What is Critical Illness Insurance?
Critical Illness Insurance is the insurance that is exclusively designed to cover the expenses of critical ailments, such as cancer, heart attack, and multiple sclerosis. Should any such thing happen to you, not having prepared for it will affect the quality of the treatment due to insufficient funds available. Besides, it will also take a toll on your loved ones’ lives due to drastic financial conditions they will have to go through to cover the amount of your treatment and other expenses.
At such times, having insurance for critical illness including breast cancer can protect you from unanticipated financial challenges you and your family might face down the road. Critical illnesses are now getting more common than ever, and there is always uncertainty about what lies in the future.
How common is breast cancer in the UAE?
In the UAE, breast cancer is one of the most common cancer types. According to a 2016 report, breast cancer accounted for almost 60% of all cancer cases seen at Dubai Hospital. This figure creates a clear picture of how common breast cancer has become among women in Dubai. Thus, it is always better to be prepared to keep such major health bumps from destroying your financial stability and peace of mind.
Here is what you should know about a regular health insurance plan and critical illness plan to make informed decisions:
Regular Health Insurance, Usually, Doesn’t Cover Critical Illnesses.
Don’t live with the illusion that your regular health insurance will cover health expenses for everything. It doesn’t provide comprehensive coverage for critical illness and breast cancer. Plus, such policies are indemnity plans that reimburse only hospitalization expenses.
Ease of Paying Non-Hospitalization Costs with Critical illness Plan
When you are suffering from breast cancer, you also need to pay the expenses that arise during the treatment and after the treatment of breast cancer. Plus, you might not be earning for the period you are receiving the treatment and while you are recovering from it.
A Critical Illness Insurance Plan doesn’t restrict you to pay only medical bills. It gives you the freedom to spend the money also on expenses related to personal comfort, prescribed diets during chemotherapy sessions, and the cost of commuting. However, in the case of a regular health insurance policy, you will need to pay for all these expenses from your pocket.
Always Read the Fine Print of the Policy to clearly understand the policy’s terms and conditions. Discuss with your insurance broker which critical illnesses are covered by your and how claims will be paid out so that you can choose a policy that is best for you.
When it comes to critical illness and breast cancer, a critical illness insurance policy definitely provides more benefits than a regular health insurance plan.
New Age Insurance Broker LLC is a Dubai based insurance broker with several years of experience and a team of competent insurance consultants. We can help you find the critical illness policy that best suits to protect you and your family from the grave consequences of critical illnesses. Contact us to know more about critical illness and regular health insurance plans in detail.