Do you ever wonder what will happen to your loved ones if one day you are severely ill or you are gone? This is something very important to consider though it is unpleasant to think of. Though you may have various good friends or reliable family members that you think will take care of your loved ones, you have to make sure they will be financially strong to cope when you are not here. No one knows how long he / she will be in a critical state. Imagine about those high treatment expenses and hospital costs.

These factors are to be taken into consideration and necessary precautions to be taken to financially protect your family when they need it. Critical illness insurance is the solution. It’s a lump sum of money, tax free, your loved ones will benefit when you are either seriously ill or not here. Critical illness refers to illnesses like cancer, heart attack, coronary artery bypass surgery, kidney failure, stroke, multiple sclerosis, severe injury and organ transplant.

Before taking critical illness insurance, make sure to check with the insurance company the conditions they will cover. This is because each critical illness insurance policy is different. Tumours, angina, skin cancer and HIV are some of the medical conditions that don’t apply to the critical illness policy. During hardships, it is essential to have a financial boost by considering critical illness insurance policies that will cover you. Individuals aged 17 to 70 can obtain critical illness insurance. Different policies are available. Some policies are for some specific period of time while others can be signed for life. Usually a critical illness claim can be made 3 months after the critical illness policy has been signed.

Before signing a critical illness policy, you will need to go through a medical examination. Once the insurance company is sure you are healthy, they will accept your contract too be covered under a critical illness policy. As procedures, they will also check your family medical history to determine what illnesses to be covered. If you are a smoker, you will pay higher premiums. Suicide, drug abuse and self inflicted injury are not covered under a critical illness insurance policy.

Cheap critical illness policies cover only a few illnesses. Expensive policies will probably cover everything from A to Z. It is wise to choose an insurance policy that covers quite some illnesses and some major serious conditions. The terms and conditions should be read so you fully understand the conditions that are covered and those not covered. If you have children, make sure they are covered as well as your family under the policy you bought. Make sure premiums are fixed and don’t increase after some years. As far as possible, search for critical illness insurance policies that offer guaranteed premiums. Obtain as much information from insurers to compare the different policies. This will help you chose the best critical illness plan that suits your needs.

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