Kingsley Critical illness is something that nobody wants to come face to face with. But at times, one may have to face them, either themselves or in the family. One of the things that come with a critical illness other than emotional stress is financial liabilities. Any type of critical illness brings expenses like diagnosis, medication, hospitalization, surgeries, therapies, etc. This is the reason, why one should be ready for any such situation with a reliable insurance cover.
Critical illnesses are covered by critical illness insurance coverage. If one has an insurance policy, then in case of any critical illness, one will have the money required to pay the medical bills. Bread earners, people above 40, who work in high-stress jobs, and people who have a family history of critical illness should get this policy.
Here are some helpful tips:
Check the premium to be paid
Premium is one of the major decision-making factors among most insurance buyers. Premium is a fixed amount that the insured will have to pay the company in regular intervals for a fixed set of times. One should calculate the amount to be paid every time, to see if it fits the budget perfectly.
Check the maximum coverage
Coverage is the extent of expenses that the insurance policy will cover. Always read the documents and the brochure of the policy before choosing any. One should have a clear idea of what all expenses and diseases are covered under the policy. Always choose a policy with maximum and wider coverage.
Know about the exclusions
Exclusion points are those instances in which the company can refuse to settle the claim. Always read the complete list of points of exclusions of critical illness insurance. This will give an idea of when one should not expect the company to pay the insurance money.
Check the age limit, sub-limits and waiting period
Every insurance policy has some age limitations. Always read, what is the age limit on renewal of the critical illness policy? This depends and differs from company to company. Another factor that matters a lot is the sub-limit. This is the limit after which the company will not pay for the expenses.
The sub-limits are imposed on certain diseases and on room rent of hospitals. Also, one should check what the waiting period of the policy is. That is after, how long the policy can be claimed after commencement.
Before buying any insurance policy, it is highly crucial that one pay attention to all the terms and conditions of the policy. Always check the features, eligibility criteria, and crucial points before taking any decision.
