Should you find difficulty in the day-today management of general living expense, outstanding bills or keeping up with a mortgage, what would happen if a stroke or injury was sustained and changed life as you know it? The costs of medical care and impact of dread disease can quickly drain your pockets. If you can no longer work and have a family to provide for, what happens to them?
Critical illness is a form of insurance cover that has been created with sudden, lifelong disease management in mind. Heart attacks, strokes, Alzheimer’s and degenerative conditions leaving you cognitively or physically impaired. These imbalances will compromise your quality of life, but the expense of therapy, prescription medication and general treatment, can become exorbitant.
If you cannot maintain employment owing to your condition, the lack of a salary can soon deplete private medical aid. The burden of coping with physical changes and providing for your family can become too much to bear. Fortunately, the purchase of critical illness protection helps provide a lump sum cash payment once a claim is made and approved. The funds can be used to support medical costs, settle bills or simply serve as a financial backup for future needs.
What is Considered Critical Illness?
Critical illness includes any long-term disease or chronic injuries sustained from accidents and traumatic events. The list of disorders deemed critical under insurance policies will vary between providers. Careful assessment of exclusions in every type of policy can help you learn which ailments are covered and which are not.
Conditions impeding healthy function, compromising mobility and affecting cognitive operations require lifetime care. Physical damages having caused brain injuries or mobile impairments are examples of critical illnesses. While certain types of cancers are included, terminal diseases are excluded.
By contacting the relevant insurance providers, you can learn which conditions are covered by the policy. Always read the fine print and avoid buying costly coverage that will not pay-out for a specific disease or injury upon making a claim.
Insurance providers will not cover current diseases. If you have suffered a stroke and presently receiving treatment or on prescription medication for cardiovascular conditions, these will not be protected. Only ailments that appear after a policy is purchased will qualify for a claim.
The Benefits of Critical Illness Policies
You need critical illness cover to mitigate the outstanding costs on your private medical insurance.
Lifelong care and treatment are expensive and will quickly diminish medical aid.
Additional finances can help address outstanding debts and general living expenses.
It serves as a superior means of support when receiving ineffective or insufficient assistance from the NHS.
Cash may be used for more advanced treatments not covered in a private medical fund.
Hearing the diagnosis of a chronic illness or lasting injury and its impact on your health and finances, is certainly devastating. Unfortunately, such occurrences do not only affect your life, but the lives of your loved ones, your children and family. You cannot control or predict the future, but you certainly can act to minimize the risk. Critical illness insurance is an effective and supportive policy created to ease the burden of financial difficulty and its limitations. When you have suffered the news of a critical diagnosis or managing the symptoms of chronic dysfunction, you do not wish to be stressed and impacted by limited funds.
Learn which Types of Cover Suit Your Healthcare Needs
Policies for critical illness includes comprehensive coverage. This means that all diseases and injuries as listed within the policy will be fully compensated.
Using an online insurance and quote comparison service helps your find policy options that are affordable and flexible. Remaining transparent of the costs and comparing quotes can deliver affordable solutions.
For your own peace of mind and the financial future of loved ones consider critical illness coverage.