In the current scenario, every individual is facing an inimitable kind of stress in his or her life, be it personal or professional or be it emotional, financial or physical. These stress factors are inescapable. However, what you can escape from is financial stress by pre-planning your finances and considering various risks that you might face in your future. No one can predict what you might have to undergo in your future and therefore you should at least be financially prepared so that you can lessen the financial and emotional burden. One of the risks that haunt everyone is that of getting ill, which affects the ability to work and also degrades the health of a person.
If any person gets critically ill there are a lot of medical complications that he or she may have to face due to which he or his family is likely to face emotional and physical breakdown if not planned for adequately. Serious illness affects the working ability of the individual which might lead to temporary or permanent loss of job, which can lead to a huge financial burden. Thus, how should one protect oneself financially if hit by any such illness? The answer is to get insured against any such eventuality. A life insurance policy comes into play on actual death. Nevertheless, the critical illness policy pays during instances that can bring 'financial death' to a person.
A critical illness can disrupt the life of a person as he might have to give up on his goals and dreams and the medical cost can wipe out all his savings. There is one answer to these problems - a critical illness insurance plan. Critical illness plans cover various serious illnesses such as cancer, paralysis, heart valve disease, stroke, renal failure, coronary artery disease, etc. The key features of a critical illness insurance policy include:
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