Insurance Blog – More flexible, these are the critical illness insurance benefits you need to know
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If we can choose, we certainly don’t want our old age to be marred by disease. What is meant by acute illness? This type of disease includes cancer, heart disease or stroke, kidney failure. In fact, critical illness is now beginning to attack people of reproductive age. This disease can last for a long time and cause a decrease in the quality of life of the sufferers and bring a lot of treatment costs. At such a time, the benefits of critical illness insurance will be felt.
Many people think that public health insurance is enough to cover the cost of treating critical illnesses. In fact, regular health insurance is not enough. Want to know why?
Critical illness insurance
As the quality of life of the world’s population increases, there is a need for a safety net, especially for the elderly who wish to continue receiving health care facilities in their old age. According to an article in Investopedia, critical illness insurance was developed in 1996 after many people realized that illnesses such as heart attacks or strokes had the potential to cause huge financial losses.
Even if you have adequate health insurance, a serious illness can be a heavy financial burden on your family.
If the policyholder experiences this illness, the critical illness insurance itself offers financial benefits:
- Cardiovascular diseases
- Kidney failure
As it is known, these diseases require treatment that is quite draining and must be done in the long term. In some health cases, drug treatment such as dialysis or chemotherapy is required, which can cost up to millions of rupees for a single treatment. These costs are usually not covered by regular health insurance.
Health insurance is not ordinary
Unlike general health insurance, critical illness insurance has more specific benefits, i.e. a number of critical illnesses on the policy’s list. Depending on the provider, each critical illness insurance has its own exclusions.
Because it is reserved for specific types of illnesses, critical illness insurance has lower premiums than general health insurance. But, don’t forget that several other factors also affect the premium price, for example age, lifestyle and the benefits offered by the insurance.
In addition, critical illness insurance support is usually provided in the form of an indemnity or indemnity. lump sum, according to the amount specified in the insurance policy. This compensation is awarded when the insured is diagnosed with the disease listed in the insurance policy and is in a living condition.
Some critical illness insurances provide benefits when the insured suffers from a critical illness in the early stages. There is also insurance that provides benefits only when the insured has an advanced stage of acute illness. To ensure this, it is necessary to read the insurance policy carefully.
Unlike health insurance, the use of critical illness insurance benefits is not limited by the insurance provider. This means that the insured can use important insurance benefits for treatment that is not covered by BPJS insurance for example, or other expenses such as:
- Medical or treatment services that are not covered by regular health insurance
- Per diem fees allow patients to focus their energy and time on treatment/treatment
- Transportation, for example to the chemotherapy site
Benefits of critical illness insurance
Apart from financial support for the burden that may arise due to malignant diseases, what are the benefits of critical illness insurance that you should know?
Protection of assets and savings
We often hear how terminally ill patients have to sell their assets to cover medical expenses. By transferring the risk of treatment costs of this critical illness to an insurance company, your assets or prices are relatively protected. This insurance prevents you from going bankrupt due to expensive and long-term medical expenses.
Charges for additional treatment
The sum assured, which is paid in cash, provides flexibility to recipients to receive treatment or treatment not covered by public health insurance. For example, cancer patients may need traditional treatment to reduce the symptoms they feel after chemotherapy.
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Compensation for lost income
Treatment of critical illness can be done in the long term. Some treatments sometimes require patients to be treated for more than a week. For example, heart surgery such as bypass requires a patient to undergo at least a full week of examinations and treatment, often longer. Not to mention, after that the patient usually still needs regular treatment to recover. For those of you who have a daily income, for example business or work FreelancingOf course, there will be a decrease in income. You can use critical illness insurance cash benefits to pay for your daily needs during treatment.
It gives peace
Having critical illness insurance gives you peace of mind as you have enough funds available for treatment as well as the cost of family procedures. This peace of mind is definitely needed to help you undergo treatment to achieve recovery.
Flexible critical illness insurance
Have you already found out how critical illness insurance works and what are its benefits? Make sure you’re covered by the right critical illness insurance, okay?
To ensure this, you can look for critical illness insurance that suits your needs and budget. If needed, it means insurance can provide the protection you need. For example, if you have a history of heart disease in your family, what you need is critical illness insurance that specifically covers the cost of heart disease.
Roja offers critical illness insurance that you can tailor to your needs and budget. This insurance protects against cancer, heart diseases, diseases caused by mosquito bites, kidney failure and blood vessel disease with a sum assured of up to 1 billion rupees.