You must have heard of how people were caught unaware when they or their family members had a heart attack/stroke or were diagnosed with cancer or other medical ailments. Such illnesses could impact anyone deeply and be life-threatening as well. The physical and emotional imbalance caused due to them could make it difficult to lead a normal lifestyle.
Additionally, it may cause income loss and create financial insecurity in the family. Moreover, for treating such illnesses, you need to hold up under a ton of medicinal expenses, and while doing so, you may end up depleting your savings. It is always wise to be prepared than to repent later. To avoid such a scenario, it is better to have health protection plan that takes care of illnesses (by providing financial support) without burning a hole in your pocket.
Why is a general Mediclaim policy not enough?
A general Mediclaim policy will usually pay only for inpatient hospitalization, but the entire treatment cost is not covered. The end amount henceforth would not suffice for the high costs of treatment (for critical illnesses). To overcome such financial constraints, complete health protection plans are designed to cover medical expenses that your normal Mediclaim doesn’t cover.
Health insurance plans these days cater to every health-related need of an individual, as against a regular Mediclaim policy. Here are two incidents which only a targeted health plan will cover you against:
1.) Cancer
Malignancy is a word that no one loves. In reality, we know that cancer isn’t constrained to genes and can be attributed to lifestyle habits too. Hence, it is smarter to be safe than sorry later. There are presently more than 100 sorts of cancer that have been recognised, which can affect any part of your body.
In India, over seven lakh individuals are diagnosed with cancer every year,and more than five lakh individuals lose their lives because of this serious malady. It doesn’t end there-the battle against cancer is inflicted with high treatment costs which has increased significantly in acouple of years. Numerous individuals spend all their life funds and take up loans to bear the cancer treatment costs.
However, you can breathe a sigh of relief as health protection plans act as your saviour in tough times. These types of health insurance (critical illness insurance) provide assistance during minor as well as major stages of cancer. To abstain from hampering lifelong savings and battle against financial shortcomings for medicinal treatment, these plans play a vital role. By offering lump sum amount in one single transaction, such health protection plans take care of expenses caused amid the cancer treatment.
It’s valuable to have this health cover over and above your current Mediclaim plan as it provides a more extensive cover. The lump sum that you get can be used for further cancer treatment, to pay off debt obligations, or to keep up a monthly monetary source because of loss of income.
2.) Heart Diseases
The incidence of heart-related issues is on the rise due to the uneven way of life, improper eating habits, and bad working hours. This calls for higher demand for health insurance plans to handle any monetary crisis emerging out it.
Additionally, the increasing occurrence of heart-related disorders and cost of its treatment has led to rising need for health insurance. Any coronary illness which is at a curable stage requires higher spends on medicine, hospitalisation, prescription and doctoral advice. When you consider the same from the perspective of covering with your existing Mediclaim, it might be an unthinkable task inmost of the cases.
Insurance companies have begun offering health insurance plans for specific heart diseases. These plans accompany twin cover benefits, they do not just take care of health-related expense, yet they likewise give an additional term cover- in the event of death, the benefitsare provided to the dependents.
Conclusion:
It’s better to opt for a comprehensive product to get the maximum coverage. It would help you in kicking away obstacles that come in the path of seeking quality treatment.
Also, the older you get, the more premium you need to pay and the higher the chances of developing medical problems (this may come in the way of being eligible for medical coverage). Hence, it is a smart thought to invest in health protection plan when you are young and free of ailments. So, buy a health protection plan today to have better tomorrow.