Health Insurance: Let It Not Drain Your Wealth

by Vanessa Jones on April 30, 2013 at 3:43 PM
 Health Insurance: Let It Not Drain Your Wealth

When you have enough wealth accompanied by health problems - which will slowly corrode your wealth with medical expenses.

You can take care of your health with a healthy and stress free lifestyle, but at the same time invest in a good health insurance. Through insurance plans and benefit policies, like a critical illness cover. These are not, as most people think as "only either one". Rather you need to take into account your age, health condition and sum assured.


A critical illness cover pays a predetermined fixed amount to the beneficiary on diagnosis o listed illnesses like cancer, bypass, kidney failure etc. In the case of a regular health plan - the actual expenses incurred during treatment and hospitalization is reimbursed to the policy holder.

For an illness like cancer or renal failure, the medical expenses are very high due to hospitalization and inability to work due to recuperation from surgery and treatment. When critical illness cover is taken as a rider to an insurance plan - it gives you an assured sum on diagnosis which helps you through loss of income during the recuperation period.

Once you use the lump-sum for critical illness the contract ends and you may not be able to apply for a new policy at this stage - it is always better to have a basic supplementary health policy also, to tide you over medical emergencies in future.

When you buy a health policy it is best to enhance it by taking one for critical illness plan, which gives you a lump-sum payment on diagnosis.

There is an entire range of health products available in India, buy the appropriate plan to get a comprehensive health cover.

References :

Hannah Punitha (IRDA Licence Number: 2710062)

Lovaii Navlakhi, April 2013

Source: Medindia
Font : A-A+



Recommended Readings

Latest Health Insurance News

Medicare's Telehealth Cut Raises Patient Access Concerns
The Medicare Benefits Schedule Review Advisory Committee (MRAC) is seeking input on the recommendations as part of its broader review of Medicare-funded telehealth services.
How Crucial is Medicaid for Adults Living With Down Syndrome?
As a growing number of individuals with Down syndrome reach advanced ages, the Medicaid system should be prepared to deliver customized healthcare.
Health Insurance Gap: 25% of Low-Income Older Americans Uninsured
Discontinuities in health insurance coverage among older Americans, who experience a higher prevalence of health concerns compared to the broader population.
1 in 5 Medicare Recipients Travel Over 50 Miles for Neurologist Visits
The distance one must travel can pose a significant obstacle to healthcare access for people dealing with chronic neurological conditions.
The Visible Toll: Affordability Crisis in Health
Inability to afford better healthcare is apparent in the appearance of the malnourished poor, just as the obese reveal the "cost" of their health.
View All
This site uses cookies to deliver our services.By using our site, you acknowledge that you have read and understand our Cookie Policy, Privacy Policy, and our Terms of Use  Ok, Got it. Close

Health Insurance: Let It Not Drain Your Wealth Personalised Printable Document (PDF)

Please complete this form and we'll send you a personalised information that is requested

You may use this for your own reference or forward it to your friends.

Please use the information prudently. If you are not a medical doctor please remember to consult your healthcare provider as this information is not a substitute for professional advice.

Name *

Email Address *

Country *

Areas of Interests