BounceBack from a critical illness!

 “Cancer does not have a face until it is yours or someone you know.”  – Anthony Del Monte

I came across this quote somewhere on the net, and the truth in it struck me hard. Last year, two people whom I knew personally were diagnosed with cancer. Of them one person has recovered fully, but we lost the other person.

A critical illness impacts not just the patient but the entire family. The entire family undergoes an emotional setback when any member of the family suffers from a critical illness. What hits alongside with the emotional pain is the financial burden to get the critically ill member the required medical treatment which is best for him/her. And God Forbid if one is unfortunate and does not have sufficient funds they are forced to wait for the next stage of the illness or lend money from their friends and relatives.


Cancer quote

Insurance to cover such unforeseen expenses due to critical illness becomes a must for every earning individual.

This article is all about Critical Illness insurance cover. We all know the increase in the number of critical illness cases. Below are few facts:

  • Heart disease is the number 1 killer in India followed by Cancer.
  • 1 in every 10 adults suffer from Chronic Kidney Disease.
  • Lung Disease is constantly increasing in India.

The term critical for an illness means if not treated timely it could lead to death and the other critical factor associated with it is that the treatment for it is extremely costly and hence many times people can’t afford to get themselves treated and the ones who get themselves treated exhaust their entire savings. For example, a cancer treatment may require several rounds of chemotherapy or radiotherapy which often ranges around 1-2 lakhs per session plus associated costs like travel, subsequent advanced medications. The patient ends up shelling out somewhere between 5 lacs to 20 lacs. Also if the bread winner ends up suffering from a critical illness then he/she will not be in a state to earn for atleast 6 months. Who will pay for EMIs or daily expenses? What about the savings he/she had for the child’s education? All of this will cause huge financial distress.

 

How does a Critical illness plan help?

From a financial perspective, a critical illness plan can definitely help the patient.If the person suffering from the Illness has a critical illness insurance cover, the insurance company would provide a lump sum amount to the policy holder on diagnosis itself. SO no medical or hospitalisation bills have to be submitted. For example, if the cover was taken for Rs. 50 lacs, the entire amount shall be provided to the insured person and the amount can be used for any purpose. A few examples where such lumpsum amount can be used are :

  • Hospital Bills
  • Paying of Liabilities  such as house loan, loans taken for personal reason
  • House Modification like if a person can no longer climb steps, their bathrooms need modification or he/she will need to purchase mobility accessories to continue living life as normally as possible.
  • Regular Source of Income for his/her daily expenses.

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Plans available in the Market

There are plans like Aegon iCancer and HDFC CancerCare which provide cover against cancer at a low cost premium. However, they only provide cover against one critical illness. Edelweiss Tokio Life –CritiCare+ provides cover against 17 critical illnesses like cancer, heast disease, chronic kidney failure, organ transplant, permanent paralysis, total blindness etc. It also provides a multi claim option where the policy holder can claim thrice if he is diagnosed by a second or third critical illness. The premium rates are comparatively low for higher sum assured. This seems like a comprehensive critical illness plan that can help one bounceback  from a critical illness without any financial worry.

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This post is written in an association with Edelweiss Tokio Life to create awareness about critical illness insurance.

You need to do due diligence and adequate research before selecting a product to suit your needs.

 

 

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31 thoughts on “BounceBack from a critical illness!

  • April 29, 2016 at 10:28 pm
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    Yes Somali.. Only when we see someone close to us suffer with such critical disease we don’t get serious about it..
    Courage and even money is required for the treatment.

    You have mentioned good and useful plans for the insurance.

    Have a good time Somali.. 🙂

    Reply
    • April 30, 2016 at 8:39 am
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      Thank you Jackie. A lot of moral and financial support is needed at such times and one needs to stay prepared. Have a good weekend.

      Reply
      • April 30, 2016 at 11:45 am
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        You are most welcome Somali. . Yes very true that. A lot of courage and support is needed in such times. Thanks. Wishing you the same. 🙂

        Reply
  • April 30, 2016 at 6:52 am
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    A very informative & needed post, Somali. It’s indeed a good initiative to spread awareness regarding Critical Illness insurance cover. I appreciate it 🙂

    Reply
  • April 30, 2016 at 10:43 am
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    Somali, you give people hope and the vital information to prepare. What a sweetheart you are!

    Reply
  • April 30, 2016 at 10:55 am
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    It’s very informative post, Somali. An accident which kills two is merely a news for us, unless someone we know is involved. Then it turns into a catastrophe. You are so right about it. As far as I believe, most of the medical insurance plans don’t include certain terminal diseases. It was nice of you to guide about this!

    Reply
  • April 30, 2016 at 12:18 pm
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    Very informative article Somali! We too recently lost a dear one to cancer, and it was as bad as can be.
    Planning and awareness can definitely help. These days I’m trying to know more and more about various schemes and policies in India, actually in every field. We may move back to India at some stage.

    Reply
    • May 5, 2016 at 11:42 pm
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      Thank you Alka, Yes, we realize how tough it is when someone close is affected. Always good to have information.

      Reply
  • May 1, 2016 at 10:05 pm
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    I wish someday Medical Science reaches such a stage that we do not call any illness as critical.

    Very informative write-up.

    Reply
  • May 2, 2016 at 4:22 pm
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    A deadly and dreaded disease like cancer needs not only enormous determination, courage of mind, family support, to win over, but most importantly, needs financial soundness. A very informative post…

    Reply
    • May 5, 2016 at 11:45 pm
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      Thank you Maniparna, Yes, financial preparedness is absolutely must to reinforce the determination to fight back.

      Reply
  • May 4, 2016 at 2:24 pm
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    really informative article Somali -something that we all know is true, but nobody hardly thinks -such posts forces us to stop and think. Really admirable of you to post this.

    Reply
  • May 5, 2016 at 11:33 pm
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    I know this …
    Initially the doctor thought that I am suffering from it… Blood cancer… Later got absolutely cured. In fact in my medical check up at UPSC, I was given a clean chit saying ” you are for for all the services ”

    Lovely and sensitive post …

    Reply
    • May 5, 2016 at 11:52 pm
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      That must have been very hard for you. Thanks heaven that you got a clean chit. A blessing it has to be. Probably the whole thing must have made you an emotionally stronger person.

      Reply
      • May 5, 2016 at 11:59 pm
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        Three consecutive losses.
        My mom then a dearest friend of mine and this cancer.. But maa helped me I guess.

        Reply
        • May 6, 2016 at 12:02 am
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          Very tough, but then there are certain things we just have to accept…and may be even use them to draw strength, as you seem to have done. Stay blessed.

          Reply
          • May 6, 2016 at 12:06 am
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            Yes perhaps..
            I have become more selfish you know.. Despite an such losses I still wait for Maa for her blessings, wait for my friend to come back and I keep writing notes and actually started this blog, and selfish to the extent that I couldn’t move on with it , instead I am holding it..
            Even writing this comment from a nursing home due to extreme low bp @ 65/75 , but still life moves on…

          • May 6, 2016 at 12:14 am
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            Wherever she is, she will always bless you and so will your friend, whether you wait or not. Take care , cheer up and get your BP up 🙂

          • May 6, 2016 at 12:50 am
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            Thank you so much…
            I don’t know how to express myself..
            Thank you 🙂

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