Why I Need Critical Insurance?

The word insurance brings up to our mind the terms like life insurance and health insurance. Critical illness insurance is probably not the type of insurance that comes immediately to our mind.

It makes a lot of sense to have one. Very often, we do not want to think about the scarier health related scenario. Unfortunately, our reluctance leaves us vulnerable and unprotected. The three major critical illnesses are heart attack, cancer attack and stroke. Other critical illness includes organ transplants, kidney failure, paralysis, blindness and heart valve replacement. There are several companies offering online critical health plans.

The critical coverage plan is relatively a fresh entrant to the market. It is beneficial for those in their thirties and early forties. The demography is not exactly the same as it used to be a couple of decades back. The main problem is not many are aware about this protection available. Comparing medical insurance policies are not focused on critical insurance. Critical illness coverage plans has been designed to provide medical expenses coverage that is not covered by a health policy such as copays, deductibles, alternative treatment and non-covered prescription drugs. It also includes non-medical expenses including rent or mortgage, car payments, utilities, car, premiums towards health insurance and lost income.

Critical insurance coverage plans can also make up for shortcomings in disability coverage that is employer sponsored that typically covers 60 percent income and may not be available at the time of need. Critical insurance pays the entire benefit in one time payment if the policy covers the diagnosed illness even when a person has fully recovered. Certain policies even pay more than expected, that is, in multiple times. With planned and well thought about decision making, the coverage plan in a critical insurance policy can help people face the challenges of an ongoing treatment and prolonged recovery period without getting too much under the debt. The plan chosen can also pay for a treatment that is responsible for saving life. It may also necessitate temporary relocation. It is advisable to compare different online critical health insurance plans.

The costs of critical insurance coverage plans depend on sex, age, health, tobacco products usage and the coverage amount. Larger coverage plans incurs lesser cost as compared to smaller coverage plans. However, care should be taken to study other details of the plan like coverage policies rather than focusing only on price. Comparing medical insurance policies can provide a rough estimate about the pros and cons of separate plans. Tobacco users may end up paying double premium in comparison to people who do not use tobacco. Individual coverage is possible in Critical illness insurance through the group plan used by an employerand in case of some life insurance plans, as a rider as well. The rates of a Critical insurance policy are generally guaranteed for 3 years. Critical insurance coverage plan strictly defines critical illness and ailment covered under it.