World Heart Day: Get protection with a critical illness cover

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According to the World Health Organization (WHO), cardiovascular deaths (CVD) contribute to an estimated 32% of the fatalities worldwide. While cardiovascular conditions used to afflict only the elderly in the past, there has been an increasing trend of the younger generation also becoming a victim to this condition of late.

While the stresses and strains of modern lifestyle are undoubtedly a contributing factor to the increasing incidence of heart related ailments and cannot be avoided in the present-day scenario, there is much that can be done to protect our heart.

This World Heart Day, you should take a moment to pause and contemplate on how to take good care of yourself and your heart. On a day that has been earmarked to emphasise the importance of this vital organ, resolve to protect it.

Despite undertaking multiple measures to take better care of your heart and health, uncertainties may hit you. Hence, it is important to be backed by a strong insurance plan. Considering the high cost of treatment for Cardio Vascular Diseases, regular medical indemnity plans may not be sufficient. During such medical emergencies, you have more than just hospitalization expenses to worry about.

Bear in mind that critical illnesses require prolonged treatment even after you are discharged from hospital and could include expenses like medicines and travel costs if you are moving to another city for treatment and many more such expenditures.

They could also impact your earnings if you are required to be away from your place of work of business for a length of time. Being adequately insured will ensure that in case of health emergencies, you have access to high quality health care treatments.

One of the most cost-effective ways to ensure your peace of mind is to have a critical illness policy or a critical illness rider with your existing Health Insurance policy. This will ensure that any unexpected medical emergency does not drain you financially.

What is a critical illness cover?

A critical Illness cover provides a lump sum benefit on the first diagnosis of a critical illness. Such an amount can help you pay for the cost of care and treatment towards specific illnesses and recuperation expenses.

Critical illness covers provided by general insurers come in two ways — Standalone policy or a rider to your base health insurance policy.

Here are some things to keep in mind while buying a critical illness cover:

Brand reputation 

First and foremost, look for an insurance company that is known for its strong customer service & claim settlement capabilities. Insurance purchase is largely based on trust and hence it is imperative to opt for a trusted insurance company.

Sum Insured 

Check your options for the sum insured amount and opt for an adequate cover based on your family history, life stage and financial state. The sum insured selected by you should cater to the possibility of a prolonged period where your earning capacity may be affected.

Check for critical Illness rider with your health insurance policy as an alternative – If you are buying health insurance, explore the options to add critical illness as a rider.

Individual plan or family floater – You can buy critical illness cover as an individual plan or as a family floater, depending on your family members’ financial requirements and medical history.

Keep in mind that a standalone critical illness policy can be ported to other insurers but critical illness rider alone cannot be ported.

This World Heart Day, purchase a critical illness policy to protect your heart to stay healthy aur hearty dono!

(The author is Head – Product Development, SBI General Insurance. Views expressed are personal)