A pre-existing medical condition should not be a deterrent for buying your family health insurance and securing their financial future. However, proper disclosure and some precautions ensure that in case if any unfortunate event, you have a smooth and hassle free experience.
A health insurance policy is a critical piece in the overall puzzle of a family’s personal finances. A claim free year does not mean that the money goes down the drain. These covers should be treated as pure risk covers where the return is peace of mind of having secured family’s financial position.
A terminal illness is a rapidly advancing and incurable medical condition. When diagnosed with a terminal illness, there is no option but to resort to palliative care because the victim has a lowered life expectancy.
Health and critical illness are separate categories and each has its own place in a consumer’s insurance requirement. Here’s a simple guide to knowing how to choose between the two, or decide if you need both.
It is important to have sufficient health insurance cover in order to meet medical emergencies. It is equally important to understand the provisions of any health insurance product that you may be holding, to avoid unpleasant surprises at the time of making a claim.