Critical illnesses are life-threatening conditions. Critical illnesses are sicknesses that have higher tendencies of resulting in permanent disability or death.
Illnesses classified as critical illnesses are categorized and catered to under a special heading of life assurance. In order to cater to persons experiencing such illnesses, it is compulsory they hold a critical illness insurance policy.
Critical illnesses insurance provides a lump sum benefits to the holders of the policy as soon as the holders are diagnosed with one of the specified terminal illnesses. In most cases, critical illness insurance ensures that the lump sum is paid during the illness instead of death. The purpose of the payment is to provide a significant improvement to the condition of the policyholder.
The lump-sum payment is usually paid to:
- Pay bills such as basic living expenses and mortgage
- Pay for home care and costs during rehabilitation
- Settle deductible costs in the health insurance plan to prevent medical debt.
Different providers of critical illness insurance policies define illnesses that fall under the critical illness category. As a result, the policy should be critically examined to know if the illness being considered is included under the classification.
Illnesses Considered as Critical
The following are critical illnesses that may be covered by a critical illness insurance company:
- Coma
A coma is a condition of being unconscious for a long time. The patient in a coma will not be able to respond to his/her environment or any stimuli, including pain. An injury usually causes damage to the brain.
- Cardiac Arrest
A cardiac arrest is an electrical signal problem of the heart that causes the heart to stop pumping blood around the body. When the heart stops pumping blood, the brain becomes starved of oxygen, which causes the victim to become unconscious and stops breathing.
- Stroke
A stroke is a sudden break in the supply of blood to the brain usually caused by the blockage of the blood vessel carrying oxygen and nutrients to the brain. The blood vessel may be either be blocked or ruptured.
- Traumatic Brain Injury (TBI)
A traumatic brain injury is an injury to the brain, which disrupts the normal functions of the brain. An external mechanical force usually causes it, and it usually affects the physical, psychosocial, and cognitive functions of the brain.
- Blindness and Deafness
These are sensory impairments, where the patient does not see and hear.
