One of the most important questions that people ask is that: is critical illness insurance necessary? Because many people think that the hospital or the medical coverage policy can cover all the expenses that occur when the person is experiencing some illness due to any reasons, and this is not an uncommon topic as many people do not take critical illness insurance as they think that there is no presence of these things like repetitive illness occurring to a person.
The most common things that can happen when you do not take critical illness insurance is that your hospital policy might not even be able to pay for the money for which the bill has been made by the hospital as the amount required to treat that illness might be above what the medical expenses policy can cover as to treat such illness doctors might require high technology devices to figure out and eliminate the critical illness.
Many people think that when they have finally taken the shield plus policy, and it will help them to cope up with any expense that occurs when the person is suffering from a disease or any illness. It will require a lot of money for the disease to be recognized and then it will take some extra cost for the doctors to find the exact spot of the illness and then they will start treating on it. After the treatment, the doctor will recommend some medicine so you should have enough money to pay for the operation as well as for the medicines.
Maid insurance promo tells us that they will provide different type of insurance coverage, and also they will provide you with many coverages that are required for the maid or the person to work in Singapore as if you have ordered the services of the maid from another country then the provision of Singapore government states that you have to take an insurance policy in the name of the maid and they have also mentioned the things that are required in the policy so that the maid can start working without any interruption this will also maximize the savings of the person.
Critical illness is way beyond what we all imagine that there a surgery will be conducted and then the patient has to stay in the hospital for a few weeks or even months until they have successfully recovered their good health and after running some test they will now be able to leave, but this is definitely not the case.
The statement made by Life Insurance Association (LIA) says that this illness that occurs to the patient is not something that is common and happens to everyone as the name is given due to some reason and this illness or disease usually is transmitted genetically, and also it can be transmitted by other means.
But this type of illness shall not be taken for granted as this can lead to the death of the person suffering from this illness and also this will result in taking about a total time of 5 years for the patient to recover from the surgery and also the disease and then it will take the patient some extra time to come up with the rest of the world and the things which he or she has not attended due to this illness.
Another statement made by the LIA said that the critical illness insurance could also help with all the expenses that occur when the patient is finally starting to recover from the disease and also is trying to get together with all the things that they have missed while they were recovering at their home from this illness and this will also take some extra expenses to do so in order for the patient to feel good they might sometime visit old known places to them, and many times this illness causes memory loss which is a very big deal.
Why you should not skip critical illness insurance
Here is the list of reasons which tell that critical illness insurance is necessary to take:-
The odds of getting ill are high:-Most of the plans which are offered by the insurance company in the world is that they cover for all the expenses that occur when the patient is suffering from any of the 37 illness which are possible even if you are still young, healthy and fit.
There are many people in Singapore who are affected by the illness called cancer as they have a habit of drinking alcohol and also smoking cigarettes.
- There is no limit to Medisave or medisheild coverage:-
These are the two type of cover which most of the company will offer, and it covers all the expenses from diagnosing to the process of operating and trying to cure the patient of that particular illness.
Medisave can cover expenses up to $450 of daily expenses occurred at the hospital almost daily by the patient and around $300 expense in medicines and other stuff.
- Hospitalization insurance might not cover all expenses:-
A private hospital will eventually charge you more money on regard to diagnosing and then trying to do a surgery to free you from the illness as they are funded by their owner also called as a founder so they make more money and the policy will cover only the expenses till admitting you to the hospital.
- Savings will be drowned by critical illness:-
The savings that have been made by any of the patients will be drowned completely while you are paying for all the expenses that occur from the time of operating on the illness and also the entire process of diagnosing it.
- This insurance is affordable when you are young:-
You can start investing in this from the time when you are young, and you want to take this policy of you unsure of the illness that is going to attack you in the near and coming future.
I hope you get some valuable information from this article.