If you are not aware of critical illness insurance, what diseases does it include, what is the premium for the best critical illness insurance, then here we are to acquaint you with it. It is imperative for you to understand all these details before buying one.
What is Critical Illness Insurance?
As per WHO, in 2019, the top cause of death was cardiovascular disease, one of the critical illnesses. Critical illness insurance provides you coverage for prolonged and serious diseases such as cardiovascular disease, cancer, kidney failure, lung and liver diseases, heart attack, paralysis, blindness, and much more. You can get this cover included in your health insurance policy on the payment of added premium.
Many people have already taken the best critical illness insurance policy to keep themselves protected and avoid denting their budget by paying exorbitant hospitalization and treatment expenses.
Critical Illness Insurance Features
Critical illness insurance covers the insured in the event of diseases such as cancer, stroke, kidney failure, aortic surgery, bacterial meningitis, brain tumour, organ transplant, organ failure, motor neuron disease, cardiovascular diseases, etc.
Critical illness insurance can be provided to an individual or family indemnity cover. It is simple to buy, and you can remain secured for more than thirty critical illnesses as per the terms and conditions of the policy.
Some of the best critical illness insurance provided by trusted insurance companies, such as Care Insurance, also includes additional features such as psychiatric counselling to ensure a speedy recovery. Apart from this, you also get comprehensive coverage at a low premium for pre and post hospitalization expenses, prompt claim settlement, easy EMI Option, and 24×7 customer support.
Premium For The Best Critical Illness Insurance
It is essential to understand how the premium for the best Critical Illness insurance works before you sign up for the facility.
The critical insurance premium is the amount that you need to pay to your health insurance company to get the policy benefits in return. You can select the frequency of the premium payment. For example, it can be monthly, quarterly, half-yearly or annually.
Firstly, you will have to decide on the best critical illness insurance policy plan. There may be two to three different types of critical insurance policy plans categorized based on the number of diseases covered. In addition, if you have a pre-existing medical condition, then the plan might be different for you with a higher premium.
Your premium will depend on many factors such as your age, the number of insured persons in the case of a family cover plan, pre-existing conditions, the medical history of the family, scope and amount of coverage, and much more. The premium will increase with your age. Similarly, the premium also depends on the selection of the best critical illness insurance plan and the sum insured. The more the coverage or the sum insured, the higher is your health insurance premium amount.
Body Mass Index or BMI is also referred to by the insurer while calculating the premium. BMI is the ratio between your height and weight. In the case of an unhealthy BMI, you are at a higher risk of diseases such as heart ailments, diabetes, etc. In this case, your premium will be higher. On the other hand, if you have a healthy BMI, then the risk is lesser, and the premium amount is lesser. Many of the best critical illness insurance companies also consider other key factors like your lifestyle, current health conditions, etc., while deciding the premium amount.
You can also calculate the premium yourself. As you decide the sum insured, you can visit the website of the insurance company and look for the premium calculator tool. Trusted insurance providers such as Care Health Insurance provide easily accessible calculators on their websites to make your purchase process convenient.
Using the best critical illness insurance premium calculator, you do not have to depend on your insurer. You can get an idea of the estimated premium yourself without any hassle. Moreover, this premium calculator can be used for free.
You just need to enter the details asked, and you get to view your estimated premium in just a single click. This way, you can also keep entering different insurance amounts to suit your budget. It is a quick and convenient way to do the right calculations. Using this calculation, you can view the chart of your payable best critical illness insurance premium anytime you want.