Insurance products continues to grow. The basic form of insurance protection against life alone, currently on the market a lot of developing other types of insurance. One of them is the critical illness insurance.
Critical illness insurance provides benefit to the policyholders sum of money if the insured suffered a critical illness. Critical illness in question is classified as severe illnesses, such as heart disease, tumors, cancer, and kidney. Critical illness insurance was first created by Dr. Marius Barnard in South Africa on October 6, 1983. The products are accepted in many countries.
When plagued by critical illness usually erratic recovery. Costs incurred was not small. Critical illness insurance provides benefit when the insured sentenced to suffer from one of a series of critical illnesses included in the policy.
Critical illness insurance products are also a lot to offer companies in Indonesia. Usually we as consumers will assume already feel safe if you have a critical illness insurance policy. Our expectations as consumers, if exposed to one critical illness, we already have protection so no need to spend money for medical expenses. Was that easy?
Pay attention to a few things
There are some things that need to be observed when purchasing critical illness insurance. Rules differ from one insurance company to another insurance company. Things we need to look the other is when the policy will expire. Termination of the policy can be made by the policyholder or the insurance company.
For example, the policyholder can request policy ends with prior notice and will take place on the next premium due date. The insurance companies can no longer unilaterally extend the policy so that the policy is not valid. In addition, there is an end to the policy automatically, ie if the insured dies, the end of the insurance program, or premium payments stopped.
Another thing that is important is what the terms and conditions of payment of the sum insured. Is when first sentenced to suffer a critical illness is or there are other rules. Many insurance companies that offer critical illness protection, but does not directly provide compensation when the disease comes.
Critical illness insurance can offer protection to tens of critical illness, but it is usually given cash compensation is only one disease. So, if someone had a heart disease to kidney failure, the insurance company only provides benefit for heart disease or kidney failure alone.
Generally, the critical illness insurance policy stated that the insurer is not paying compensation if according to a doctor’s diagnosis early symptoms of critical illness had occurred prior to the effective date of the policy.
There is also a policy which stipulates that the money be given compensation if the insured is still alive if for 30 days after being diagnosed with a critical illness for the first time by a doctor. Thus, according to this policy, if the insured is diagnosed with a critical illness and died a week after the diagnosis, the insurance company will not give money compensation.
In another critical illness insurance policy is found that welfare money for kidney disease will be given if the kidney disease reaches the final stage that requires periodic dialysis or transplantation.
That is, before reaching the failure of both kidneys, do not expect any welfare money that comes out. In fact, before reaching the failure of both kidneys, the policyholder has been spending a lot of money for medical expenses before the two kidneys malfunction.
While at the same policy set on hepatitis. Compensation for new hepatitis diseases will be provided with the requisite criteria for diagnosis as rapid diminution of liver, liver parenchyma death covering almost the entire lobe of the liver and cause damage to the reticular and function. It should also show the results of liver function tests that there was massive destruction perinchym liver, icterus real and hepatic encephalopathy.
Referring to these requirements do not necessarily if exposed to hepatitis policyholders will benefit critical illness insurance. Medical terms are difficult to understand by the layman too much scattered critical illness policy. The agent also may not be able to explain the meaning of these terms.
Beware also of insurance money that overlap. For example, there are products that offer life insurance money amounting to Rp 100 million, critical illness insurance Rp 100 million, and disability insurance money amounting to Rp 100 million.
For example, we as a customer in the fifth year diagnosed with kidney disease. This disease is one of the critical illnesses covered and insurance companies are gradually giving money insured up to Rp 100 million. It could be that life insurance money is not given because it was already included with critical illness insurance money, so that the sum insured is up.
To avoid disappointment and disagreement in the future, it is critical illness insurance policy should be reviewed carefully, although sometimes confusing. If after being read, understood, did in fact we as consumers are not pleased and did not agree with the rules in the policy, the policy can be returned and canceled, and we get back the premiums already paid.