Financial cover is offered by this insurance to a family and beneficiaries if the policy holder suffers from critical illness or death. There is upper limit for payment of compensation in general health-insurance policy. It is difficult to cover medical expenses of a person who suffers chronic illness in this general health-insurance policy.
Expenses which occur from an individual's long term recovery from an illness, will be paid by this insurance. Each medical bill is not paid by the the critical illness insurance, payment is provided by this for any condition which is listed in the policy.
This insurance starts paying as soon as the sickness is identified. Medical test expenses, the treatment and any daily expenses are paid by this policy.
Generally, comprehensive medical tests of the applicant are conducted by insurance company, before confirming the critical illness insurance policy. Insurance company checks the individual's health record and family's medical history. If an individual does not reveal the personal information or family's medical record properly then the application of the individual can be rejected by insurance company.
Commonly these following sicknesses are covered by a basic illness insurance policy such as:
cancer, traumatic stroke, quadriplegia, loss of limbs, heart attack.
Generally, the major illnesses like HIV or AIDS, angina, drug abuse and self caused injury are not covered by many insurers. Before taking the policy, it is better to read the policy and understand the extent of cover.
There are many benefits with this insurance policy, these can include returning of the premium after some specific years. If an individual pays the premium on time then there is a coverage renewable guarantee.
Expenses which occur from an individual's long term recovery from an illness, will be paid by this insurance. Each medical bill is not paid by the the critical illness insurance, payment is provided by this for any condition which is listed in the policy.
This insurance starts paying as soon as the sickness is identified. Medical test expenses, the treatment and any daily expenses are paid by this policy.
Generally, comprehensive medical tests of the applicant are conducted by insurance company, before confirming the critical illness insurance policy. Insurance company checks the individual's health record and family's medical history. If an individual does not reveal the personal information or family's medical record properly then the application of the individual can be rejected by insurance company.
Commonly these following sicknesses are covered by a basic illness insurance policy such as:
cancer, traumatic stroke, quadriplegia, loss of limbs, heart attack.
Generally, the major illnesses like HIV or AIDS, angina, drug abuse and self caused injury are not covered by many insurers. Before taking the policy, it is better to read the policy and understand the extent of cover.
There are many benefits with this insurance policy, these can include returning of the premium after some specific years. If an individual pays the premium on time then there is a coverage renewable guarantee.
1 comment:
Yes, it's truly important that we know more about critical illness insurance now. Many of us have opted for disability insurance in order to stay protected from a severe illness.
With disability insurance, we'll have to accept a stipulated amount that our insurer pays once we're spotted with a listed disease. In comparison, Critical illness insurance will pay us the total policy limit for any listed disease that we claim for.
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