• 23 NOV 2016

    Top 5 Reasons You Need A Critical Illness Plan

    You may be having a health insurance policy which will provide security in case a medical crisis strikes. Considering the increase in the occurrence of illnesses, having a mediclaim policy is a wise and prudent decision, but is it enough to secure your financial welfare in the face of a medical crisis? 

    What is Critical illness insurance?

    It’s a type of insurance plan in which a fixed amount is provided to the policyholder on the diagnosis of a pre-specified critical illness during the policy term. This lump sum payment can be used by the policy holder in any manner that he deems fit.

    What are the advantages of a critical illness plan?

    Lump sum payment on diagnosis of critical illness

     Lump sum amount is provided to the policyholder on the diagnosis of a critical illness. This amount can help him meet his hospital/medical bills which may not be covered by the cashless mediclaim policy issued by your health insurer. This ensures an uninterrupted flow of funds if you face an emergency without having to dip into your savings.

    Financial liabilities

    Your financial liabilities like Home EMI's, children's school fees, utility bill payments etc cannot be defaulted as they can severely disrupt your life apart from impacting your credit history. With the lumpsum pay out from the critical illness insurance plan, you can ensure that you don’t have to face any such disruptions.

    Out-of-pocket medical expenses

    For procedures, like a Coronary Artery Bypass Graft done in a location that requires you to travel, you may incur expenses. These out-of-pocket expenses will not be covered by mediclaim. To execute such events, you may need funds which are provided by critical illness insurance.

    Maintenance of lifestyle

    People get used to a particular lifestyle depending on the income they earn. If, due to a critical illness, that lifestyle is impeded because of a dent in their income, it can cause emotional distress to the entire family. With a critical illness plan, you can ensure that this emotional distress is eliminated as you will be compensated for the loss of income if you are diagnosed with a critical illness. 

    Stress-free recovery

    With a financial back-up in place, your family will be at peace. Hence they can devote more time for your recovery. In case of single income households, the absence of a financial cushion, would mean your dependants may have to find a job to run household expenses  or they may have to depend on others for financial support. With a critical illness plan, your financial needs are taken care of, which will allow your family support you throughout your recovery.

    Conclusion

    A critical illness plan is an asset which provides returns in the form of peace of mind to you and your family in case you are diagnosed with a critical illness.  A critical illness plan can ensure you and your family members are financially secured. Protect yourself against critical illness today.

    • Leave a Reply
  • 13 APR. 2018

    Critical Illness vs Terminal Illness

    Whether it is marketing over television, radio or billboards, or pop-ups over the internet, insurers are increasingly trying to contribute to financial your literacy and equipping you with information to make the right financial decisions

    read more
Understand your insurance needs in few minutes

just give us a miss call 022 6611 6028

call

request a call back

for a scheduled call back, please share:

contact us

branch locator

Please enter your mobile number

enter your contact details

is there an issue? let us help you!

nothing to worry.

just fill in these details. we’ll help you out.

check status

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.
Product