Critical Care Insurance
Critical Care Insurance or critical illness insurance is a policy that offers a substantial amount of money to the insured client is diagnosed with any critical illness. The money is paid in a lump sum directly to the insured. The cash amount is paid directly to the insured in one payment.
Critical care insurance includes a variety of illnesses and conditions that can affect any person. Some incidents that are ideally enclosed in critical care insurance associated with heart, like heart attack, heart surgery or many types of tumor, cancer, stroke, blindness, HIV/AIDS, Parkinson’s, paralysis, transplant, Alzheimer’s and severe burns. Each insurance company has different coverage options available to clients. These benefits/lump sum amount is paid irrespective of the other insurance policies the patient may have.
In Critical care insurance, funds are given directly to the insured. These funds are utilized by the patient as it suits him. These expenses can be direct like medical bills or some extra expenses like traveling, food or utilities. Critical care insurance ideally provides flexible alternatives to permit the customer to select a desired and suitable plan for his financial situation. Basically, a consumer pays a lower premium if he is younger and healthier. Thus, the cost differs depending on the age, medical situation, the coverage amount, the different illnesses covered in the policy, and the Insurance Agency.
It pays to shop around to get the best rate. When shopping for a critical illness plan, you should consider your income, financial obligations, dependents, and health care needs.
At the time of adversaries, you can make a claim if a licensed physician who is licensed to practice medicine in Canada and specializes in your particular illness, diagnoses you with a disease or illness that is included in your policy. After the claim is approved, a lump-sum payment is made in 30 days. You can use your payment the way you like and need. Once your claim is paid, your critical illness insurance policy ceases.