- 8 NOV 2016
How Does A Critical Illness Plan Offer You Financial Well Being
Everyone goes through various crises in life. This is the period when as Murphy's Law suggests, everything that can go wrong, does go wrong. These crises come unannounced and seldom do they give a warning before coming. When they come, they disrupt your life and throw it out of gear. A critical illness is one such major crisis.
How Does A Critical Illness Affect Your Financial Well-Being?
Apart from denting you physically and also perhaps emotionally, a serious cause of concern is the financial disruption that a critical illness causes. Everything may seem good, but suddenly one day you may get a squeezing pain in your chest and the doctors may diagnose you as suffering from a Coronary Artery Disease (CAD). How do you deal with it? By having a surgery performed through the Coronary Artery Bypass Grafting (CABG) method. Now, this may cost a lot of money. If you are covered by a medi claim policy, you may be able to take care of the hospitalization expenses. But what about the expenditure that a medi claim does not cover? What about the loss of income that would occur if you have to take rest at home and not go to work for 3-4 months?
A Critical Illness Plan
A critical illness plan like Edelweiss Tokio Life – CritiCare+ sees to it that your your financial well-being is not affected. In the event of occurrence of any of the pre-listed critical illness, a fixed lump sum amount is paid to you. This amount is not a function of how many days hospitalization has occurred or any other condition. Just on the basis of a simple diagnosis of the doctor, you are given this amount. This amount can be used by you for any purpose, like making payments on your EMI's, paying your utility bills, children's school fees etc. This plan would allow you and your family to tide over the difficult times that a critical illness brings. If your critical illness plan has the facility of a multi-claim option like this plan, it gives you enhanced protection.
You cannot do much to prevent these crises from occurring, but you can take steps to prevent it from damaging your and your family's financial well-being. Generate a quote today to find out how you can have this reassurance.
- 24 MAY. 2018
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