Why you need a Critical Illness Cover?

When I was traveling somewhere abroad, I saw this ad which says“What if you die, and what if you don’t die”Health Research worldwide says that on advancement of Science, mortality rates across the world are reducing, which is good news…but the bad news is paralely the exposure of people to Critical and Terminal Illnesses have increased multifold.Current population due to stressful work life is exposed to Critical and Terminal Illnesses also called “Lifestyle illnesses” like Cancer, Heart Attack, Paralysis, Kidney Failure etc. A family member’s death would bring permanent financial hardships, but a family member with a critical illness would bring permanent and persistent financial hardships to other family members.Many expenses are not covered under a regular Health Insurance, like Organ donors payment, wheel chair, loss of earnings, change of structure of the house to accommodate the ill member. 

What does Critical Insurance cover?

A Critical Illness covers a list of illnesses [ranging from 8 to 35]. On diagnosis of any of the illnesses from the list, the sum assured is paid as claim. This is not a reimbursement but a benefit amount paid – which can be used as per your discretion.

How to calculate how much Critical Insurance you need?

OK, Critical Illness insurance again being a compensation of you losing your earning power would be calculated on the basis of your earnings.We recommend atleast 50 times your monthly income as a Critical Illness cover. 

What are the Papers required for applying for a Health Insurance?

1. Filled in Proposal Form.
2. Medical test may be required for age greater than 45.
3. Some Companies may ask for ID and address proof.