Critical Illness Health Insurance: Your second layer of protection after buying medical cover
Investors India|May 2021
Coronavirus pandemic and the spread of infection is in full swing across the nation. While vaccination, wearing of masks and maintaining social distancing remains the best defense against it, the probability of getting infected cannot be ruled out. While the medical infrastructure and the treatment of Covid-19 will have their role to play, what impact does the infection on our other body organs have over the medium to long term remains to be seen. As an individual, make sure you are adequately prepared to protect your savings and life amidst the pandemic.
Ashwini Kumar Sharma

In the work-from-home environment, even the danger from lifestyle diseases cannot be ruled out. Following a healthy-diet and wellness programme and an exercise regime could keep many of such unwanted ailments at bay. Sometimes hereditary but mostly with age the chance of having a life threatening life-style disease is financially a drain on the family. Of late, more and more people have started leading a healthy lifestyle backing it up with wellness programmes. This certainly helps but does not remove the risk of being hospitalised due to unforeseen events. The cost of hospitalisation, especially in urban locations, is increasing at a fast rate. According to a few studies done in the past, medical inflation in India is around 17 per cent annually, much above the general inflation level. The need for adequate health cover is increasingly becoming critical and consequently choosing the right health insurance plan has become very important. Let’s look at few important features that could help you take a more informed decision.

If you already hold a health plan (mediclaim or family floater), maybe its time to consider creating a second guard of defense through critical illness (CI) plan especially if approaching age 40. In health insurance getting a second layer of protection through critical illness plans pays in the long run.

Unlike a mediclaim plan the critical illness plans work slightly differently. It is a health insurance cover that provides financial assistance to the insured when he acquires a serious aliment such as cancer or has a stroke. Instead of reimbursing the actual amount of claim like an individual health plan or a family floater, a critical illness plan pays the entire sum insured. A CI cover provides a lump sum benefit which can pay for the costs for the care and treatment, recuperation expense and even could pay off your debt if taken. Regardless of your hospital expenses, the insurer pays the full sum insured. Further, no matter one holds several CI covers from different insurers, every such policy pays.

Continue reading your story on the app

Continue reading your story in the magazine

MORE STORIES FROM INVESTORS INDIAView All

Tips to create wealth over long term by investing in mutual fund SIPs

Mutual fund has emerged as a popular investment option for meeting the longterm goals. The popularity of mutual funds is increasing day by day because of simplicity, transparency, and as a cost-effective tool to generate a high return compared to other investment options.

3 mins read
Investors India
June 2021

Investing in debt mutual funds: Things to consider before you invest in them

The interest rate has been falling creating a precarious situation for the senior citizens and retirees. Fixed-income investments are providing low yields and thus retirees are finding it difficult to manage their regular income needs.

6 mins read
Investors India
June 2021

INSURANCE NEWS

01. Insurance sector has grown at a healthy 9.7% in 2020-21

2 mins read
Investors India
June 2021

Ask the Expert

Q Dear Sir, I am going to retire from my private company service after one year. I will not get any pension and my monthly expenses are expected to be around Rs. 50,000/-. How much retirement corpus I must accumulate to ensure that I am able to meet my expenses? -Ajay Sahni, Kanpur

3 mins read
Investors India
June 2021

MUTUAL FUND NEWS

01.Key officials in AMCs to get 20% salary in the form of MF units: SEBI

3 mins read
Investors India
June 2021

Health Insurance amid Covid-19: Know about plans, coverage, home care treatment and claim process

The Covid-19 pandemic in the country is having a big toll on the health and lives of the population. While it may too early to estimate the extent of damage to the economy, some of the impacts on personal finances may already be seen.

6 mins read
Investors India
June 2021

Should you bet on dividend yield funds?

One value-oriented mutual fund category that has made a comeback over the past year or so is dividend yield funds. The category has given investors an average return of 68.9 per cent over the past year.

5 mins read
Investors India
June 2021

Natural Ways To Prevent And Cure Diabetes

Diabetes is becoming an epidemic in India and everywhere. Diabetes is commonly known as the ‘high sugar’ problem. Currently, a fasting blood glucose (sugar) level of 126mg% or more is defined as diabetes. The blood glucose level is normally kept in range by a hormone called insulin, which is produced from the pancreas. Insulin controls blood glucose levels by allowing glucose to enter the cells so that it can be used as fuel by the body.

7 mins read
Investors India
June 2021

5 Mutual Fund Features To Help You Build A Robust Investment Portfolio

It has been a blockbuster performance of equity mutual funds in 2020-21. The return generated by most equity mutual fund schemes in the last 12-months has been nothing short of a spectacular performance.

6 mins read
Investors India
June 2021

How To Start Investing In Mutual Funds?

When you begin investing in mutual funds for the first time, you must take each step with a lot of care. Your initial experience must be pleasant so that you feel encouraged to keep on investing for your entire lifetime.

5 mins read
Investors India
June 2021
RELATED STORIES

Get to Know Mareya

We sat down with this 25-year food-industry veteran and the entrepreneur behind natural produce-cleaning product line eat cleaner to find out just how she does it all.

2 mins read
Clean Eating
Summer 2021

Don't Boost Your Immune System, Balance It!

Instead of “boosting” your immune function, which is not always a good thing, focus on fine-tuning your body for optimal immune health.

7 mins read
Better Nutrition
April 2021

The Hammock

A sign of God’s protection right when she needed it

3 mins read
Guideposts
April 2021

WOUNDS AND THE WOMB

JULIE PETERS explores how to heal a relationship with the sacred womb, a place of death, life, and possibilities.

8 mins read
Spirituality & Health
Mar/Apr 2021

Beyond Covid

More uses for new mRNA technology

3 mins read
Reason magazine
May 2021

HOW NATUROPATHIC DOCTORS TREAT TOXIN EXPOSURE

IF YOU’RE THINKING ABOUT STARTING A DETOX REGIMEN, IT PAYS TO CONSULT AN EXPERT FIRST.

4 mins read
Better Nutrition
March 2021

Does This DOG Know Whether You Have CANCER?

The canine nose is a marvel of nature. Science believes that a computerized model will save millions of lives.

10+ mins read
Reader's Digest US
March 2021

IN SEASON Chickpeas (GARBANZO BEANS)

Chickpeas appear in early recordings in Turkey well over 5000 years ago. India produces the most chickpeas worldwide but they are grown in more than 50 countries. An excellent source of carbohydrates, protein, fiber, B vitamins, and some minerals, they are a nutritious staple of many diets. The name chickpea comes from the Latin word cancer, referring to the plant family of legumes, Fabaceae. It is also known by its popular Spanish-derived name, the garbanzo bean. Kidney beans, black beans, lima beans, and peanuts are other familiar foods found in this legume family.

1 min read
Alternative Medicine
February 2021

8 SUPERSMART SUPERFOODS Your Kids Will Love

Having trouble getting your kids to eat healthily? When you package these superfood hits into your kid’s menu you can be sure you are giving them the nutrients they need and show them great nutrition is just around the corner!

2 mins read
Alternative Medicine
February 2021

Visiting the glory years of our parents

Obituaries – They’re really NOT for the dead

7 mins read
The Good Life
March 2021