How to save money on critical sickness insurance

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How to save money on critical sickness insurance
BY IKPEAK.COM / ON APRIL 25, 2018 / AT 3:35 PM / IN HEALTH INSURANCE




A critical sickness insurance also known as a living benefit is an insurance that is paid out to those who have being diagnosed with one of the major sicknesses unlike life insurance which is paid out to the families of a dead person.

It is very important to do some research to find the best insurance company, because not all companies cover most the major sicknesses, some only cover a few specific ones.

Here is a list some of the major illnesses usually covered by critical illness insurance: Stroke, cancer, severe burns, heart attack, major organ failure, Alzheimer’s disease, aortic surgery, loss of limbs, aplastic anaemia, bacterial meningitis, benign brain tumour, blindness, coma, coronary artery bypass surgery, paralysis, deafness, heart valve replacement, loss of speech, kidney failure, motor neuron disease, loss of independent existence, major organ transplant, MS, occupational HIV infection, and Parkinson’s disease.

Here are some tips on how you can save some cash on a critical insurance plan.

Try looking for a critical health insurance that best targets illnesses you are most likely to have in the future, perhaps due to family history of that illness, because the more diseases the plan covers the more you are likely to pay for it, so the more specific you are the more you save.

Age is a big factor to insurers when it comes to deciding how much you pay for your health plan, because they tend to round up or round down your age depending on when your birthday is, so you should try and get your plan as close to your current birthday as possible to prevent them rounding up your age to your next birthday. This should help you save some cash on your premium.

It might be in your interest financially to find out if paying annually for your premiums would cost you less instead of paying monthly, reason being that it cost the insurance companies money to process your monthly payments and they might reward you for making your payments annually instead.

Some policies have benefits that you’re charged for, even though you haven’t asked for it or need it. These could be in the form of a child sickness riders, make sure you ask them if there are any of these extra benefits included already in your policy and ask if they can be removed to save you more on your premiums.

here are more ways to save on premiums, you just need to make sure you ask as many questions as you can to find out how you can save more and only pay for what you need not what they think you need.
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