Recovery from critical illness: Good news or bad news for your critical illness cover?
It will be good news for you! Your recovery, even after you are diagnosed with a critical illness, will not mean that the insurance company will not pay for the claim anymore.
As far as the insurance company is concerned, they will have to pay once you are diagnosed with a covered critical illness. However, you will also need to survive the critical illness for a specific number of days after it has been diagnosed before the insurance company will make the payment.
Your recovery from the critical illness is actually one of the strongest reasons why you need to get a critical insurance policy. You may feel that you are already adequately covered with your life insurance policy. But this may not be the case.
With today’s medical innovations and advancements, many are able to survive even some of the life-threatening attacks of conditions. Nowadays, the probability of surviving a major stroke or a major organ transplant is higher, as compared to the past.
When you survive a major attack on your health, that’s well and good. However, this means that your life insurance policy is not there to provide you with the funds you need. After all, it will only pay when you pass away. Of course, some life policies allow you to cash out and get the cash value of the policy. But, with a critical illness, you will want to ensure that your family has the money they need after you pass away.
This is where a critical illness cover will come in. When you receive the lump sum from your critical illness claim, you can use this to pay for your treatments to that you can recover from your critical illness. You can also use this to fund your daily needs and your monthly mortgage and loan payments.
Again, we reiterate that your recovery from illness is good news – and a critical illness policy will help much in ensuring this recovery.
Recommended useful information to read:
- Are you at risk? Critical Illnesses you may be susceptible to
- Things to consider before getting a critical illness insurance policy
- What you should know about Your Critical Illness Cover: The exclusions to your policy
- Save Up on Premiums: factors that affect Your Critical Illness Insurance premiums
- Dos and Don’ts When Making Critical Illness Insurance Claims
