What if you are being rushed to the hospital due to a minor heart attack. You are advised by your doctor to take a leave of absence from work to recuperate and prescribe you some maintenance medications. All these expenses can be covered by the right plan for them.
An early stage critical illness insurance plan helps meet the treatment costs or to make up lost income while you are recovering.
Do you think an early-stage critical illness plan is considered for your current lifestyle and health history?
Learning about early-stage critical illness plan
In case you are diagnosed with a critical illness covered by your early-stage CI plan, a cash benefit is expected to be received. You will use it to pay for the living expenses or treatment. There is a fixed amount of benefit given to you called a lump sum. You receive the benefit when the diagnosed CI s is covered.
Examples of critical illnesses covered by insurance plans are:
- heart attack
- stroke
- cancer
These are commonly the top causes of death. Some critical illness plans provide coverage for illnesses diagnosed at a later stage. You can only get the cash benefit when diagnosed with a serious health condition.
What does an early critical illness plan cover?
An early-stage critical illness plan provides a cash benefit when diagnosed at an early stage of a major illness. The early screenings today are more accessible and advanced making this insurance useful. It covers medical fees so you can focus on recovering without worrying about the expenses.
You may look for an early-stage critical illness plan that covers a year’s worth of income. Early-stage critical illness plan offers a multitude of benefits, such as:
- Child critical illness benefit
- Death benefit
- Long life bonus
- Male/ Female cancer benefit
- Maturity benefit
- Recovery benefit
Do you need early-stage CI insurance?
Getting a lump sum benefit on a disease’s early stages keeps you worryless. Similar to the other insurance plans, early-stage CI coverage is only for selected persons.
Number of dependents
You can pay for your children’s education or support your retired parents while recovering from your illness. There are also loyalty bonuses you can receive aside from the early-stage critical benefit. These are dividends that you can withdraw anytime or be left to get until maturity.
Budget considerations
Early-stage illnesses may require a set of treatments, such as premiums for early-stage critical illness becoming high compared to regular early-stage CI plans. Consider the costs and ensure you can afford the premium over a long period.
What should you look for when purchasing an early-stage CI plan?
- Number of payouts
- Critical Illness Benefit
- Covered conditions
- Waiver of premium because of early-stage critical illness
Figuring out the right critical insurance coverage is a tough process and it is okay if you are undecided about getting one. Just give yourself enough time to decide before deciding on which critical illness insurance coverage to purchase. So, you can have time to check on the benefits it offers to you, if your family members can also get covered.