10 Reasons Why Critical Illness Insurance Is Necessary 

Finance

If you are really lucky, then you will never need ‘critical illness insurance.’ Almost everyone has health insurance, but it doesn’t cover every disease. Some critical illnesses include cancer, and heart attack need critical illness insurance? What is that? Critical Illnesses are more expensive to treat. You cannot cover the hospital charges for such life-threatening illnesses with meagre health insurance in Singapore. It is extremely easy to get critical illness insurance. But before that, let’s look at the top ten reasons on why you should get one:

  • Better doctors

When you are critically ill, you deserve nothing but the best. Simple health insurance cannot promise you that. You need access to the best doctors in your city to recover from such deadly diseases. Doctors, who have completed their M.D. and are specialised in their respective fields, will charge you more. You would want experienced doctors to treat you as dealing with critical illnesses can be difficult.

You can even afford to hire a bunch of doctors in case you want more than one opinion.

  • Ideal For Kids And Senior Citizens

Most of the time, health insurance does not cover extremely small children or senior citizens. These are the most vulnerable groups who are susceptible to critical illnesses. Children have a developing immunity system, whereas senior citizens have a weak immunity system. If they are denied proper treatment, they can get seriously affected and suffer from long-term damage. If you have critical illness insurance, you can help them out in such situations. Almost all companies cover about 5 major critical illnesses for children. In the case of senior citizens, over 25 critical illnesses are covered under critical illness insurances. Hence, it is a good idea to invest in them.

  • Amazing Cash-Backs

A lot of critical illness insurancein Singapore help you to get a lot of cash-backs. A huge portion of the various premiums that you have paid will be given back to you. However, you need to wait for a fixed amount of time before you get these cash-backs. In case you do not need to claim, you can ask for some amount of money back that you have paid a premium. You can do so while getting some amount of coverage along with it.

  • Purchasing It While Being Healthy

You need to purchase critical illness insurance while you are disease-free. Almost all companies have certain policies that have fixed requirements for purchasing critical illness insurance. One of these rules indicates that you cannot buy critical illness insurance when you have been diagnosed with one. Hence, it is better to purchase it now when you are fit and healthy. This helps you to secure your future and keep yourself safe in the future.

  • Not A Part Of Employers Plan

You might feel that employers will help you out in case you or your family members fall sick and suffer from critical illnesses. But that is not true. Almost all employers have no provision for critical illnesses. You will not be able to pay for the expenses if you depend on your employer’s plans. Moreover, if the plan does include the critical illness-related provision, it is not enough to cover the entire cost. Hence, it is a better idea to purchase critical illness insurance separately in Singapore.

  • Less Anxiety

Once you purchase critical illness insurance, it takes off a huge load from your chest. If you are prone to becoming anxious over every small detail, you need to purchase critical illness insurance when you are healthy. It helps you to curb your anxiety, which, in turn, helps you to maintain your mental health. A stable mental condition ensures good physical health. In case you are suffering from any critical illness, you do not have to worry about the money anymore. You can just focus your energy on your recovery.

  • Option To Buy It On Mortgage

In case you are low on cash, you can still get critical illness insurance. However, it does not cover all the diseases. Alternative critical illness insurance can cover mainly three illnesses – stroke, heart attack, and cancer. In case you want to buy something that is within your budget and yet, you want to make your future secure, this is the best option for you.

  • Amazing Benefits For Taxes

You can get amazing tax benefits if you purchase critical illness insurance for yourself or your family. Whenever you pay the insurance premium, a large amount of money will be deducted from your taxes. You will also be given some amount of tax reduction whenever you claim the insurance money.

  • Helps To Cover Expenses Abroad

In case your illness is too much to handle, you might have to go to a foreign land to get treatment. However, it can be expensive. Not only had the money of the treatment, but airplane tickets also cost a lot these days. But that shouldn’t stop you from getting the best treatment that is available. It gives you and your family a real chance to win against the disease.

  • A Huge Amount Of Money

In most families, there is only one sole earner. In case something happens to him or her, their family will need a huge amount of money to survive. Apart from medical treatment, these daily household items are sold at a higher rate. Hence, it is good to get critical illness insurance as it helps you pay for the treatment and daily household chores.

To Sum It Up

Now that you are aware of the benefits of critical illness insurance, what are you waiting for? Now, it’s time to call up the best insurance agency and get the HLAS insurance in Singapore. It helps you to live a tension free and relaxed lifestyle. Hurry up! The more time you waste, the more you are putting yourself and your family at risk. Hence, stop thinking and start acting as soon as possible!

 

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