Haying a life insurance is now very common among people, as everybody has understood and realized the importance of it. Good way to go!! Does everything end here? Just buying a life insurance policy is not everything you need to do, but you must be totally aware of the policies, the benefits you can reap from it, the coverage and claiming possibilities, the riders and its benefits and much more. Very important in this list is the critical illnesses coverage, which is the major predominant one, but unfortunately not everybody is aware of it.
It is one of the most important benefits that any life insurance policy has to give for its policy holders, but not all agents uncover it to you. Here comes the responsibility of the individual policy holders to seek for the details that can avail as part of their policy.
Policy’s Can Repay Your Medical Bill
Critical illnesses such as cancer, paralysis attack, heart attack, heart surgery and organ transplantation are not only mentally and physically torturing, but also financially. No worries but, because your life insurance policies give you critical illnesses coverage for the whole amount of your treatment, so your financial worries can go in vain.
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Under your life insurance policy, if the insurer is diagnosed from a life threat disease, the policy not only settles your hospitals bills, but also settles the mortgage loans that the insurer has in his/her name, so their dependents need not face the burden of repaying the mortgage.
When purchasing your life insurance policy, you will have to undergo a medical test, determining the result of which the policy premium amount will be decided. When certain diseases are diagnosed during the medical test, based on the severity of the disease, the premium amount might vary.
Not everybody knows these benefits and making the best use of it, which is where the really pathetic condition is. It is the sole responsibility of the insurer to know the in and out of his policy and get the benefits from it.