No one wants to fall sick. However there are various factors, physical, heredity and psychological that can cause a medical emergency. Medical insurance helps safeguard against such emergencies and helps us deal with the situation in the most appropriate manner. It is your safety net against the high cost of diagnosis and treatment.
If you are diagnosed with critical illness, it is a huge challenge to cover the costs of the treatment. You can choose a critical illness insurance plan, where you will become eligible to receive $25,000.00 lump sum benefit within 30 days, if you are afflicted with any of the following ailments.
- Cancer
- Heart attack or stroke
- Coronary Bypass surgery
- Aortic surgery
You can choose to use the money in whatever manner you like. It can be used to pay for your medical bills or hospital stay. If you are resident of Canada and are between the ages of 18 to 60, you are eligible to apply for the cover. If you are a non-smoker you will enjoy 50% savings when compared to the premiums that smokers pay.
You will not be able to seek medical attention, if you do not have the requisite medical insurance to cover your expenses. It is very important to choose the correct insurance plan that is custom made for you. The cost of health care has gone up over the years and it would be sensible to opt for an insurance plan after you take into consideration all your specific requirements.
The plan will not just cover your medical expenses but you can also cover your entire family by choosing a family plan. Ill health comes unannounced and you will need enough money to cover the high costs of tests and treatment. It can be very stressful, if you are not adequately covered by the plan you choose for yourself and your family.
The premium that you pay for the plan will depend on a number of factors and these include:
- Age of the individual and if family is included, the age of all the family members.
- Previous and current health conditions
- Family history of ailments
- Fitness level of the individual
- Personal habits such as smoking and drinking
- Place of work (occupational hazards)
All these factors will help in determining the premium that needs to be paid for the insurance plan. You can choose to pay the premiums monthly, quarterly or annually depending on your individual capabilities. Paying of premiums is a long term process and it is important that you access the financial situation properly before deciding on the plan of your choice.
If the individual has lifestyle habits that are considered potentially dangerous to cause an illness such as smoking and drinking the cost of premium would become higher. It is always advisable to choose plans that have more coverage. These may be costly in the initial stages but it will also help cover a lot of illnesses.
The benefits will vary depending on the features of the medical insurance plan. Nowadays there are a number of health care products that are available and you can make your choice based on your individual budget and preference. Finding the right coverage is important as it will help in addressing your specific medical needs. You can also choose a customized plan for this purpose.
It would always be advisable to get an insurance plan at a young age as the premiums will be much lower. If you disregard the necessity of medical insurance, you will only live to regret it later. The spiraling cost of treatment would make it virtually impossible to get adequate medical attention. So you should not take it lightly as buying it today will help you live in peace. If you and your family are covered with this type of insurance plan, it will help you get the confidence to face any eventuality or medical emergency. Get peace of mind by making the right decision and investing wisely in your health.
Comments