Critical Illness Insurance is highly misunderstood as a regular health insurance plan by most people. However, a critical illness plan and a health insurance plan are different types of insurance policies, with different features, providing different benefits and payout options. We have listed below the common myths people have about critical illness plans:
Myth 1: Critical Illness Insurance is same as Health Insurance.
Fact: A regular health insurance plan also known as mediclaim will cover your basic hospitalization expenses when you’re admitted in a hospital. Whereas a critical illness insurance plan will provide you a lump sum amount as financial protection in case you’re diagnosed with a critical illness like cancer, heart disease, chronic kidney failure, etc.
Myth 2: You don’t need to buy a critical illness plan when you are young.
Fact: We all are aware that a critical illness doesn’t ask the age, it can affect any one and every one irrespective of their age. In today’s times, many young people are being diagnosed with critical illnesses due to several reasons including sedentary lifestyle, unhealthy food and stress at work. So it is never too early to get yourself covered under a critical illness plan.
Myth 3: If I am covered under a critical illness plan, I am covered for every other kind of critical illness.
Fact: The list of critical illnesses you are covered for differs from insurer to insurer and plan to plan. Your policy will have a pre-defined list of critical illnesses mentioned in it. Refer to that list before you buy the plan to understand what critical illnesses are covered under your plan.
Myth 4: I don’t need a critical illness insurance plan because the chance of survival after being diagnosed with a critical illness is anyway less.
Fact: That may not always be right. The advancement in science and medicine has led to treatments that can help most people survive, increasing life expectancy. So you’re not losing anything by getting yourself a critical illness plan.
Myth-All critical illness insurance plans come with a higher insurance premium.
Fact: Not all critical illness plans are expensive. Also, the earlier you buy the lesser your premium and higher your chances of getting an issuance for your policy. So, don’t delay buying a critical illness plan, calculate your premium now: https://www.edelweisstokio.in/criticare/buy