Benefits of Purchasing Critical Illness Insurance Early in Life
19 April, 2023
0 Shares
168 Reads
Share
When it comes to health insurance; there are many options available to people such as individual, accident insurance and critical illness insurance. One of the most important types of health insurance is critical illness insurance. This insurance covers medical expenses associated with a severe illness or condition. It can be an invaluable tool to have in an unexpected medical emergency.
Early in life is the best time to purchase health insurance with critical illness rider. The earlier you buy the policy, the more affordable it will be. As you age, the premiums for critical illness insurance will increase. It is because the probability of you becoming ill increases as you get older. Additionally, the longer you have a term plan with critical illness, the more value you will get from it.
Critical illness insurance for senior citizens is an important form of financial protection for those at higher risk of suffering from a severe illness due to age. It provides a lump sum payment to cover the costs of medical care and other expenses that may arise due to the illness. This type of insurance is essential for seniors with limited savings or lack the financial resources to pay for the necessary medical care.
This blog will discuss the benefits of having a critical illness policy in India and how to find critical illness insurance for senior citizens.
Benefits of Critical Illness Policy in India
There are many benefits to purchasing critical illness insurance early in life. Knowing that you have coverage in the event of an illness or emergency can be a great comfort. It can also help you to avoid financial hardship if you become ill. Critical illness insurance can cover medical expenses not covered by your regular health insurance. A term plan with critical illness can provide you with the following benefits:
- Financial protection: Critical illness insurance provides a lump sum upon diagnosis of a covered illness. You can use it to cover living expenses such as rent, mortgage payments, medical bills, and other costs that may arise due to the illness.
- Comprehensive Coverage: Critical illness policies cover many illnesses, unlike traditional health insurance. It means the policyholder is covered for a broader range of illnesses than traditional health insurance policies.
- Guaranteed Renewal: A term plan with critical illness offers guaranteed renewability, meaning that the policy can be renewed even if the insured’s health deteriorates.
- Tax Benefits: Premiums paid towards critical illness policies are eligible for tax deductions under Income Tax Act Section 80D.
- No Claim Bonuses: Most critical illness policies offer no claim bonuses, which can increase the available coverage upon diagnosis of a covered illness.
Choosing Critical Illness Insurance for Senior Citizens
Critical illness insurance, on the other hand, typically provides a lump sum payment if the policyholder is diagnosed with a specific critical illness.
To find the best-suited plan, follow these steps:
- Determine your Coverage Needs: Determine how much coverage you need by considering the cost of medical treatments, out-of-pocket expenses, and any long-term care you may need.
- Compare Rates and Coverage: Compare rates and coverage from several insurers to find the best deal. Make sure the policy covers all the illnesses you want to be covered for.
- Read the Fine Print: Read the policy details carefully before signing on the dotted line. Pay special attention to the exclusions, inclusions, and other fine print.
- Ask Questions: If you have any queries, don’t be afraid to ask them. Make sure you understand everything before making a decision.
- Consider Riders: You can add additional benefits to your policy. Depending on your needs, these may be worth considering.
A critical illness premium calculator is an online tool that helps you compare the cost of health insurance vs critical illness insurance. This tool can help you decide if a health insurance plan with a critical illness rider is the right for you. With a critical illness policy in India, you can receive financial assistance for medical expenses associated with certain illnesses like cancer, heart attack, and stroke.
There are many benefits to purchasing critical illness insurance early in life. It can provide peace of mind, help you avoid financial hardship, and give you access to better medical care. It can also be more affordable to purchase a policy when younger. If you want to protect your family in a medical emergency, consider purchasing a Niva Bupa critical illness insurance plan. This Niva Bupa critical illness insurance will provide you with the best care for medical emergencies.
Secure your Health with comprehensive insurance plans from Niva Bupa
You may also like
Health Insurance - Health Insurance | Medical Insurance | Best Health Insurance Plans | Health Insurance Plans | Health Insurance Policy | Best Health Insurance Plans | Best Family Health Insurance | Best Mediclaim Policy | Best Health Insurance In India | Best Medical Insurance In India | Best Health Insurance Plans In India | Best Health Insurance Policy In India | Mediclaim | Best Health Insurance For Senior Citizens In India | Best Health Insurance | Health Insurance With Opd Cover | Mediclaim Insurance | Medical Insurance Plans | Best Health Insurance Company in India | Critical Illness Insurance | Personal Accident Insurance | Mediclaim Policy | Individual Health Insurance | Pregnancy Insurance | Maternity Insurance | Best Family Health Insurance plans in India | Best Health Insurance company | Family Health Insurance | Best Health Insurance plans for Senior Citizens | Mediclaim Policy for Family
Health Insurance Schemes - Chief Ministers Comprehensive Health Insurance Scheme | Employee State Insurance Scheme | Swasthya Sathi Scheme | Pradhan Mantri Matru Vandana Yojna | Government Health Insurance Scheme | Dr. YSR Aarogyasri Scheme | Pradhan Mantri Suraksha Bima Yojna | Health Insurance Deductible | West Bengal Hcovealth Scheme | Third Party Administrator | Rashtriya Swasthya Bima Yojana | In Patient Vs Out Patient Hospitalization | Mukhyamantri Chiranjeevi Yojna | Arogya Sanjeevani Health Insurance | Copay Health Insurance | Cashless Health Insurance Scheme | Mukhyamantri Amrutum Yojna
Travel Insurance - Travel Insurance | International Travel Insurance | Student Travel Insurance | Travel Insurance USA | Travel Insurance Canada | Travel Insurance Thailand | Travel Insurance Germany | Travel Insurance Dubai | Travel Insurance Bali | Travel Insurance Australia | Travel Insurance Schengen | Travel Insurance Singapore | Travel Insurance UK | Travel Insurance Vietnam | Malaysia Tourist Places | Thailand Visa for Indians | Canada Visa for Indians | Bali Visa for Indians | ECR and Non ECR Passport | Qatar Visa Status | USA Visa | Vietnam Visa | USA H1B Work Visa
Become an agent - Insurance Agent | Insurance Advisor | Licensed Insurance Agent | Health Insurance Consultant | POSP Insurance Agent
Group Health Insurance - Startup Health Insurance | Commercial Health Insurance | Corporate insurance vs personal insurance | Group Personal Accident Insurance
Top Hospitals - Best Hospitals in Chennai | Top Hospitals in Delhi | Best Hospitals in Gurgaon | Best Hospitals in India | Top 10 Hospitals in India | Best Hospitals in Hyderabad | Best Hospitals in Kolkata | Best cancer hospitals in Bangalore | Best cancer hospitals in Hyderabad | Best cancer hospitals in Mumbai | Best cancer hospitals in India | Top 10 cancer hospitals in India | Top 10 cancer hospital in Delhi | Multi Speciality Hospitals in Mumbai | Multi Speciality Hospitals in Chennai | Multi Speciality Hospitals in Hyderabad | Super Speciality Hospitals in Delhi | Best Liver Hospitals in Delhi | Best Liver Hospitals in India | Best Kidney Hospitals in India | Best Heart hospitals in Bangalore | Best Heart hospitals in India | Best Heart hospitals in Kolkata | Best Heart hospitals in Delhi
Others - Top Up Health Insurance Policy | Corporate Health Insurance | Health Card | Section 80d of Income Tax Act | Ayushman Bharat | Health Insurance Portability | GoActive Family Floater Plan | Health Companion Family Floater Plan | Health Premia Family Floater Plan | Health Pulse Family Floater Plan | Health Recharge Family Floater Plan | Heartbeat Family Floater Plan | Money Saver Family Floater Plan | Saral Suraksha Bima Family Floater Plan | Senior Citizen Family Floater Plan | Super Saver Family Floater Plan | Corona Kavach Family Floater Plan | Hospital Cash Insurance | Cashless Health Insurance | Health Companion Price revision | Heartbeat Price revision | ReAssure Price revision
Health & Wellness - PCOD | PCOD Problems Symptoms | Stomach Infection | Stomach Infection symptoms | Home remedies for Stomach Infection | Hypertension definition | How to Control Sugar | Typhoid in Hindi | Blood sugar symptoms | Typhoid symptoms in hindi | Low sugar symptoms | ब्लड शुगर के लक्षण | pregnancy me kya kare | Open heart surgery cost | Blood infection symptoms in hindi | BP badhne ke karan | Khansi ka gharelu upay | Omicron | Coronavirus Health Insurance | Covid XE Variant | Norovirus
www.nivabupa.com
+91 11 41743397
1860-500-8888
3rd Floor, Capital Cyberscape, Sector 59, Gurgaon
- Insurance is a subject matter of solicitation. Niva Bupa Health Insurance Company Limited (formerly known as Max Bupa Health Insurance Company Limited) (IRDAI Registration Number 145, Category:Health), 'Bupa' and 'HEARTBEAT' logo are registered trademarks of their respective owners and are being used by Niva Bupa Health Insurance Company Limited (formerly known as Max Bupa Health Insurance Company Limited) under license. CIN: U66000DL2008PLC182918
- 1 Niva Bupa processes pre-authorisation requests within 30 minutes for all active policies, subject to receiving all documents and information(s) up to Niva Bupa’s satisfaction. The above commitment does not include pre-authorisation settlement at the time of discharge or system outage.
- 2 Since Inception refers to claim data from 2010 till December 2023.
- 3 ReAssure 2.0 Premium: The premium is including taxes and for Bronze Variant, for a 25-year-old individual living in Delhi.
- 4 Aspire Premium: The premium is including taxes and for Gold+ Variant, for a 25-year-old individual living in Delhi.
- 5 Senior First Premium: The premium is including taxes and for Gold Variant, for a 65-year-old individual living in Delhi.
- 6 Health Premia Premium: The premium is including taxes and for Silver Variant, for a 25-year-old individual living in Delhi.
- 7 SmartHealth + Disease Management Premium: The premium is including taxes and for Disease Management Gold Variant rider when bought with ReAssure 2.0 Bronze variant with Base Sum Insured of 5 lacs, for a 25-year-old individual living in Delhi.
- Beware of spurious / fraud phone calls! Do not share your confidential information like Debit / credit card number, Internet Banking User ID/Password, Pin, CVV, OTP, etc. with anyone. Avoid clicking on attachments / payment link received in mails / message from unknown sources. IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment or premium. Public receiving such phone calls are requested to lodge a police complaint. Do not respond to unsolicited and attractive offers received through unidentified calls, emails, SMSs, and other social media platforms. Beware of misleading telephone calls from people posing as Niva Bupa officials, agents, IRDAI Officials, Officials from ECI (Office of the Executive Council of Insurers) etc. and offering alluring benefits or sharing false information on your policy or on Niva Bupa. Niva Bupa shall not be responsible for any loss or damages whatsoever for any acts or omissions arising out of such spurious calls, and all customers are advised to contact our customer care at 1860-500-8888 and verify any representations or promises made by any such spurious callers before acting upon the same.