What is the actual cost of treating critical illnesses such as cancer, heart disease, stroke, and kidney failure? Depending on the illness, how severe the condition is, and the hospital, but probably very high, it can even make you bankrupt. Also, critical illness can reduce productivity so that income will be reduced yet lost.
Critical illness becomes a life-changing event. When a person gets a verdict whether cancer, heart failure, stroke, kidney failure, or severe chronic illness, then his life also changes. All you have to do is set aside a small part of your income to have health insurance and critical illness insurance. Health insurance to pay hospital bills, and critical illness insurance to protect your assets and income. If you can, you can grab both of them. If your budget is limited, then you can take just one.
What is the meaning of critical illness?
Critical illness does not come suddenly, but it starts with an unhealthy lifestyle accumulation. In today’s world, many causes of sickness. Stress in work, air pollution, smoking, mostly sitting and lack of exercise, various foods containing chemicals, etc. Blood sugar, uric acid, cholesterol, and fat accumulation, play a significant role to trigger critical illness. All of that accumulates gradually without you realize.
Critical illness is a kind of disease that comes slowly, and treatment will take a long time, and should be followed by lifestyle changes with strict discipline. If this cannot heal, then it can be a fatal condition.
Which insurance should I choose?
If you suffer from regular pain, health insurance may be enough. But if you suffer from severe illness, health insurance will not be enough, because the cost of critical illness is very high. Health insurance can help you to pay for all medical needs during the hospital. But for any expenses incurred outside the hospital or any non-hospital related purposes, health insurance is not liable anymore.
The problem is that we never know and we can not choose what illness will befall us, mild illness or severe illness. So, in addition to health insurance, then you need critical illness insurance to protect the assets and replace the lost income.
Why do I need critical illness insurance?
Among the various insurance products, many people misunderstand about critical illness insurance. Some people find it unimportant, but some consider it the essential insurance product.
Often critical illness insurance is an additional insurance on life insurance products. People who object to critical illness insurance say cynically. If a critical illness attacks you and you die, the cost is not too much, and if you have life insurance, then the insurance money will come out. But what if the critical illness lasts a long time?
For example, patients with kidney failure need dialysis every week for a lifetime and can not work hard. Patients with stroke cannot work anymore and need income for daily living. Cancer patients require daily supplements and maintenance costs that make you lose a lot of money.
At the worst of these conditions, what insurance can help you? In all the pros and cons of this product, here are some things you need to understand about critical illness insurance:
- Critical illness insurance is not the first aid. When you need hospital fees, then you still use your own money or health insurance. So you should always have emergency funds and health insurance.
- Critical illness insurance is a further aid to the cost of treating critical illnesses. When your money and health insurance limit are not enough, then you will need it.
- Critical illness insurance is a relief for the cost of recovery of critical illness, which is usually outpatient and health insurance does not cover it.
- Critical illness insurance also replaces your income when your illness results in a loss of productivity that makes you unable to work anymore. It is the essential value in critical illness insurance that can not be replaced by health insurance as good as anything.
- Critical illness insurance provides you with cash in the amount of money you take or as per the terms of the products you bought.
You can prevent critical illness from attacking you. But whatever your business, the chances of success will not be 100%. Even if you adopt a healthy lifestyle, your environment will not be supportive. Every day you eat a diverse menu with different ingredients, hang out with friends who smoke, breathe in air pollution, get stressed on the trip, exposed to ultraviolet rays from the sun, and so on. All that accumulates in your body, and each contributes a lousy role and lowers your health level. In the end, critical illness will come without you think.
After reading this article, what do you think, whether critical illness insurance is important or not? So, prepare yourself for the worst conditions in life.