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Insurance for Serious Illness: Long-Term Care Plans Should Fit Your Needs and Budget

Insurance for Serious Illness: Long-Term Care Plans Should Fit Your Needs and Budget

Health insurance

When you buy health insurance, what are you hoping to avoid? Many people envision themselves getting into an accident, breaking a leg, or coming down with an infection that needs attention right away. Unfortunately, we don’t anticipate what’s just as common: a long-term health condition.

It’s wonderful to have health insurance when an emergency with temporary physical consequences crops up. However, what you really need is insurance that will care for you when you’re unable to go on about your daily life for months or years.

Your New Plan

Two terms you might hear when you look up health insurance include “indemnity” and “benefit”. With indemnity, your coverage includes hospital stays. Naturally, indemnity covers a certain amount of money billed during your stay. If your stay does not exceed the amount you’re covered for, that coverage can be used later.

It’s also worth noting that it’s beneficial to be located near a hospital in your insurer’s network.

Then you have benefit plans that can help you when you’re dealing with long-term conditions which require outpatient treatments. During this time, you may have extra expenses, such as travel to and from treatment, or lost wages. A benefit payment can help you cover these losses.

When you’re buying coverage, the indemnity route seems like the best way to go, but to truly insulate yourself from the high cost of healthcare, both are ideal. After all, the costs of being ill or injured extend far beyond the hospital walls.

The C-Word

Worldwide, India’s cancer rates look low compared to other countries, particularly in the West. However, there are exceptions. Take for example the fact that women in India are increasingly vulnerable to certain fatal cancers.

Mortality rates there are high due to the fact that early stages are frequently asymptomatic, and too many women aren’t getting early detection screenings. Regular checkups are another feature of many health insurance plans that can help get us to the doctor more often.

In addition to exams, you can also look into a cancer insurance plan. A cancer insurance plan is a benefit plan formulated to help alleviate high costs of treatments, making them more accessible to those diagnosed with cancer.

Speaking of diagnosis, cancer comes in a few different stages. If you’re diagnosed while still in the early stages, you might not have to undergo lengthy, aggressive treatments. In these cases, a cancer benefit plan will pay a certain percentage out, so you can move on with life as soon as you get the all clear.

In cases where cancer is more advanced, or critical, the plan can pay even more than you signed up for, allowing for more advanced treatment options.

People who are genetically predisposed to certain cancers may find themselves with a few different kinds, at different times. Your cancer policy can cover all of them.

Can you afford a single medical emergency out of pocket? If not, the chances you could manage a long-term illness all alone are even slimmer. Buying health insurance after the unexpected occurs isn’t an option. Check out plans today, and prevent you and your family’s lives from being disrupted by the rising cost of healthcare.

About Aegon Life

Aegon Life Insurance Company Limited launched its pan-India operations in July 2008 with a vision to be the most recommended new age life insurance Company. Aegon is one of the world’s leading financial services organizations (providing life insurance, pension plans, and asset management) and Bennett, Coleman & Company (India’s leading media conglomerate) have come together to launch Aegon Life Insurance. This joint venture adopts a local approach with the power of global expertise to facilitate a direct to customer approach, leveraging digital platforms to bring transparent solutions to customers and to prioritize their needs.

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