5 Essential Tips to buy Best Critical Illness Policy
There are lots of uncertainties that have been related to our life and health, it's better to have a sufficient amount to insurance to cover emergency medical conditions. At times, investing in a basic health policy is not sufficient. If you come across some disease like cancer, strokes, Diabetes, etc. These expenses can't be covered by the policy and you have to spend extra money from pocket.In such cases, You can buy Critical Illness Insurance for yourself and your family.
What is Critical Illness Insurance?
Critical Insurance Policy covers the whole sum of the cost that occurred during the treatment of the Disease which can't be covered by the basic policy. Hence, it's not any substitute for basic insurance as it adds more cost to your Regular Insurance Policy. It is a definite cost that is paid for treatment of the disease.
Things to Keep in Mind Before buying Critical illness policy
Keep your current situation in mind
Firstly, before buying Critical illness policy consider your family structure, the present age of you and your partner , age of the parents. If there are senior citizens, then you will require more money for the policy. Your family depends on you, this policy will add an extra layer of safety for your partner against any unpredictable situation which may cost your financials. Choose your policy wisely as it doesn't affect other needs of the family.
Keep your Health Condition in mind
Your Current Health will decide whether you want this policy or not. If you are addicted to smoking or any other bad things, you are stressed at work, you become ill very soon, you will face serious health problems in future. It's better to start from now. Being addicted to bad things will cost you more. So, decide policy based on your health.
Your financial standing
This is an essential point before selecting insurance. If your current financial condition is not good, but you face critical issues, then you can opt for this policy with a smaller coverage. If doesn't matter whether you earn more, day by day rate of an insurance policy are increasing and it will affect inflation, choose your policy wisely.
Choose a plan which provides comprehensive coverage.
Don't choose your policy in a hurry. Even if you don't require Critical Insurance Policy, but it may be required in future. So before selecting any policy, view all list of diseases that are covered in policy by the insurer. Apart from this, if you don't understand any terms, ask the insurer regarding terms and conditions, make clear conversation with the agent before signing papers.
Choose a plan which complement your health insurance policy
At the time of selection of Critical Illness Insurance, also consider your health insurance policy, so you can get the best policy at an affordable price. By doing this, your health insurance portfolio will be secure.
Critical Illness Insurance adds an extra layer to your current Health Insurance, so choose your Insurance Wisely by keeping in mind unpredictable situations that life comes across.