4 myths on critical illness insurance busted!

Health concerns such as strokes, cancers, heart attacks, and kidney failures are all too common these days. It is quite likely that someone you know has been a victim of these health complications. The treatment required for these critical illnesses includes hospitalization, long-term medication, therapies, and so on. These treatments can put quite a dent in your savings. To avoid such a financial burden, a critical illness insurance policy is the way to go.

However, there are many who are unaware of the benefits of such a policy. In fact, there are many myths regarding a critical illness insurance policy. This misinformation comes in the way of people getting the right coverage they need.

To throw some light on these inaccuracies, we have listed down 4 myths on critical illness insurance which are not true at all:

Myth 1: You do not need critical illness insurance when you are young

When you think of illnesses, you mostly think of old age. However, it is very important to understand that any individual could face critical illness irrespective of their age is. They might still be young but might have a lot of stress, lead an unhealthy lifestyle, and follow an improper diet, which could lead to a critical illness. This is why it is always good to have a critical illness insurance policy that will financially cover you.

Myth 2: Critical illness insurance is the same as health insurance

For those who are not familiar with the insurance world, a health insurance plan could seem very similar to a critical illness insurance plan. However, the former covers your basic hospitalization expenses when you are admitted to a hospital. The latter brings you a lump sum amount if you are diagnosed with a critical illness. 

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