Wednesday, 31 January 2018

What Are The Best Critical Illness Insurance Plans In India?

Billions of people live in India who suffer from some illness. Most have health insurance which covers their need. Critical illness is something for which one should get best vital illness insurance.

Critical illness policy and health insurance policy is not the same thing. This is something which confuses many people. It is something which is where one should be clear about what these are in detail.

One should have a policy for critical illness. It may occur any time which is fatal in nature. One should have this policy even if one has a health insurance.

Critical Illness May Occur Any Moment

To understand the insurance for critical illness, one needs to know about dangerous illness first. Critical illness is life-changing for a person. It is a health condition which affects one's lifestyle.

This type of sickness requires one to spend a great deal of money for treatment. It also may make a person lose their job. Such illness creates a disturbance in the peaceful life of a person.

To have financial protection if such thing appears, the best critical illness insurance is a must buy.  Having it is a way to be safe in life.

Basically, it covers life-threatening illness like permanent paralysis, tumor, etc. One should compare and get the plan for a critical illness which includes the maximum ground. 

Benefits Of Having Critical Sickness Insurance

You will not know when a critical disease may attack you. So to prevent from getting financially depleted one should have best vital illness insurance. There are a lot of benefits which at that time one would require.

A person might suffer from a critical condition anytime. The scheme for critical illness will help the insurer to get a lump sum amount. This is the best part of this insurance.

When going through such events, a lump sum amount is always helpful. This way one gets to spend the money in the way they see fit. This is why this insurance is vital.

Policy For Critical Insurance Covers A Few Illness

The best critical illness insurance will cover some of the medical issues. One should go through the plans in order to know the illness it will include. Some problems which are 

covered under this are:

     Particular Cancer of severe nature
     First severe heart attack
     Limbs permanently paralyzed
     Bone marrow or major organ transplant
     Replacement of heart or repairing heart valves
     Regular dialysis needed for kidney failure
     Liver or lung disease last stage
     Strokes which develops permanent symptoms

Only a few are mentioned here. There are some more which are covered under best critical sickness plans. Many plans include 4 to 5 time the yearly income.

General Waiting Period of 90 Days

There is always a waiting period before the best critical illness insurance kicks in. Most companies have 90 days waiting period. So any significant illness occurring in the waiting period is not covered. 

This is why one should get excellent critical sickness insurance long before anything happens. Once the coverage activates, one can have financial support if something happens. A good policy will cover the maximum grounds after the waiting period. 

Vital Benefits Of Critical Illness Insurance

One of the most critical benefits is that if one has such insurance, it helps him financially. Since a lump sum amount is given, it will cover medical bills and other expenses. The best critical illness insurance provides everything if one is diagnosed with it.
The amount which is given to insurer also includes the caring cost. In such scenarios, cost care is high. This is why the coverage amount consists of that too.

Free Check Up And Tax Benefits

Having an ultimate policy for critical insurance will provide you with free checkups. Health checkups are essential to prevent such severe condition. 
Having this policy also benefit a person in taxation. Under the 80D section, one receives tax benefits.

Having The Best Critical Condition Policy

To have the best critical illness insurance policy, you need to compare and choose the right one. The correct one will have:

     A prominent coverage, almost 4 to 5 times the yearly income
     The waiting period for the policy to activate and premium should be low
     The number of disease or illness covered should be high
     Age of renewability should be as high as possible

The best policy for critical conditions will have all the things mentioned. This is the most suitable plan for all.

There are many reasons as to why one should get such a plan. With a fast-paced life, one doesn't know when the need for best critical condition plan would arise.

Thus one should not get a plan blindly. One should purchase it only after going through and comparing different plans. It will help you have the best critical illness insurance.  

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