• 29 AUG 2016

    The importance of critical illness cover

    Critical illness is not medical insurance

    You must have heard of the term critical illness coverage and must be wondering as to why do you need something apart from medical insurance. Well, the answer is very simple. Medical insurance takes care of the expenses once you are in hospital and critical illness takes care of your expenses once you are out of it. Didn't get it? Let us explain.

    A minor heart attack

    Let's say, as usual, one day you left for office in your car. As you get out of the car after parking it in the basement, while walking towards the lift, you feel a sharp pain in your chest. Suddenly you start to sweat and have difficulty breathing. The security guard watches you collapsing down, clutching your chest and calls your colleagues for help. They come down immediately and take you to the hospital nearby. The doctors, after a series of tests, come to the conclusion that you have suffered a minor heart attack and further that you need to have a clot in your arteries removed. The affected artery has to be operated upon using the CABG(Coronary Artery Bypass Graft) technique which would ensure that the incisions are small.

    The surgery

    You and your family brace yourself for the surgery. Modern science has advanced so much that such surgeries are no more risky or a matter of life-and-death. The cost of this operation is going to be Rs1.5 lakhs. You are relieved that you have been religiously renewing your health insurance policy every year for the last 5 years. All the costs of the procedure will be covered. The doctors complete the procedure and remove the clot in the artery successfully. However, you are advised to take complete bed rest rest for at least 2-3 months, which means that you need to take time off from work during this time.

    After the surgery

    Now, there can be a problem here. You are supposed to take time off from work for the next 2-3 months, which means you will not be able to earn a salary for this period, unless your employer is generous enough to sanction a paid leave. This is highly unlikely and you may have to cool your heels at home during this period without income.

    How can critical illness cover help you?

    Critical illness cover is what can help you at this stage. Critical illness cover gives you a lumpsum payment of a particular amount on the diagnosis of any of the listed illnesses. So, as soon as you are diagnosed and slated for a surgery, you can claim and receive the payout. With this payout, you can make the payment of an advance at the hospital, keep your home loan EMI's regular, pay your children's school fees and also use it to pay for your living expenses. In short, you can use the payout in whichever way you deem it necessary. This amount will allow you to keep your head above water for the next 2-3 months, after which you will be up and kicking.

    Critical illness cover will help you tide over tough times

    So, you can see, critical illness cover is important for you to feel secure and help you tide over the tough times when you have to recover at home and cannot be remunerated. It will give you and your family the breathing space required so that you may recover properly from the illness without having to take any undue stress.

     

     

    • Leave a Reply
  • 13 OCT. 2017

    Get a Comprehensive Life Insurance Plan for Your Family this Diwali

    While tangible gifts form an important part of the rituals between parents and children for the festive season, some intangible gifts hold a deeper value.

    read more

request a call back

for a scheduled call back, please share:

contact us

branch locator

Please enter your mobile number

enter your contact details

anything amissshare your problem

file a complaint now

what did you find amiss?

please provide us with following information

file a complaint

check status here:

Product
mascot
mascot

Don’t wait. Complete your application by entering your transaction id.

mascot

Please enter your email address to get an email summary of your needs

mascot

By entering my contact details I authorize Edelweiss Tokio Life Insurance to Call or SMS me with reference to this enquiry. This overrides the DND registration of TRAI.