What illnesses are covered in my critical illness plan?
There are many critical illness insurance plans available on the market, they all cover different critical illnesses and depending upon which plan you decide to have will depend on the actual illnesses covered. The better plans that are available on the market will give you cover for up to 40 critical illnesses and the ones at the lower end of the market will cover you for up to 29 critical illnesses.
Looking at this it is very important that you do your research and pick the best policy that suits your needs. The majority of plans will cover you for the following critical illnesses: Alzheimer’s, Aorta Graft Surgery, A plastic Anaemia, Blindness, Cancer, Cardiomyopathy, Deafness, Heart Attack, HIV Infection, Kidney Failure, Liver Failure, Lung Disease, Multiple Sclerosis, Paralysis of Limbs, Parkinson’s, Dementia, Stroke, Third Degree Burns and Traumatic Head Injury to name a few. The majority of the claims come from cancer, heart attack and stroke.
The main claim is for cancer and the majority of cancer claims that get paid out are breast cancer in women and then in second and third heart attack and stroke in males. Also within the top 10 claims is children’s cover, this is an added option on the majority of critical illness plans and if any of your children so long as they are naturally yours or they are legally adopted. The claim is not normally a full payout it is normally a pre determined percentage or a set lump sum from the outset of the plan
The insurance market is flooded with a variety of insurance plans in relation to critical care. There are several policies that deal with specific critical illnesses. There are some that are more generic in nature. When you are out scouting for critical illness plans make sure that you look at those that provide you with a range of around 40 illnesses. To begin with you can even begin looking for those that start at around 30 illnesses to begin with.
Considering that the market has a huge range of policies and coverage to look through, the research you put into it is very important. This will ensure that you get the best possible plan, with the most comprehensive of coverage. Some of the illnesses that commonly covered are
- Alzheimer’s
- Aorta Graft Surgery
- Aplastic Anaemia
- Blindness
- Cardiomyopathy
- Deafness
- Heart Attack
- HIV Infection
- Kidney Failure
- Liver Failure
- Lung Disease
- Multiple Sclerosis
- Paralysis of Limbs (more than one)
- Parkinson’s
- Dementia
- Stroke
- Third Degree Burns
- Traumatic Head Injury
As is observed, the largest number of claims comes from illnesses such as cancer, heart attacks and stroke. Even among the cancer claims, breast cancer in women claims the highest market and this is followed with heart attacks and strokes in men. An advantage with critical claim policies is the children’s coverage that is provided and this too forms an important choice. These claims are applicable to children who are yours’ by birth or those whom you have legally adopted. Though not a complete payout, there is a percentage of payment that is agreed upon initially. This is settled on at the beginning of the plan.