In India, the penetration of health insurance is comparatively lower in comparison to other financial products or services. A large concentration of the population is unaccustomed with the idea of insurance coverage. But the landscape is changing over the last few years.
As the Indian healthcare scene takes to global standards, health insurance schemes and especially critical illness insurance policies are gaining ground in tune with the rising expenses.
It is imperative that an individual in this new decade has a comprehensive idea about a critical illness insurance policy and how it can benefit them when the need comes.
What is critical illness and why you can opt for it?
Critical illness refers to a severe/deadly medical condition that affects an individual’s lifestyle, health and finances. Some notable diseases are like –
- Heart-related ailments
These illnesses can hit any individual at any point in life. Nowadays, considering the growing expenses of healthcare, securing oneself with a critical health insurance cover is common sense and not just expert advice.
What do critical illness insurances cover?
These insurance policies cover the hospital expenses if one’s diagnosed with a critical illness. Furthermore, unlike standard health insurances, it also covers medical expenses like –
- Lab tests
- Post-treatment medicines
Why should you opt for critical illness coverage?
Critical health insurance policy is crucial for the following reasons –
- Rise of lifestyle disorders
Disorders like diabetes, heart diseases and even cancer are affecting the youth for their irregular lifestyle. These are popularly categorised as lifestyle disorders, i.e. ailments caused by the modern 9-to-6 jobs schedules of most working professionals in the organised sector.
A relative policy in place can help meet the necessary medical assistance without hampering the finances if such situations do occur. You avail a Critical Illness Insurance Plan from Bajaj Finserv for ample coverage against such worst-case implications. It will assist you in procuring a lump sum amount of up to Rs. 50 Lakh for comprehensive and effective treatment without delay.
- It covers the additional expenses
Considering the severity of such medical issues, a lengthy period of hospitalisation as well treatment after is mandatory if not obligatory in the first place. It is obvious that the individual in question will be unable to complete his/her terms of employment in such a scenario. Relative insurance policies will additionally provide financial assistance for the period of time.
- Youngsters are suffering more from critical illnesses
Youngsters are increasingly suffering from dangerous diseases from their stressful lifestyle and spending long hours at work. With work pressure, comes the unhealthy lifestyle. This combined is hitting the youngsters hard. However, allowing a critical illness insurance policy covers you in your financial crisis is always recommended.
What is covered in this critical health insurance policy?
Ailments covered under such insurance schemes include –
- Open heart surgery
- Heart attack
- Kidney failure
- Bone-marrow transplant
Apart from these, it also includes other illnesses like 3rd degree burns and loss of speech among others.
How to benefit from critical illness policy?
If you wish to benefit from a critical illness insurance policy, here’s what you need –
- ID proof
- Medical certificate from a doctor stating you’re suffering from critical illness
- Duly filled claim form
- Your discharge report
Read Also:What should you know about Critical Illness Insurance? After verification of these documents, your insurance company will communicate with you regarding the approval or disapproval of your claim. Make sure you refer to the ailments covered and the financial coverage offered as per the circumstances concerned.