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Why Is Critical Illness Insurance a Necessity in Today's Time

October 20, 2023 1525

Life is very unpredictable, we are unaware of what might happen the next moment. Have you ever thought about how your life would change if you were diagnosed with a life threatening illness? All the finances that you had saved to fulfil your goals, you might have to put them at stake to get yourself treated. Critical illness is common in today's world, what we inherit from where, cannot be predicted. Our lifestyle, food habits and pollution are constant threat to our health. When someone is diagnosed or goes through a tragic illness, they often go into survival mode and don't think of these things but the reality is you need to. And, its better to plan ahead for this then to have the mentality of this won't happen to me because lets admit, whatever we see people going through these days is scary. Thus investing in critical illness insurance becomes very important.

Not just mental trauma, these kind of uncalled illness also brings financial trauma. There are certain benefits of investing in critical illness insurance:

Cost of critical illness is very high: Affording the costly medical treatments is not everyones cup of tea. So you will need Critical Illness insurance policy to cover all the expenses related to the listed critical diseases.

Lump sum benefit: The policy holder will receive a lump sum cash payment if they are diagnosed with one of the specified illnesses from the pre determined list.

Financial benefit: If the insured person suffers from certain critical conditions then a lump sum payment is provided to the policy holder.

Not just the person suffering, just imagine the plight of the people associate to the sufferer. The psychological and financial tension the family members go through. We obviously do not want to put our loved ones in a situation where they feel miserable due to the financial expense incurred on them because of our medical condition.

HDFC Life Critical Illness Plus Rider provides a financial helping hand during such tough times. The policy holder gets lump sum benefit on diagnosis of any of the 19 charted critical illnesses which can be used to cover the medical expenses. Why not just go ahead and plan for the worst case scenario and start an investment towards safeguarding yourself and your near and dear ones from the trauma of medical finances.

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Francis Rodrigues

Written By:

Vishal Subharwal

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