Main benefits of Critical Illness Insurance
Here are the main benefits of buying Critical Illness Insurance.
Critical illness cover is the most reliable method of dealing with medical emergencies.
It prevents you from burning out your hard-earned savings.
It helps you pay for medical and non-medical expenses, which means it provides financial security to your dependents as well.
The outstanding payments like mortgages, home loans, car loans can also be taken care of through the payout.
Health emergencies come with a tremendous emotional burden which can be tackled by ensuring financial stability. Therefore, Critical Illness Insurance is one of the advisable ways to tackle such crises.
Since the payout is a lump sum amount, it helps to manage overall costs better.
It caters to various critical illnesses, and all associated expenses can be taken care of.
Diagnosis of an illness is enough for the policyholder to avail of benefits. Inpatient treatment is not needed.