Critical Illness insurance

The Importance of Critical Illness Cover

7th April 2021 8min read 559 views

In India, heart diseases claim the most number of lives each year, followed closely by cancer. These critical health issues are often chronic, and getting the necessary treatment can set you back quite a bit. What's more, people may not realise that their regular health insurance plan does not cover critical illnesses. Dealing with these medical conditions isn’t just physically, financially and emotionally draining for the person, it also takes a toll on their family members. Critical Illness insurance can help you deal with a difficult diagnosis. Here’s a look at three crucial reasons why you need to have critical illness cover in addition to your regular health insurance plan.

1. To Pay for Treatment

Your critical illness health cover will provide you with a lump sum payment, as per your term and conditions, on the diagnosis of a covered critical illness. You can use the money you receive to pay for any treatments that you may require. Treating an issue such as cancer can take several months and could end up being very costly. The critical illness cover will help alleviate your financial strain.

2. To Recover Lost Income

The toll that a critical illness takes on your health might mean you have to miss work for several week or months. During this time, you may not be able to contribute to your family’s monthly income. You can use some money from the payout you receive from a critical illness plan to keep your finances afloat during a troubling and trying time in your life.

3. To Financially Support Your Family

There are many situations in which families rely on a single working member. If you’re the breadwinner and are diagnosed with a critical illness, it could end up being very difficult for your entire family. Not only do they have to deal with the physical and mental difficulties that come with such a diagnosis, but they also have to worry about their day-to-day finances. In such situations, the payout from a critical illness cover will help provide your family members with some semblance of stability.

All the top health insurance companies in India offer critical illness cover. Many provide this cover as a rider or add-on with regular health insurance plans.  Some health insurance companies provide critical illness insurance as a separate policy. You can decide which option you’d like to go for based on your current health plan, the kind of cover you’d like under your critical illness policy, and the premiums you’d like to pay.

At Edelweiss General Insurance, we understand the importance of having critical illness cover. If you purchase a gold or platinum Edelweiss health insurance policy, you can rest easy knowing that you’ll be covered even if you’re diagnosed with a critical illness. We offer critical illness coverage as part of our base gold and platinum plans. Even if you purchase the silver health policy, you can opt to include critical illness cover as an optional benefit. No matter what comes your way, we’ll have your back!

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