not to scare you. It highlights the probability of critical illnesses to be exceptionally high with the opportunity to avail a precautionary measure feasibly higher.

We at Cover 360 care about your wellbeing. We are a complete health insurance services platform that offers all the information, comparison facility and easy buying options for all the available Critical illness health insurance policies in India. Cover 360 aims to give you avid support in the event of critical illness diagnosis by offering you to select from a host of health insurance plans that meet your requirement.

Here is how Cover 360 accommodates you while purchasing your Critical illness Health Insurance Plan:

?    The platform provides users with the ease of customising their insurance plans as per requirement.
?    With stellar insurance comparison algorithms, you can compare health insurance online across a list of insurance providers, making it one of the fastest and most trustworthy platforms to safeguard            yourself against life-threatening diseases.
?    Not only does Cover 360 provide expert advice on various health insurance plans and suggests the best insurance providers in India, but they also help you save substantially on your critical illness             health insurance plan.
?    A hassle-free insurance purchase experience backed by quick and reliable payment methods to help you save effort and time is what Cover 360 strives to deliver.
     Cover 360 provides an easy to understand interface while picking critical illness health insurance that provides you with all the information you require to help you steer towards the right decision.

Cover 360 provides an easy to understand interface while picking critical illness health insurance that provides you with all the information you require to help you steer towards the right decision.

To sum things up, critical illness insurance covers can help you stay composed during times of uncertainty. Unlike standard health insurance with a fixed benefit, critical health insurance plans cover your financial requirement if you are unable to resume work. These plans require close purchase attention and analysis. Hence, look around avidly, compare critical illness covers thoroughly and look at standard insurer metrics before you close upon your final decision.

Your Critical Illness health plan purchase on Cover 360 comes with the added perk of ease of claim redressals, so you can sit back and relax and enjoy a hassle-free experience. On a lighter note, take avid care of yourself, maintain a healthy lifestyle, live stress-free and remember Cover 360 is always here for all your insurance requirements on the health front!

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