We all must have seen the recent rise in the number of cases of critical health. The growing problem of cancer, heart disease is visible. The insurance companies have been working in this area by providing critical illness insurance. The treatment for severe illness is costly. Not everyone can afford it. These insurances generally cover for all the cost of treatment if a person suffers from any critical condition.
The treatment of critical illness takes long term medication, hospitalisation and other expenses. It could be a tremendous financial burden for the family. Health insurance gives coverage for these times. The person remains peaceful and concentrates on the treatment rather worrying about the money.
With so much spoken about critical illness, there are a lot of myths which are labelled. Let’s break a few of the myths
Is there any age to buy critical illness policy?
You might have heard people talking about they are too young to get a critical illness cover. Young people think that they are too young to be prone to a critical illness. The common belief is that this illness can only happen to senior citizens. However, the rising number of teen death due to critical illness is a clear example that this is not true. There are a lot of family floater plans available for critical illness cover. It is independent of the age of the person and gives coverage in case any of our family members is diagnosed with a critical illness. Therefore, young or old everyone should have a critical illness cover
The premium for critical illness is higher
The complete truth is that critical illness cover for people in their old age is higher because the policy is already for a short period. If a person gets critical illness cover at a young age the premium could be very low. The wisest decision is to get a critical illness cover at a young age at easily affordable and very low premiums.
The process is time-consuming
With everything happening online, the process is a lot easier. You can reach out to the insurer to get the form online. You do not have to go through a medical test if your age is below 50. Thus, getting the policy is simply a click away.
Critical illness policy is the same as health insurance
Health insurance is a different policy which gives the person more voluminous but restricted cover. However, with critical illness insurance, you get protection for some serious diseases. These diseases can occur to anyone. The treatment is much costly than a common condition which your health insurance may cover.
Critical illness policy covers all know critical illness
It is important to note that though critical illness policy covers a lot of diseases, all of the significant illnesses are not covered in the policy. The coverage differs from insurer to insurer. One must read the full terms and conditions document accurately to understand this. Buy health insurance policy to safeguard your family in these hard times.