Low Cost Health Insurance

Ever heard of dread disease policy? Or, coverage for critical illness? In case you haven’t, its time you did some serious research about it and get prepared.

Otherwise commonly termed as critical illness insurance, this is an insurance product where you contract with the insurance provider to typically make a lump sum payment in the event of a serious illness diagnosed. There are a list of diseases that are categorized under critical illness or dread disease:

Stroke, cancer, heart attack (primary conditions)
Heart transplant, a bypass surgery, angioplasty, kidney failure, paralysis, major organ transplantation (secondary conditions)
Many millionaires from the US have gone bankrupt while paying for these treatments.

The purpose of this blog is not to scare your guts out, but to keep you alert and prepared for the adverse. Critical illness insurance is one insurance product where the insurer pays a lump sum amount, on the patient party’s contracted sum, in case of critical illness.

The Harvard study has also found that many families having health insurance have actually found they are under-insured. Most of the time they pay a huge sum from their wallet as out-of-pocket costs. The average estimate evaluated for out-of-pocket for all families that went bankrupt was $17,749.

As most of us are linked through our employers for medical insurance coverage, any serious illness can lead to its loss. Those families with private coverage and had given it away from employer-based health insurance coverage, the out-of-pocket coverage for their families came to an average of $22,568.

Why need the benefits from critical illness insurance?