What is the Difference between Regular Health Insurance and Critical Illness Cover?

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2. What is the Difference between Regular Health Insurance and Critical Illness Cover? Regular health insurance and critical illness cover, both policies help in combating the financial crisis that can arise all of a sudden due to accruing any kind of disease. These policies can save you from falling into financial crunches. Though both these policies serve as a method to cater the medical emergencies, there are a few differences among the two. Read further to get to know about the significant differences between the two policies.

3. COVERAGE PROVIDED IN THE POLICY The health insurance policies and critical illness cover both have different scopes on the basis of coverage offered by purchasing the policy from Martin’s Point Medicare NH. The health insurance policies cover a lot many types of diseases and even accidents. The expenses include kind of medical facilities that you have availed ranging from the ambulance to the treatment costs and every bit of the treatment cost that you may have incurred. Maternity health is also covered in the health insurance plan. On the other hand, critical illness cover has a specific list of illnesses that are covered; you can say about 10 to 12 of them. The illnesses include chronic ailments such as kidney failure, cancer, heart attack, organ transplantation, and other similar health issues.

4. WAITING PERIOD Before classifying the plans on the basis of the waiting period let us first understand what the waiting period is. The waiting period is basically the duration that a person has to wait for before claiming the cover under their respective purchased plans and policies. It can be considered as the period after which one can avail the benefits of the policies. Generally, the waiting period for Medigap Plans NH is about a month or two, and then a person who has accrued any kind of disease can start availing the benefits of the cover for meeting the medical expenses. On the other hand, purchasing a critical illness cover has a minimum of three months waiting period before availing the benefits if the cover. Also, the policy stands canceled and void if the purchaser of the policy dies within a month after being diagnosed with any such critical ailment.

5. PREMIUM SUM DIFFERENCE AARP Medicare Advantage Plans Maine offer exhaustive coverage, and thus it is evident that the premium charges will be on the higher side. Whereas you can expect the premium amount to be comparatively less while purchasing a critical illness cover.

6. BENEFITS OF THE POLICIES The benefits of health insurance and critical illness cover also vary on an extensive ground. Health insurance policies promise to reimburse all the Medicare Cost NH and hospitalization expenses that are spent by the purchaser to undergo his/her treatment. And, if the person opts for treatment in any of the network hospitals, then he/she can avail the benefits of cashless treatment for the same. In this case, all the medical bills are directly paid to the hospital by the insurance company. Even after claiming the policy once, the policy continues until and unless the whole insured amount is exhausted and can be renewed every year to continue with the benefits of the policy purchased.

7. On the other hand, critical illness cover has another set of advantages of purchasing it. Here the insured person does not have to submit bills and other mandatory documents as proof for the medical expenses. He/she can directly get a lump sum amount insured to undergo his/her treatment. So it is at the purchaser’s discretion on how to use the money, and in this case, the policy comes to an end after claiming the amount once though you can purchase another critical illness cover later. So now since you know the benefits of purchasing health insurance and critical illness cover, which are you planning to buy? Do let us know! Source:- https://bluegoosemaine.wordpress.com/2019/0 5/22/what-is-the-difference-between-regular-health- insurance-and-critical-illness-cover/

8. Contact Us 500 Southborough Dr #300, South Portland, ME 04106, USA Blue Goose Inc. Blue Goose Inc. Blue Goose Inc. www.Bluegoosemaine.com info@bluegoosemaine.com