Picture this: You are at the peak of your career, you have just moved into your dream home and you have a beautiful, thriving family. Life seems to be going as planned but one day you wake up feeling extremely ill. You have yourself checked by your physician and his news turns your world upside down. You have been diagnosed with a serious illness. You are now among the 32% of men and 25% of women in the United Kingdom that are expected to be diagnosed with a critical illness by the time they reach the age of 40 to 70 years old.
Medications and treatments start to drain you and your family financially. All of your careful savings can be used up by this unexpected health issue. You might also need to make difficult decisions like selling your assets just to raise enough funds to recover from your disease as well as to sustain your family’s well being.
Before you know it, your disease has turned a supposedly bright future into a bleak one. Would you ever want this sort of tragedy to happen to you and your loved ones? Critical illness can strike anyone, even the healthiest persons you know. The good news is, you can do something to prepare for medical emergencies like this and that is by purchasing a life and critical illness insurance.
A critical illness policy provides you with a solution to cover major medical emergencies. These solutions are the following:
- Lump sum cash benefit upon diagnosis
- Should you be diagnosed with any of the covered diseases, you will receive a lump sum benefit that you can use to pay for medical procedures, professional fees and medications.
- Financial protection
- A perfect critical illness insurance policy can even cover you for more costs than any of the remaining mortgage balance that you may have. With this type of protection, you would not have to spend “out of the pocket” or worse, even borrow money from family and friends.
- Peace of mind
If there is one thing that money cannot pay for, it is the peace of mind that you will have knowing that whenever critical illness strikes you, you are financially prepared for it. It definitely pays to prepare early for the unexpected and a solid critical illness and life insurance policy is your number one solution.
The first thing that we need to do is to research on the best insurance provider in your area of need. Next, we ask for a quote. You will need to provide certain information like age, gender, employment status, medical conditions including existing ones and risk factors such as smoking and alcohol consumption. After a thorough assessment, you will be presented with a proposal that will meet your needs and will be suited to your budget.
The moment your physician confirms your condition you can start processing your claim. You simply need to contact us (or if you prefer, your insurance provider by calling them or by processing your claim online). Once the confirmation is made, your claim will be delivered to you in as fast as one month.
There are two ways in which an insurance provider can reject a claim:
First is if your disease is not covered by the plan that you purchased. No matter how sick you get, if your disease is not covered, you cannot make a claim. This is why you need to check all the terms and conditions of the policy first before you sign up.
Second, if you were not totally honest (deliberately or innocently) with your insurance provider and if they find that you have already been diagnosed with a serious disease prior to purchasing the plan, you may not be able to make a claim. This is classed as non-disclosure. It is important to be honest and straightforward with your insurance provider especially during the time of assessment so that you will not have problems when it comes to making claims.