What is Critical Illness Insurance?
Let’s take a look at an illness that is far more common than you would think. It will affect you, your family, and those around you. Critical Illness Insurance is the insurance that is exclusively designed to cover the expenses of essential 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 severe 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 illnesses, including breast cancer, can protect you from unanticipated financial challenges you and your family might face down the road. Acute diseases are getting more common than ever, and there is always uncertainty about what lies in the future.
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How common is breast cancer in the UAE?
Breast cancer is one of the most common cancers among women in Dubai. According to a 2016 report, breast cancer accounted for almost 60% of all cancer cases seen at Dubai Hospital. You’ll never be too prepared for such major health bumps, and it’s always good to know what you’re getting into with health insurance plans. Here’s some info on critical illness insurance, so you can make an informed decision about what plan is best for you
Regular Health Insurance, Usually, Doesn’t Cover Critical Illnesses.
So you think your regular health insurance will cover everything, do you? Be warned that it doesn’t provide comprehensive coverage for critical illness and breast cancer. Plus, these policies are indemnity plans that reimburse only hospitalization expenses.
Ease of Paying Non-Hospitalization Costs with Critical illness Plan
If you have breast cancer, you might not be able to work for the duration of your treatment and recovery. This could leave you financially vulnerable with mounting medical bills and no income.
A Critical Illness Insurance Plan covers a lot more than 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, if you have a regular health insurance policy, you will need to pay for all these expenses from your pocket.
You must read the fine print of any policy you sign up for. It’s important to talk with your insurance broker before purchasing a critical illness insurance plan so that you are informed about how claims will be paid out and what is covered.
A critical illness insurance policy is more beneficial than a regular health insurance plan in the event of an acute illness or breast cancer.