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Wednesday, January 25, 2023

Why You Should Get A Critical Illness Coverage

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Illness is a part of life that all of us must go through. From heart diseases to organ failures and numerous other ailments, our health is not destined to stand the test of time. In order for us to be fully prepared to handle the financial battle that these illnesses bring with them, we must take the step and get ourselves the necessary support. This is where critical illness cover comes in handy. Critical illness cover is a form of payment that is used to cover the bills from being diagnosed with a specific illness. From the hospitalization, the surgery, and medication critical illness cover takes away the chance of not being able to avail of the necessary treatments and medications to get better. Our life and health is supported by this insurance.

There is also medical insurance that covers the treatment of these ailments and illnesses but they do not cover the other treatments that come in the post operation such as the insurance and any experimental treatments. They also do not help you if you are out of work unlike critical illness cover.

Benefits of Critical Illness Cover

Normally the higher you pay in a critical illness cover, the more illnesses the insurance company covers. It is a cost that you pay to ensure that in the event that you get ill, you don’t have to worry about searching for the necessary funds to pay for your treatment and medication. Even after you have stayed and received treatment in a hospital, the insurance covers you medication and other expenditures that you require. The monthly premiums vary in terms of cost so you should really examine what these policies cover and see what is suitable for you. You may want to have a family history test taken in order to pre plan what illness you may eventually get.

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Not all illnesses are covered in critical illness insurance but most common illnesses are. Illness such as heart disease, strokes, tumours and cancer are covered by the majority of insurance plans but you should choose the plans based on your medical history so you may be prepared if the illness ever happens to you.

This cover will also allow you the benefits: to be able to pay for the different treatments that is not covered by your medical plan. You will also be able to pay for your mortgage while you recover from the operation and treatment. You get to pay the bills of your other insurance premiums and car if you had payments for
that. Your spouse will also be cared for as it replaces his/her income as he/she cares for you while you recover.

Types of Critical Illness Cover

There is Simplified Issue Individual Protection which is typically available in companies. The modus operandi of these companies will be to ask a few questions regarding your health. This type of cover is the most affordable of insurance cover.

The second type of insurance cover is the Fully Underwritten Individual Plan. This plan is available with a higher cost but brings about more illnesses covered. Medical information will be requested by the insurer.

The last type of insurance cover is provided for by your employer in your company. There are many types this form. Some employers will make you pay out of your salary for this. Do not at one point feel cheated as this will really help you in funding the treatment.

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Disadvantages of Critical Illness Cover

There are disadvantages to getting this insurance as purchasing critical illness cover is that you may not get a pay out in the event of diagnosis, because of the terms and conditions of the policy. This policy is a very detailed one wherein if a certain illness happens and is not covered by the plan, then the bill is not covered. Even if you paid the highest premium, you still cannot predict what illness you may get and if the policy will cover it. You must read their full policy and decide which ones you want covered.

Important Information about Critical Illness Cover

This type of cover acts only on the illness that you choose to pay. It is very specific therefore it follows that specificity strictly.

Critical illness cover is not a savings type of insurance so a claim must be made for it to work. After the claim, there is a time period before the cover can pay. There is also a rule of thumb that if you stop paying the monthly premium then then your cover will end thirty days after you have stopped paying.
You must at all times be honest about the information gathered from you by the company. It is beneficial for you to be honest as not all forms of illness are covered. The more they know about what you have, the better they will be at helping you specify what they can cover.


Illness is a real part of life. It is a threat to well-being that must be handled properly if and when that time comes that you get sick. Hospitalization and medicine is not at all cheap. Procedures cost a hefty sum of money that you will need the proper financial backing to be able to afford the procedure and medication. Critical illness cover not only does this for you, it also finances you mortgage and medicine bills while you recover. It also helps your spouse to be able care for you in your recuperation. Take the time and avail of this. Your life may depend on this.

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