- 2 JUL 2018
Four Reasons To Buy Critical Illness Insurance
Hemant’s weak body and his numerous health problems have always been his biggest weakness and a huge matter of concern. Hemant was a great student and was also the topper of his state board for the year of completing his higher secondary education, he was also an IITian and turned out to be a research intern in the Indian Space Research Organization. He was a perfectionist in everything he did but his health has always been concerning and troubling him for many years now.
There were several tests conducted to figure out the exact problem but there was no direct answer to the health-related questions or treatments. He was taken abroad for proper diagnosis and there were numerous tests conducted to figure out the exact problem and determine the cause. The tests revealed that he was genetically weak because of the complications that happened at the time of his birth. Hemant was given proper treatment and his health finally became stable.
The doctors told him that his immunity power is weak and he is vulnerable to diseases and hence, he should take extra care towards his health and he should try to live a healthy life ahead.
Hemant came back to his country and joined his office again but there was this concern always troubling him that what if in the later stage of his life, he falls under any heavy and critical illness.
Hemant had one of his friends who was working for a bank and he had in-depth knowledge of the banking and the insurance sector. He then suggested to Hemant about critical illness insurance and its benefits.
A critical illness insurance plan provides a lot of aid to every individual since it provides the entire sum assured as a lumpsum amount once a person is diagnosed with any pre-listed critical illness. Unlike, regular health insurance one doesn’t have to wait for hospital bills, etc. to claim the amount. Critical illness insurance covers the diseases like cancer, heart attacks, and other severe health problems. These insurance policies can significantly help you out in paying off for the treatments and also manage household expenses.
Hemant was explained about the benefits in details and the factors explained to him were:
- It covers not just one but multiple critical illnesses most of them are common like cancer and heart disease
- It provides the entire sum assured amount on diagnosis
- The premiums are fairly low for high cover.
- You get tax benefit under section 80D
- Above all it acts as an income replacement where this sum assured amount can be used to pay treatment costs, household expenses, utility bills and other liabilities.
Hemant could understand that critical illnesses are prominent and that it became imperative to secure oneself from all the unpleasant outcomes by securing himself with the critical illness insurance plan.
- 18 OCT. 2018
5 Key financial lessons to learn from Dussehra
Justin and Ajay are very good friends since childhood. Ajay joined Justin every year on Christmas celebration and Justin would join Ajay in Dussehra and Diwali celebrations. Like every year on Dussehra, they both will be enjoying Garba that happens in their society to the fullest.read more