Introduction~
Medical emergencies don’t just drain our health but drain our wallet too. That’s why insurance is must. But here’s the truth: Health Insurance and Critical Illness Insurance aren’t the same thing, they protect you in different ways. Knowing the difference could be smarter financial move you make.
What is Health Insurance~
Think of your health insurance as your go-to buddy when you land in the hospital.
➕ It reimburses or directly pays for hospitalization, surgeries, medicines, diagnostic tests and even ambulance rides in many cases.
➕ You can claim multiple times until your coverage limit (sum insured) runs out.
What is Critical Illness Insurance~
Now critical illness is more like a backup plan for life’s big scary stuff.
➕ It provides a lumpsum payout when you’re diagnosed with serious illness like (heart attack, stoke, cancer, kidney failure).
➕ The payout is fixed, regardless of the actual treatment costs.
➕ Usually only one claim is allowed per policy term.
Which one to Choose Health Insurance or Critical Illness Insurance🤔
💡Health insurance covers routines, emergency and medical expenses.
💡Critical illness cover provides a lumpsum payout if you’re diagnosed with major illness.
Universally they serve different purpose but the smartest move is to combine both for complete protection.
Why You Might Need Both😁
💡Health insurance ensures you don’t drown in hospital bills.
💡Critical illness insurance ensures you have money to survive financially if you can’t work due to a serious illness.
Together they provide comprehensive protection covering both medical cost and financial impact of life changing illness.
Pro Tip~
Don’t wait until you are in hospital bed to figure this out. The earlier you plan, the easier life gets when things don’t go as planned.