Choosing the Best Critical Insurance Plan

The thought of any illness can be overwhelming especially when it is a critical illness. Such unexpected health setbacks can be daunting for the person diagnosed with the illness and also for their immediate family. Over and above the emotional toll on everyone, the financial burden can seem overwhelming and cause severe mental strain and hardship. This is why it’s important to choose a plan that is right for you! What a critical illness plan does is, to provide financial security for diseases such as heart attack, cancer, paralysis or stroke, etc. These illnesses require a heavy payment and most of the time immediately.

A critical illness plan is imperative and can protect you and your loved ones from sudden critical illness with flexible sum insured and reduce the overall medical expenses. The way to choose the right plan is to take into consideration a couple of essential factors –

• The number of illnesses covered

One of the main factors when choosing a critical insurance plan is to check the number of serious illnesses that are covered under the policy you wish to purchase. You should also keep in mind lifestyle factors and family history and see diseases that you or your family members might be prone to. Unless the diseases that are important to you are not covered – it’s essential to keep looking for a different policy.

• Sum Insured

It’s best to research the amount that will be required for most critical diseases. This will give you a perspective on how much money would be required at the time of hospitalization, pre-hospitalization expenses, etc. Accordingly, you can choose the policy that is best for you.

• Waiting Period Involved

The waiting period is of the essence as you would want to avail a policy that would provide you with benefits quickly. Read the terms of the waiting period before taking a policy as it should align with your needs.

Life is unpredictable! Which is why we believe it’s essential for everyone to purchase a critical illness plan. Here are some offered by Chola MS. So even if you cannot predict the future, you can at least financially protect yourself from any shocks.