Radha has spent most of her working years at the same pharmaceutical company for which she is now a Director. Being a part of the medical industry served her well. She realised the importance of investing in a term plan early in life and took out a term plan with a critical illness soon as she could afford it.
A year ago, crisis struck and Radha was diagnosed with cancer. The diagnosis took a serious toll on her family. As Radha is the primary breadwinner, it would have had an equally significant impact on their finances as well if it wasn’t for her cancer care plan. She says, “My family had enough on their plate having to deal with my diagnosis. I’m relieved that they don’t need to add my medical bills to the list of their worries. With the costs of cancer treatment being sky-high, I’m glad that I have my insurance to fall back on. Because of that, I’ve been able to focus all my energy on getting better and am now on my way to a full recovery.”
Radha has opted for a plan named Edelweiss Tokio Life Zindagi Plus. It is a term plan which also covers critical illnesses like cancer, heart disease, chronic kidney disorder, organ transplants and so on. This plan provides the entire lump sum amount on the diagnosis itself and the amount can be used for hospitalization and regular use just as an income replacement. So now that I am unable to work and provide for my family, Edelweiss Tokio Life Zindagi Plus is ensuring that their needs are taken care of. It also provides a multiclaim option where in case a critical illness strikes the second or the third time then the insurer will still pay the claim amount and she don’t have to pay the premiums after the first claim, which is now.
Medical research suggests that cancer cases are expected to rise by 25% by 2020. While these statistics are concerning, the advancement in medical research and development have made it possible to treat them. The key lies in getting the right treatment at the right time. However, the treatment cost involved is highly expensive and require extended medical treatment, frequent visits to the hospital and a lengthy recovery period.
To battle against critical illnesses you need early detection, timely medical intervention, and the finances to pay for the treatment. While your regular health plan will secure you against basic diseases or minor ailments it may not be sufficient to cover the treatment costs involved in a critical illness.
Hence, to be financially prepared against critical illnesses you need to plan like Radha!