Kathmandu. The Critical Care Facility Supplementary Agreement covers the treatment expenses of the insured against life-threatening critical illnesses such as cancer, heart attack, kidney failure, stroke, etc.
This critical illness treatment facility provides a lump sum coverage amount to the insured at the first diagnosis of listed critical illness. Which can be used to bear exorbitant treatment expenses. All critical care facilities have a 90-day waiting period.
Feature of Critical Illness Treatment Facility
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Coverage for Critical Illnesses: This facility provides treatment expenses for 22 critical illnesses such as cancer, kidney failure, heart disease, brain surgery, stroke, etc. The number of diseases carried may vary between insurers.
Lump sum payment: The insurer provides a lump sum payment for the treatment of critical illnesses as determined under the facility at the first diagnosis of the disease. Such amount is equal to the insured or a maximum of Rs 50 lakh for the treatment expenses.
Easy Claim Processing: TAG_CLOSE_span_69 Unlike health insurance, the claim process is not cumbersome. Critical illness insurance claims can be easily processed based on the required medical documents and diagnostic report(s).
The risk of severe illness is usually borne after the 90-day waiting period ends.
Income Substitution: If patients lose their job, a portion of the lump sum can be used as income substitution.
Survival: Most critical illness plans come with a survival period of up to 30 days, after which the insured pays the claim.
Coverage beyond hospitalization
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Regular mediclaim insurance plans cover critical illnesses only up to the extent of hospitalization expenses. At the time of hospitalization, they are reimbursed for the cost of treatment of serious illness. The critical illness facility provides a lump sum for the diagnosis of incurable critical illnesses that can be used to pay for healthcare expenses with or without hospitalization.
Secures Financial Future
Patients diagnosed with serious illnesses may not be able to earn as much as they used to because of the physical limitations of going to work every day. On top of that, there will be a heavy burden of medical expenses incurred in treating the disease. Critical illness insurance is a wise way to secure the future of the entire family from critical illnesses. This is because the lump sum claim amount cannot be used only to pay for medical expenses and daily household expenses.
Rising medical inflation
Treatment is getting better day by day as hospitals spend heavily on high-efficiency equipment. This increases the cost of medical treatment, especially at the time of hospitalization, along with medical inflation.
For example, women with breast cancer need Herceptin. The price of which can range from Rs 40,000 to Rs 50,000 per bottle. The patient needs at least 16 cc for treatment.
Considering these high treatment expenses, choosing a good critical illness insurance plan seems like a viable option.
Time required
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Nowadays, the need for a serious disease policy is greater than ever. The sedentary lifestyle of the 21st century is giving rise to all kinds of diseases. Most of them are serious in nature. As the number of people suffering from such diseases increases, the age of serious diseases is decreasing continuously. They are more likely to develop serious illness than their parents.
By ensuring that critical illnesses are treated at an early age, young adults can protect themselves from the economic impact of these diseases by providing them with the best treatment available.
Who should buy critical illness treatment facility?
Everyone can benefit from the Critical Illness Treatment Facility (Rider). However, the following people should buy critical illness insurance:
people with a history of serious illness in the family
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Most serious diseases are hereditary in nature. That is, they are transmitted to the family. If there is a family history, then the risk of serious illness is high. Therefore, people with a history of critical illness in their family should definitely choose a critical illness insurance policy.
Main Earner
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The role and importance of the main breadwinner of the family is extremely important. If anything happens to them, it will have a serious impact on the financial future of the family. The family may also have to deal with unpleasant financial situations. This is why earning family members, especially parents, must include health insurance for their parents, as well as critical illness treatment facilities, if they have a medical history.
High-pressure people
Serious illnesses are highly associated with high-pressure work. Various studies have shown that people working in high-pressure work environments have an increased risk of serious illness due to high stress levels. Therefore, employees working high-pressure jobs must choose a serious disease policy.
Persons over 40 years of age
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For senior citizens, choosing critical care facilities along with regular health insurance is a top priority. However, with today’s sedentary lifestyle, people over the age of 40 are more susceptible to serious diseases. Therefore, it is advisable to buy critical illness insurance in your 30s, if not sooner. At this age, people are likely to be in a comfortable financial position and can easily pay insurance premiums.
