With the opening up of the insurance industry in the country, we can now look forward to innovative products and one such product, which is very popular internationally, is the CRITICAL ILLNESS COVER (The insurance that pays for living).

"Not because you are going to die, but because you are going to survive..."
as said by Dr. Marius Barnard, the person who created the concept of Critical Illness during the 1980s.

Critical illness can devastate a family and while its medical impact cannot be compensated for, its financial impact can.

The Money to spend as you wish:

A critical illness plan pays you a lump-sum upon diagnosis and the money thus received can be utilised to multiply your options, so that you can stay in control, not be a burden to others and can concentrate on getting well. Also you don’t have to be confined to the hospital or disabled or die to receive this benefit.

Statistics have shown that one in every four will have contracted a critical illness by the time they reach the age of 65 and life is never the same again and so the lump-sum received through the benefit, could more than compensate your life style.

Just look at what the benefits from this cover could get you-
Pay for your prescribed drugs
Pay off your outstanding debts
Supplement lost income
Pay your bills
Buy whatever you want
Take a holiday
Maintain the quality of life
Take an early retirement
Choose the medical treatment you want
Modify your home and many more.

It is to be understood that unlike in Medical insurance the benefits under this plan is given to the holder of the plan and they have the liberty to do what ever they wish to with the money and the lump-sum thus received in this plan is totally free from taxes.

Generally the Critical Illness plan covers the following illnesses Cancer, Heart attack, Cardiac surgery, Multiple sclerosis, Renal failures, Neurological disorders, Alzheimer's disease, Parkinson's disease, Stroke, Lung diseases, Blindness and Dismemberment of limbs.

With the advancement in medical sciences and health care services, more and more people are likely to survive the above mentioned conditions, who 30 years ago would not have survived these diseases.

Thus this cover provides the peace of mind, in the sense that they need not be concerned of the financial losses should a critical illness strike them or anybody else in the family.

So a critical illness cover should be a must in everyone's financial planning and not risk on the quality of life if such an event were to occur.

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