Does Critical Illness Insurance Provide Enough Support?

Whilst it is true that people live longer nowadays than years ago, it is equally true that we are more likely to suffer from a critical illness before we actually die. A Critical illness cover aims to pay a tax-free lump sum when someone insured claims for his critical illness. Actually critical illness insurance is one of the most bought insurance policies.

The risk in today’s daily tasks and among hard working people, mainly in England has elevated. People have started to work much longer hours thus leading to a stressful environment and lifestyle. A critical illness such as heart disease could be the most common reason to bring down the health of these people. Now think of you. What is the type of work you do? How can it affect you in a long term basis? These are questions that you should ask yourself. If you think that your lifestyle exposes you to health risks and complications, you might want to think of a critical illness policy.

Now assume you happen to suffer from a critical illness. What will be the effect on your family and children? You will not be able to attend work. Your income that used to pay for the continuous running of your house may be lost. More important, your loved ones start to fear losing you. Normally during such cases, a tense environment carves itself in. Your critical illness may drive the feeling of insecurity among members of your family and play a nasty game with their morale. A financial imbalance may also appear as money is needed to take care of you and keep the house running. Bills have to be paid. Any loan that you have must be paid. The children have to continue going to school. If you had insured with critical illness insurance, you could have got enough money to settle these debts during your worst days.

Most people insured with critical illness insurance, strongly rely on its payout. To be able to obtain a payout without any problem, you should provide accurate information about your health, actual and historical. Some people have their critical illness insurance claim rejected because they did not reveal vital facts about their health. Critical illness insurance looks at this factor closely. If members of your family suffer from a specific disease, you should let your insurers know about the fact. You could be made to undergo medical tests. The results could be verified before accepting you as a critical illness policy holder.

Anyone who has a critical illness insurance may be sure to have a definite advantage. You could be suffering from a critical illness at any point in the future. If you have no dependents, you may have enough money to cover your medical expenses. Then, if by misfortune you are disabled, you could even pay someone to look after you everyday. If you have a family all financial drain that your critical illness may cause could be alleviated.

Moreover, critical illness insurance could take about three months to disburse you the payment. Should you die during this time, then the money could go to your inheritor. For example, your wife. Critical illness insurance takes this time to verify if your claim is in complete rule with them. Actually seven major diseases are covered by most critical illness insurance companies. The prices are more competitive than before as more insurance companies have shown up. On the other hand more and more people are seeking for critical illness cover. But as a measure of precaution you should ensure that you do not get stuck with incompetent insurance companies because of low prices.

Thus, the bottom line remains that critical illness insurance may provide enough support to someone. Make your choice wisely from so many critical illness insurance companies out there. Put your mind at peace by carefully choosing a reliable company offering a comprehensive critical illness policy.

Without Critical Illness Cover, Could Medical Charges For Some Critical Illness Treatments Be Matche

The advances made in the medical field may have indeed saved the lives of one and many. When one talks about critical illness, treatment is what may crop into one’s mind next. Let’s have a look at some statistics about how important the medical sector has become.

People who suffer from a critical illness before reaching the age of 65 have twice as much chance to survive than to die. Around 12.4 million people still alive today may have already been treated for a critical illness such as heart attack. Also, approximately 4.5 million victims resulting from a critical illness like stroke may still be alive nowadays. Nearly 8.4 million people still alive these days may have a history from a critical illness as lethal as cancer. Moreover, about 50 to 70 percent of stroke sufferers may have been able to step out from disability. Similarly, around 88 percent of people below the age of 65 suffering from the critical illness heart attack may have regained their work.

The rehabilitation process from a critical illness may sometimes take a long time. This can involve the loss of income, thus the inability to pay for necessary treatments. There may be a considerable amount of critical illness sufferers who have to undergo a financial breakdown in the event of a critical illness. The reason may be because of the indirect costs associated with the illnesses. As per the Harvard University, around 50 percent of bankrupt people in the USA may be due to paying out medical bills. Yes, appropriate treatments now exist but the value of these treatments has also to be matched. So, many people fail to cope with the medical charges as well.

In countries like USA and South Africa Health Insurance exist. People who cannot afford a critical illness cover can still go for Health Insurance. In South Africa Health Insurance may be cheaper than critical illness insurance and may also better advantages than critical illness cover. But this fact cannot be generalized because the foundation of critical illness cover had been made in South Africa. On the other hand, Health Insurance in the USA may not provide enough coverage for one to step out of critical illness and lead a normal life. To prove this fact, the American Cancer Society may have found out that around 66 percent of the cost of cancer treatment may not be covered by health insurance. Here are some of the expenses that health insurance may not take in charge:

� Out-of-network medical treatment
� Experimental treatment of the specific critical illness
� Home and/or automobile modifications (e.g., wheelchair ramps)
� Rehabilitation after treatment of the critical illness
� Insurance co-payments and deductibles
� Home health care
� Uncovered or additional prescription drugs
� Travel to receive special treatment for the specific critical illness
� Second medical opinions for the critical illness in question

Income protection insurance, mortgage protection insurance, disability insurance all help to play an important role in case you are unable to afford a normal living. These may of course help in different situations. But critical illness insurance may differ from these in such a way that it can provide the insured with the peace of mind to maintain his usual living. With critical illness cover the insured may have no restriction in the way he wants to use his payout.