Friday, July 27, 2018

How I Protected My Granddad Before He Checked Out

Death is inevitable, this we know for sure. But even with that knowledge, the fact remains that we want to do everything we can to protect our loved ones in every way possible.
Protection comes in all sorts of forms, but one of the most popular ones is insurance. Unfortunately, most insurances only cover death which is not how most people want. After all, nothing can replace being able to spend as much time as you can with your grandparents.

Understanding the Need for Critical Illness Insurance

What is worse than your grandparents getting sick, you ask? It is them getting sick and you not being able to help them through it. That feeling of helplessness can be quite depressing, especially if you cherish your grandparents very much.

This very thought can make you wonder about what a grandchild can possibly do to avoid such an unfortunate turn of events. If you’re like many who have been doing some research online, you probably already heard that it is possible to achieve such a goal with the help of insurances.

Insurance companies like those featured at Purecover offer a wide range of policies, including the popular life insurance for elderly people aged 70 years old. This type of insurance has no expiration date and is active so long as the insured is living. It has a lot of perks and can even provide for the insured’s pet after he or she has passed away.
But while it is good to secure the financial stability of the people your grandparents will leave behind, it doesn’t change the fact that they would have to die before money under their policy is released. Most people wouldn’t even want to think about that. Fortunately, there is another option available in the market today.

Based on this critical information for health and illnesses, it is also possible to get your grandparents insured which they can use while they are still alive. Unlike most insurances, critical illness insurances cover hospital costs for people with serious medical conditions. Even so, that doesn’t mean the insured should be incapacitated.

Most critical illness insurances cover three primary conditions that are considered serious in nature. This includes heart attack, cancer, and stroke. But that doesn’t necessarily mean that these are the only conditions insurance companies can pay you for. Some covers conditions and procedures such as transplant of the heart and other major organs, coronary bypass surgery, angioplasty, kidney failure, and paralysis.

Benefits of Critical Illness Insurance

After learning about critical insurance, you are still probably wondering what makes it so good that people are paying for it. To help you decide if it is perfect for you and your grandparents’ circumstances, here are some well-known benefits of critical illness insurance:

1.    Provides Peace of Mind
The best part of having insurance is the peace of mind it provides. This is especially true for critical illness insurances as they cover costs of hospitalization and procedures that can be very costly.
2.    Pay Out After Diagnosis Rather Than Death
When death comes, nothing can ease the pain of the bereaved. Not even money. Critical illness insurances overcame this pitfall of life insurances by incorporating into its policies the release of much-needed money after diagnosis of the insured rather than upon their death.
3.    Covers Critical Illnesses and Conditions
Simple ailments tend to be significantly cheaper compared to critical illnesses. This pushed insurance companies to include only the serious conditions with expensive treatments into their coverage.
4.    Most Pay Outs are Tax-Free

Some critical illness insurances have the added benefit of being tax-free. This means the insured can take the full amount and maximize it to help in their medical treatment.

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