Here’s Why You Should Opt for Critical Illness Policy While Buying Insurance

Not many know this, but cancer is one of the leading causes of mortality around the world. According to data published by the National Institute of Cancer Protection and Research (NICPR), 2.25 million people in India have cancer, and over a million new cases get added to that list!

These facts are not to scare you but to educate you about the increasing lifestyle disorders and the risks that you face every day by not making adequate lifestyle changes. You already know that the costs associated with cancer treatment are steep and largely unaffordable without the support of the best critical illness policy.

Cancer can be detected in the early stages and locally advanced stages. So if you have critical illness insurance, you will be able to claim the benefit as soon as the illness diagnoses you. This allows you to get the proper treatment in time and reclaim your life before it gets too late.

Critical Illness Policy

Let us talk about why you need to find the best critical illness policy and how it helps you when you are diagnosed with a life-threatening disease, such as cancer.

What is Critical Illness Policy?

Critical illness policy provides coverage against life-threatening diseases such as heart attacks, cancer, and kidney failure, amongst many others. So, if you are diagnosed with a condition listed in the policy document, you are provided with the lumpsum amount to pay for your medical treatment and other costs associated with your medicine. In most cases, there is a survival period mentioned in the policy document, and the sum assured is released after the completion of this period.

Benefits of having a Critical Illness Policy

Here are some of the benefits of investing in the best critical illness policy:

Get lumpsum payment

After being diagnosed by a critical illness such as cancer, your insurer will pay the full sum insured, regardless of your hospitalization. This amount can be used to pay for your medical tests, doctor’s consultation, and medicines, among other things. You can also use the money to pay for daily expenses.

Quick claim process

You don’t need to be hospitalized to request for a claim. It is usually processed solely based on your diagnosis report.

Tax benefits

Enjoy the tax benefits under section 80D of the Income Tax Act.

Reasons to Get a Critical Illness Policy

With the rising costs of treatments and medical inflation, being diagnosed with a life-threatening disease is not only emotionally taxing but also financially. But when the best critical illness policy protects you, you can be assured that your insurance will cover all your disease-related costs. Since cancer treatments can be exorbitantly high, you need support from a critical illness policy to afford the most excellent medical care in case of being diagnosed.

Should You Buy a Critical Illness Policy?

With more and more people getting diagnosed with critical illnesses, it has become necessary to invest in the right policy at the right time. Even if you are in your 20s and 30s, you are not immune to the risks of lifestyle disorders such as cancer and diabetes. So don’t wait any longer that you already have. It is all the more critical for you to get a critical illness cover if you have a family history of genetic diseases.

Additionally, if you are the sole breadwinner of your family, then your illness can put immense pressure on your loved ones. Your family may have to pay for your treatment but also deplete your savings in treatment costs—all of this avoidable by getting the right critical illness insurance.

Increase Your Chances of Survival with Critical Illness Policy

You can either invest in a critical illness policy or supplement your term insurance with a critical illness rider. No matter what you choose, they both come with a non-hospitalization benefit that helps pay for all the costs, directly and indirectly, related to your treatment.

When you have cancer or any other life-threatening disease, it is only a matter of time when your medical bills will start mounting up. Things get worse if you are also the sole earning member of your family. The treatment for cancer, for instance, can be costly without the support of an insurance policy. Therefore, if you want to afford decent medical care without losing all your savings, then you need to find the best critical illness policy to protect you against such health emergencies.

Besides, the hassle-free claims process gives you access to funds quickly and start your treatment sooner, increasing your chances of survival significantly.

With an increasing number of life-threatening diseases like breast cancer, having a critical illness cover can go a long way in helping you gain access to the best treatment without exhausting all your savings.

It is straightforward to find the best critical illness policy online. Carefully review the critical illness policy from trusted insurance providers, such as Max Life Insurance, and assess the policy benefits before investing. Don’t forget to compare the premiums and benefits of choosing the most cost-effective policy with maximum benefits.