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Do You Need A Critical Health Insurance For Heart Disease?
[Posted by: InsuringIndia Blog on 15-Feb-2016]

There's a common misconception that only people with a family history of heart disease or lifestyle issues can suffer from this serious ailment. A blocked artery, heart attack or any other related heart illness does not come with a warning. If you're not insured when this kind of calamity strikes, then it is certain to burn a hole in your finances, play with the financial future of your family and definitely escalate medical costs. Therefore, regardless of your family history, it is pragmatic to opt for a health policy which has a comprehensive cover that includes heart disease, within its ambit. 


Also, there has been an upsurge of cases where those younger than 40 years have suffered heart attacks and other heart related ailments. It makes sense to opt for this type of cover. Interestingly in the insurance market, some companies have come up with health policies for heart patients who've undergone angioplasty or a bypass surgery within a certain period of the inception of the policy. Usually, anyone who's suffered this condition finds it difficult to buy insurance cover afterwards. But the new policies are now addressing this issue. 


What a critical health insurance entails, essentially, is that if you're faced with incurring partial/total disability, loss of income, inflated medical expenses along with critical illness diagnosis, this policy is your best bet. You must opt for this after a certain age. This means that regardless of your already existing health policy which may be restrictive after a point in terms of expenses, most of your additional worries can now be dealt with, by the insurance company. Also, opt for a standalone policy for critical insurance. This is because it offers more flexibility in choosing the sum insured and larger covers when compared to riders which are clubbed with other policies. 


Depending on what type of critical health insurance policy that you choose, you will pay a fixed premium and avail benefits and compensation when required. There are varied policies for women and senior citizens available in the market today. 


Diseases covered & Benefits of Critical  Illness  Insurance


·        It is most beneficial for breadwinners of the family, who cannot afford to take a risk with their health.

·        This policy is a boon for anyone with a family history of critical illnesses. 

·        Anyone who wants to safeguard their health can opt for this policy.

·        A critical illness policy pays a lump sum on the diagnosis of a serious/critical illness. 

·        You are still covered even if your critical illness doesn't require hospitalization.

·        Common critical illnesses covered include- heart attack, stroke, cancer, paralysis, transplant of vital organs (heart, kidney etc), kidney failure, deafness, bacterial meningitis, end stage liver disease, end stage lung disease, bone marrow transplant, coronary bypass surgery, etc.

·        Opting for a critical illness policy ensures tax benefits

·        Recuperating and hospital costs are covered


Do's and Don'ts for choosing the best Critical Illness Cover 


Your checklist for choosing the best critical illness policy should take into account low premium and waiting period and the sum that should be assured by the insurance company should be at least four times of your annual income. But your biggest denominator should be choosing a policy with an extensive coverage of critical ailments because that will be your biggest safety net.


 Always evaluate your future financial liabilities & how much are you willing to pay. 

While buying these polices always read the fine print and compare existing policies --premium, benefits, disadvantages, sops, terms and conditions--to see what suits your needs the best. It's always best to buy an insurance policy online as it saves time, is cost effective and is a transparent option.

Get Free Comparison and Quotes of  Health Insurance For Heart Disease.

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*This is based on the difference between the highest and lowest premium's for a single person, age 25, looking for an individual health policy with the sum insured of Rs. 5 lakhs.
**This is based on the difference between the highest and lowest premium's for a single person, age 25, looking for a term plan, with the sum insured of Rs. 30 lakhs, and the premium paying term of 30 years.
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