Team AckoNov 17, 2023
The legendary boxer Mohammad Ali, the eminent physicist Stephen Hawking and Pope John Paul II have one thing in common. They all suffered from a medical condition called Parkinson’s Disease. A neurological disorder that inhibits natural body movements. If you know these personalities, you may be familiar with this condition. Although rare, it can be life-altering and the treatment costs could amount to a lot. In this article, we will be discussing if Critical Illness Insurance covers Parkinson's Disease.
Parkinson’s Disease, is a nervous disorder. It usually affects the nerve cells in the brain that are responsible for the production of a brain chemical called Dopamine. This chemical is typically responsible for the regulation of body movement. Hence, symptoms of this condition may include progressive imbalance and incoordination. Fortunately, with proper treatment, these symptoms can be managed to some extent.
The exact causes of Parkinson's Disease, are currently unknown. Nonetheless, it is speculated that it may be caused by genetic and environmental factors. Below are some of the common symptoms that show up in individuals suffering from Parkinson’s Disease.
Tremors in limbs
Stiffness of hands and legs
Lack of subconscious body movements (like blinking)
Loss of fine motor coordination skills
Usually, Parkinson's Disease cannot be cured. However, it may be treatable in most cases. Below are some of the common treatments prescribed by doctors.
Aerobic exercises like walking, running, swimming, etc.
Speech therapy from a speech pathologist
Physiotherapy to relieve stiffness and joint pain
Occupational therapy to implement lifestyle changes
Deep brain stimulation surgery
Medications such as levodopa, dopamine agonists, amantadine, etc.
Disclaimer: The above-mentioned treatments for Parkinson’s Disease are purely informational. If you or your loved one suffers from the disease, kindly seek the medical advice of a qualified doctor.
Also read: Family health plan
Fortunately, Critical Illness Insurance offers financial compensation for individuals diagnosed with Parkinson’s Disease. So, once the disease is diagnosed and a claim is raised, your insurer will pay you the sum assured as defined in the policy. This lump sum can be used to settle medical bills and take care of other expenses. The insured reserves the right to decide on how this amount is spent.
The following are the usual medical expenses that crop up while availing treatment for Parkinson’s Disease.
The survival period is the duration the insured is required to survive a condition before receiving a policy’s coverage benefits. Claims raised during this time will not be compensated. Under Critical Illness Insurance, the survival period for Parkinson's Disease is usually around 14 to 30 days. You can find the exact survival period duration of a plan by reading your policy document or by asking the insurer.
Suffering from Parkinson’s Disease can be a life-long challenge. Having Critical Illness Insurance will help you focus on coping with lifestyle changes, without needing to worry about finances. Also, your earning capacity may be hindered by this condition. Hence, the lump sum that your insurer will pay, may help you manage your expenses. Also, under “Section 80 D”, you may be able to claim a tax benefit of up to Rs. 50,000 (subject to changes) for the premium paid.
Also, read: 1 Crore Sum Insured
Below are some tips to avoid getting Parkinson’s Disease.
It is speculated that Parkinson’s Disease may result from exposure to pesticides. Thus, using organic alternatives may help.
The intake of B9 vitamin popularly known as folic acid, usually found in vegetables like spinach and broccoli, may reduce the risk of incurring the disease.
Intake of omega-3 fatty acids in the diet, like fish and soyabean oil, is believed to prevent the disease.
Regular practice of Aerobic exercises may also play a role in reducing the risk.
Critical Illness Insurance cannot be claimed in the following instances.
Pre-existing conditions are usually not covered. Pre-existing conditions refer to health conditions incurred prior to the purchase of the plan.
Claims raised during the waiting period. Waiting period is usually the duration before the commencement of a plan's coverage for certain situations. It spans around 90 days.
As previously mentioned, claims made during the survival period will not be covered.
Procedures that are not carried out by a medical professional.
Congenital conditions are not covered. Congenital conditions usually refer to diseases or disorders that an individual is born with.
Complications arising from birth control procedures or hormone replacement therapy.
Illness arising from unauthorised self-medication.
Health complications that may result from receiving alternative medical treatments like ayurveda, homoeopathy, acupuncture, etc.
Sexually transmitted diseases like Human Immune deficiency Virus (HIV).
Illness arising from indulging in substance abuse.
Injuries and medical conditions that result from indulging in adventure sports like skydiving, bungee jumping, hunting, etc.
Illness that may result from not following the medical advice of a doctor.
Medical conditions that may come about while indulging in illegal activities.
Illnesses that may result from being exposed to radioactive materials.
Critical Illness Insurance also covers other critical health conditions. So, you can receive protection from multiple health conditions by investing in a single plan. Below are some of the other health conditions that are covered under a Critical Illness Insurance Plan.
Certain organ transplantation procedures
ACKO Health Insurance Policy covers critical illnesses and has a sum insured value of Rs. 1 crore. Since the sum insured is high, you may be able to cover all your medical expenses within that sum. Also, there is no waiting period. Thus, you can avail of coverage from day one!
Additionally, pre-existing conditions are also covered. Usually, insurers cover pre-existing conditions only after the completion of a waiting period of 2 to 4 years. However, under an ACKO Health Insurance Policy, you can avail of coverage as soon as you buy the policy!
Note: Coverage for pre-existing conditions under ACKO Health Insurance Policy is applicable only if the conditions are disclosed at the time of buying the policy.
Suffering from Parkinson’s Disease may cause a lot of stress. But with proper treatment, support and motivation one may be able to lead a normal life. Since this disease may require major lifestyle changes, buying Critical Illness Insurance may help you sort out your finances. Alternatively, you can consider buying an ACKO Health Insurance Policy. That way, you can focus fully on fitting into your new normal.
The following questions may help answer queries you may have regarding Critical Illness Insurance for Parkinson’s Disease.
Regular health insurance may not cover Parkinson’s Disease or other critical illnesses. That is why we recommend that you buy a Critical Illness Insurance plan in addition to your regular health insurance.
Usually, the monetary compensation offered by an insurer for Parkinson’s Disease is equivalent to the sum assured value of the plan. The sum assured offered under a Critical Illness Insurance Plan may range from Rs. 5 to 10 lakhs depending upon the plan you choose. However, the premium is usually proportional to the sum assured amount. So, the higher the sum assured amount selected, the higher the premium payable may be and vice versa.
No, you cannot make multiple claims under a Critical Illness Health Insurance Plan. Once you raise a claim, you will be paid the full sum assured amount by your insurer. After that, the plan will usually be deactivated and you may not be able to make any more claims.
|Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on industry experience and several secondary sources on the internet; and is subject to changes. Please go through the applicable policy wordings for updated ACKO-centric content and before making any insurance-related decisions.
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