Health is all a concern, especially when increasing levels of stress and unhealthy lifestyles, as well as environmental changes, have made several lifestyle ailments more common, some of which can be life-threatening.
On a personal level, people use health insurance to deal with medical emergencies. Today, even employers are concerned about the health of their employees because it has a direct impact on the efficiency and productivity of the company. Hence, it has become a kind of corporate culture to ensure employees under critical insurance policies.
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In NZ, a critical illness policy is gradually gaining popularity as a reliable form of insurance. Several times it added life insurance coverage. The human resources department, which covers insurance on behalf of employees, has to take care of any illnesses covered by the policy, as insurance policies only cover a limited number of illnesses.
Some policies even have a list of illnesses that they consider critical and the insured must choose from that list. The Critical Illness Policy provides much-needed financial assistance in the event of a serious illness which requires a long time and expensive medical costs.
In some cases, it even includes problems that limit a person’s movement and immobilize him, such as paralysis and coma. In such a scenario, the person concerned receives a flat rate. It depends on the person how they will use the money.
If there is any remaining balance that he received from the insurance company, he can use it for personal purposes. The Critical Illness Policy offers a person the opportunity to live a healthy life by providing funds for further treatment and rehabilitation.