There are some things in the world which dont come with the guarantee and health is one of them. A person might be healthy and fit all the time, but there are chances of mishap and he can fall sick in the next moment itself. Keeping this fact in mind, a company has introduced Insurance Critical Illness. This way, you will not feel money deprived whenever you are stuck in urgency and you will always be having those extra finances who can take good care of yours in tough times.
What is Insurance Critical Illness?
If you are a living being, there will be chances of you to fall ill and there will be many sudden occasions when you might face some serious health issues. But once you are done with your insurance, you will never face any problems in future. This is an amazing policy that will ensure that whenever you need some financial help and the expenses are being blown out of the proportion, this critical illness insurance policy will surely help you out.
Some years ago, people who are suffering from heart problems, were not able to survive for more time. This happened as that person was not able to pay the hospital bills on time due to shortage of money. But now days, there are so many health insurance policies that can provide you with finance and other important benefits at the same time. This factor becomes your savour whenever you are critically ill.
What are the key benefits of having a private health policy for critical illness?
There are many policies which can surely support you in the critical time of your life. For instance, a life policy will pay you out once you die and a health policy will pay to get you treated. But none of these will pay your loans and will never come close your monthly salary. As a result, you need to do something instant. All these health policies are beneficial only when you add a clause for critical illness as well.
This clause becomes important for a person as he should not leave himself in mid way. For example, if you met with a car accident, your insurer will not take it as an illness. Thus, in this tough time Insurance Critical Illness becomes important. This way, the insurance company will pay for this unpredictable critical illness and pay out the required amount for their client. Not just this, one can add another point here which can be beneficial for disabled people. This will make your company to take care of your expenses for a lifetime.
Check out the premiums available
As of now, you must be aware of how important is Insurance Critical Illness, thus one should now take a look at the various premiums available with the company.
- Guaranteed premiums: This is an ultimate health policy where premium will be stable and set. No matter what happens, it will not rise during the entire life of the policy. This deal is worth trying for many people who wish to assure their health.
- Reviewable Premiums (A): Under this policy, premiums are set for a time span of 5 years. For the first five years, a person will pay the same amount. In the sixth year, the premium will get hiked. But, the amount of premium is quiet low in first five years.
- Reviewable Premiums (B): This is a new type of policy introduced by companies just recently. Here, you will pay the premium for first 12 months and then review it for each of 12 months.