- 27 JUL 2016
How Critical Illness Cover Helps You To Tackle Rising Medical Costs In India
Over the past decade or so, medical facilities have improved tremendously, thereby improving life expectancy rates. Diseases and illnesses like breast cancer and cardiac arrests requiring surgeries, which were rare once are now done by a lot of hospitals. There is however a caveat to this progress - the rising costs of critical illness and medical expenses in general.
Nature of medical costs
A simple visit to a specialist like a gynaecologist or a neurologist costs you Rs.1000/-. If you have a condition like dialysis that warrants regular visits to the hospital, each visit may put you back by Rs.20000-25000. Put together with medicines, these costs cannot always be covered through a mediclaim policy. A mediclaim policy would only be able to help you with the hospitalization costs. It will not be able to help you with costs like home EMI's, children's school fees, living costs etc. How are all these costs related to your illness?
Suppose you are at a bonfire picnic and you suffer burn injuries to your hand. You are taken to the hospital and treated successfully. As is the case in most burn injuries, you would generally need a period of 2-3 months to recover. If you cannot engage yourself gainfully during this period, how would you run the show at home?
In the absence of any provision, you will have to dip into your savings. In such situations, a critical illness cover is extremely beneficial. A critical illness plan (Edelweiss Tokio Life – CritiCare+) is a type of life insurance policy that provides you with a lump sum amount on the occurrence of a pre-specified critical illness. This amount is provided to you on production of the diagnosis report of the doctor, irrespective of whether or not you need to be hospitalized.
Taking the previous example, if you would have bought a critical illness cover of Rs.25 lakhs, on occurrence of the burn injury, you would same. This amount could help you with the initial deposit that you needed to make before admittance into the hospital and also with the other expenses like EMI's, children's school fees etc. This ensures that your current lifestyle is maintained in an uninterrupted fashion. You can use this money for any purpose as per your convenience.
Your life could be put into turmoil by the occurrence of a critical illness. To prevent it from disrupting the regular flow of your life, buy a critical illness plan today.
- 17 JUL. 2018
Keeping in pace with the promises of life
“90.18 kms in a day!” Hearing this, my non-runner friends laughed. But that didn’t discourage me. After all, my mantra is simple–One life, make the most of it.read more