In today’s fast-paced lifestyle, serious illnesses like cancer, stroke, and heart disease are becoming more common, even among younger adults. While general health insurance covers hospitalization and treatment costs, critical illness insurance provides a lump sum payout upon diagnosis, helping with treatment, recovery, and loss of income.
📌 What Is Critical Illness Insurance?
Critical illness insurance is designed to protect your finances against life-changing diseases. Key features include:
Lump Sum Payout: Receives a fixed amount upon diagnosis of a covered critical illness.
Coverage for Multiple Illnesses: Includes cancer, stroke, heart attack, kidney failure, major organ transplant, and more.
Financial Relief: Helps manage treatment costs, post-recovery expenses, and loss of income during prolonged illness.
💡 Things to Check Before Buying a Policy
List of Covered Illnesses: Ensure cancer, stroke, heart attack, and other serious illnesses are included.
Payout Terms: Understand whether the payout is full lump sum or partial for multiple claims.
Waiting Period: Most policies have a waiting period of 90–180 days; check before purchase.
Survival Period Clause: Some policies pay only if the insured survives a specific period after diagnosis.
Exclusions: Carefully read the fine print for diseases, pre-existing conditions, or lifestyle-related exclusions.
Policy Premium: Compare premiums for coverage, age, and term to ensure affordability.
✅ Why You Need It Alongside health Insurance
Complements health Insurance: Covers costs not fully paid by health insurance.
Supports Recovery: Provides financial support for long-term care or rehabilitation.
Peace of Mind: Reduces financial stress during a critical medical emergency.
💡 Key Takeaway
Before buying or renewing a health policy, check if critical illnesses like cancer and stroke are covered. A well-chosen policy ensures financial security and peace of mind when facing life-altering diseases..jpg)
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