Would you opt for critical illness insurance? Rest assured that it could be considered difficult to imagine yourself in a tough position where you might require filing an insurance claim for critical illness insurance. Nonetheless, it would be imperative to prepare for the chances of being affected by a critical illness along with the physical, emotional, and financial costs of surviving the illness.
It would be pertinent to mention here that living with and beyond a critical illness would be immensely challenging and expensive. The chances of your recovery leaving you with the cost of healthcare services, home care costs, prescribed healthcare supplements, childcare, cost of home modification and renovations for new accessibility requirements, and other expenses would be difficult to cover with traditional health insurance or a government health insurance plan. The best critical illness cover would provide you with all these aspects.
You do not want to be left in a hard position
Most people think that they could rely on their spouses, sale of assets, retirement savings, or assistance offered by the government if they find themselves in need. However, you do not want to be left in a hard position where you would require hope that such options come to your assistance timely. Rest assured that you could not rely on such options. Moreover, critical illness caters to you with additional benefits such as –
- Providing coverage for expenses that are not covered by your healthcare system
Critical illness insurance could assist offset some of the costs of specific drug prescriptions or specific treatments that you might have to pay from your pocket otherwise.
- Protects your retirement
You do not want to consume your retirement savings to accommodate the costs of your illness. It would be pertinent to mention here that those savings have been there for a specific purpose and you do not wish to sacrifice your future lifestyle or your ability to retire when you wish to.
Critical illness caters to you with insurance coverage offering financial relief you require to prevent the need of consuming your savings. It would help you keep your retirement as you had planned. Moreover, critical illness insurance has been designed for –
- Reducing debt and other financial aspects while coping with your illness
- Replacing lost or reduced income for you and your spouse
- Covering the costs of bringing additional assistance into your home
It would be worth mentioning here critical illness insurance provides you with a chance and the ability to consider new medical treatment along with medications that might not be covered by government or private health insurance plans.
Now that you have chosen and acquired critical illness insurance for your loved one and hired a maid to assist the patient in their routine chores, you might wonder why do you need to buy maid insurance in Singapore?
Should you get your maid insured?
When your maid is insured, rest assured that you had given the reimbursement and compensation for covering accidents or hospitalization. Rest assured that the coverage would be dependent on the kind of plan you prefer to opt for. Regardless of everything, it would be beneficial for the maid.
Do you wish to travel in your illness?
If you wish to travel in your illness, it would be vital for you to consider seeking the Best Travel Insurance with COVID 19 Coverage (2022). Not all companies would offer you covid-19 coverage. Therefore, it would be in your best interest to look for the best insurance coverage offering the best services for a relatively small premium. Consider researching thoroughly to avail of the best insurance coverage for you and your family.
