Insurance

10 Reasons Why You Should Buy Critical Illness Insurance

Insurance and assurance are similar terms pointing towards the same meaning in this scenario. You might have heard of the word life insurance or life assurance policies. It is used to ensure that the issuing company will pay the decided money when your life is met with the conditions discussed in the paper. The amount paid is the benefit generated by the companies where the insurance holder continuously pays the premium. Premium is decided on which insurance you are getting and what is the time for the appropriate coverage.

These policies come when your life is endangered, but they also get active even when you meet with any critical illness. It is always recommended to go for the best critical illness insurance so that you can get yours at any time you need the money. There are lots of varieties in policies also, and the best among them coves the maximum diseases and gives you an overall protection.

There are some legal contracts between the insurance holders and insurer, which specify various terms and conditions and periods for which insurance holders should pay the premium. There are multiple ways in which dividends can be paid, that is, it can be paid monthly or every year or in the one go, but it is going to be a lump sum amount, so opting for financing system is most common these days.

There Are Several Conditions Where These Insurance Policies Fail:

  • The policies do not cover a murder tragedy. When the insurance holder is murdered, and the person nominated for the system or the nominee is involved in the murder process, or the case is going to the policy does not cover the scenario. It will be active only if the case is solved, and the nominee has no charges that are with a clean chit he or she can further process in insurance.
  • Suppose the death of the policyholder happens because of the consumption of alcohol or any narcotic drug. The insurance company does not consider the medicines which are not prescribed, so they do not cover the deaths in such cases, and they also discard critical illness in such cases. Which sometimes included the habit of smoking as well. Because smoking is the root cause of lung cancer, so in that scenario, after the death, if the company finds that the purpose was smoking, so the nominee gets discarded, and policy becomes void.
  • Natural disaster deaths are often not covered in these types of insurance policies. If the policyholder meets an accident b3cause of any natural calamity such as tsunami, earthquake, or hurricane, then the nominee will not be getting the policy’s claim.

HL assurance Singaporeis one of the best insurance companies in Singapore which offers you various types of insurance and the best critical illness insurances. There are lots of diseases that are covered under this insurance, such as the Alzheimer’s, multiple types of surgery, aplastic anemia, blindness, coma, deafness, cancer, which comes under life-threatening, kidney failure, stent insertion, liver transplants, paralysis, and many others. So, if you have any issues with mentioned diseases call HL today.

So There Are Ten Reasons Why To Opt For Critical Illness Insurance:

  1. The present is the best time to do anything and choosing insurance is always a good move because you never know what is coming tomorrow and how your life will be in several years or some days. One should not worry and hesitate to buy the insurance because it is for your own sake.
  2. There are several times when you are in a medical emergency, and there is an urgent need for cash. In this crucial time, it is always good to have your own money so that you need not depend on any other on money issues, and your treatment won’t meet a pause because of the delay in the hospital’s payments.
  3. The insurance company’s policies are they provide financial assistance when you are not yet diagnosed with a disease. Still, if you are already suffering from the disease, then the insurance does not cover that part. So it is always recommended to choose an insurance best suited and should opt when you are in your complete healthy state that is now.
  4. When everything is done, you will get the money back in a huge amount that will be tax-free. Many policies give you money in the installments, and the time is given that they will pay you back at some particular time.
  5. A stress-free environment is created when you are ill and needed money because the claiming process is straightforward, and the company does not force you to use the funds accordingly. It is your money, and you can use it any way you want, so it is constructive.
  6. They allow you to access to the best doctors across the globe. The process is once the claim is made, they put your problem in front of the panel of the best doctors for the review process, and then you will earn your application and also the medical assistance from them.
  7. The insurance covers not only your health aspects but also your family members such as wife and your kids.
  8. Buying insurance will help you get concession in tax-paying because you are already paying a huge amount to these companies. These are necessary for your life if there is a provision in the penal code itself.
  9. You will be getting additional perks with insurance like standard medical checks or your medical bills.
  10. If you are the alumni of the various firm, they offer you many discounts that will give you the chance to get the best deal.

To Sum It Up

It is always a good move to opt for critical illness insurance because life is very uncertain, and you should always prepare with the backup to not put a load on family members and friends.

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