Why Should you Include Critical Illness Insurance in Your Health Insurance Portfolio?

Stay Protected at All Times:

Due to a desk-bound lifestyle, even younger people are suffering from life-threatening diseases or critical ailments. The cases of critical illnesses like cancer, stroke, and other chronic health ailments are rising which are not only costly to treat but also lead to financial stress in case the income-earner of a family is diagnosed with a major illness. If you do not have critical illness insurance in your health insurance portfolio, you will end up paying medical bills that will cause a lot of financial stress to yourself and your dear ones. Also, a health insurance policy only takes care of hospitalization costs. What about household expenses, loans, children school fees, which may also arise in case the patient takes a break from work? This is where a critical illness insurance policy helps. Get in touch with SVIC today to find out more details.

What is a Critical Illness Insurance Policy?

Unlike a regular health insurance policy that covers hospitalization expenses, a critical illness insurance policy pays a lump sum amount if you are diagnosed with any of the critical ailments as mentioned below. This lump sum amount can be used to meet household expenses and other expenditure on diagnostic test and treatment. The policy lapses once the payment is made.

The Illnesses Covered under this Policy are:

  • Heart Attack
  • Stroke
  • Kidney failure
  • Cancer
  • Major organ transplantation
  • Major organ transplantation
  • Paralysis
  • Primary Pulmonary Arterial Hypertension
  • Benign Brain Tumour.
  • Alzheimer’s disease
  • End-Stage Liver Disease
  • Multiple Sclerosis Aorta Graft Surgery Multiple Sclerosis
  • Aorta Graft Surgery

How Does This Policy Work?

If you are diagnosed with a critical illness, the insurer will pay the sum insured as a lump sum amount. Apart from paying hospitalization expenses, the amount can be used to pay loan EMI, household expenses, children school fees, etc. If you wish to go abroad for further medical treatment, you can do so with the help of this lump sum amount. This amount acts as a financial cushion and can be used in a way you want.


What is the Insured Sum One Should Take?

Having insufficient funds can be daunting when you are battling a critical illness. There is no hard and fast rule to decide how much sum the insured should take, but one should decide the cover as per age, income, and lifestyle. It is a one-time benefit that is paid out to the policyholder on the first diagnosis after a survival period of 1 month. It is highly advisable that people belonging to a higher age group and income bracket should definitely go for a higher cover.

Get Yourself a Critical Illness Cover Today and Stay Protected!

With the way, most individuals lead their lives today, that itself can be the cause of most life-threatening ailments. So, if you feel you are vulnerable too, it is time for you to get a critical illness insurance plan and stay protected against a number of critical ailments. Having said that, you must not avoid getting an individual health insurance policy. In fact, you should first buy an individual health insurance policy and then, include the critical illness plan as a second layer of protection in your insurance portfolio. To know more about our critical illness insurance plans and their benefits, contact the team at SVIC today to book an appointment.