4 Tips to Help You Buy The Best Critical Illness Policy

health insurance

Life may throw many pleasant and unpleasant surprised to you and many situations may demand a higher volume of money such as a medical emergency. As a result, people opt for health insurance plans these days more often than before.

The primary reason for people subscribing to more health insurance policies is that cost of medical treatments and services are on the rise. And if you are financially not secure, you are bound to face the heat by paying the medical bills out of your pocket.

health insurance

On the other hand, people also opt for health insurance schemes if they have a family history of hereditary diseases.

However, many times, having a general health insurance won’t suffice if you are facing serious issues such as cancers, strokes and more.

It would mean shelling out more out of your pockets and that’s where opting for the critical illness insurance or critical illness policy would come to your rescue.

What is a critical illness insurance?

The critical illness insurance is a health insurance policy which has a provision to offer its subscribers a lump sum payment when a serious disease gets diagnosed. It is not at all an alternative for your regular health insurance plan as it is just an add-on coverage. The critical illness policy pays you a sure-shot amount if you are diagnosed with a disease of grave nature and saves you paying from your own pocket.

Things to consider before buying the critical illness insurance

1. Take a stock of your Present situation

Whether you should buy the critical illness insurance plan depends on your family structure. If you have a family history of complex diseases or if your family has a senior citizen, his/her chances of having a stroke in the future may be more than others. Thus, check the health situations of each family members before deciding on that extra layer of security in the form of the critical illness policy.

2. Keep your own health prospects in mind

Your own health prospects should also be kept in mind while zeroing on the critical illness policy. If you smoke a lot, live a hectic life with stress playing havoc, you may be prone to many health complications in future than others. Thus, if you think you may have complications that may cough up huge money, you should go for the policy.

3. Your Financial capacity

If you think that your existing financial condition can help you fight any complications in future, you can still opt for the policy with a small coverage. Keep in mind that health costs are on the rise in the last 10 years, and no matter how well you earn, it may not suffice an unexpected condition. And to keep off the stress due to anything that may occur later, you can avail the critical illness insurance policy and relax.

Read Also: Is your Health Insurance Cover Sufficient to Fight Critical Illness?

4. Opt for a plan that offers extensive coverage

Being in haste while opting for a health insurance policy may not be a good idea. And even though you may not think to opt for the critical illness insurance, you should still opt for it. However, before selecting one, check the list of diseases covered and also read the fine prints of the policy to be double sure while asking for a claim.

The Bottom Line

Opting for the critical illness insurance policy is not a bad move given the situation that we are living in an age with higher medical cost and disease’ vulnerability.

Thus, the best thing would be to compare the best critical illness insurance plans online and get started!