Check For Few Features and Then Buy Any of the Critical Illnesses Insurance Policies

Health issues don’t knock you down until you are lunged with the trauma of health emergency leading to hospitalisation, treatment and surgery. The consequences on your savings and finance if you are not adequately covered with a health insurance policy could lead to miserable situation at this hour. Furthermore, if you are diagnosed with a major illness, especially a life- threatening one there could be a devastating impact, not only on you, but also on the life of your loved ones. To minimise the impact and to reduce the worries, it’s essential to be covered adequately with a critical illness policy.

Given the lifestyle diseases and genetic diseases associated with family medical history are on a rising trend, it becomes extremely important to have critical illness coverage. The policy covers a number of major illnesses which are critical and might need prolong treatment and hospitalisation. The policy coverage ensures a tax-free lump sum on diagnosis of any one of a list of serious sicknesses – including cancer, kidney failure, coma, burns and heart attacks. These policies help fight the consequences of such serious diseases.

While its significant to have these policies in place, it is also important that you are aware of and check various features of these policies. The most important thing is to check for the diseases covered. Insurance companies do not cover all critical diseases under the cover. Different companies will cover different diseases and the terms and conditions may also vary. However, remember that while there might be variation in the premium, it is important that you get what you looked for in the policy. And, while it’s significant to know what the inclusions of the policy are, it is equally important to be aware of the exclusions. Read all terms and conditions and clearly understand what is not included; this will minimize your hassles.

Different policies have different coverage age. If you have decided to go ahead with a policy, check until what age the coverage will be provided and if that meets your needs. At the same time, also check for the renewal benefits and procedure. Most policies have to be renewed every year, check out for renewal benefits. Looks for advanced renewal benefits as there may be a claim in the early years of policy and therefore no claim bonus lessens the cost of coverage.

Just like other policies, it is extremely important that you understand the claim process for this insurance cover as well. Claim process is very important, especially in case of any critical disease as it normally involves a compensation of huge amount. Some of the health insurance plans have cashless facility while some others do not offer this. Also, remember that all claims will be adjudicated after the occurrence of the event and submission of papers by the insured person.

These are just few features. There are many other aspects that you should look for before buying critical illnesses insurance. Remember, this cover can provide cash to let people to follow a less worrying and taxing lifestyle while they pull through the illness. So, buy the most suitable policy and lead a stressful life.

For more information visit: Critical Illnesses Insurance and Health Insurance India.