Health Insurance vs Critical Illness

About Health Insurance vs Critical Illness

In the context of the current global health crisis, being prepared for medical emergencies has emerged as a greater priority than ever before. Given the unpredictability of various medical conditions and the rising costs of healthcare, it is prudent to be financially prepared with a trusted insurance plan. However, a common dilemma that often emerges regarding the topic of being medically insured is that of health insurance vs critical illness covers.

Both health insurance and critical illness covers are designed to serve as much-needed financial assistance in the event of unforeseen medical requirements. However, while both of these products share this and other similarities, they also differ significantly in other aspects. Therefore, as an insurance seeker, it might be worth taking a better look at the health insurance vs critical illness discussion, and making your choice with the best foot forward.

What Is Health Insurance?

Firstly, let us review what is meant by health insurance. Health insurance refers to a type of insurance that serves the purpose of paying for medical or surgical expenses for the insured individual or individuals. Health insurance comes in a variety of different forms, and depending on the terms of coverage, the insured can either be reimbursed for the medical expenses or the payment can be made directly from the insurer to the healthcare provider.

What Is a Critical Illness Cover?

Next, let us review what a critical illness cover is and how it works. In the context of insurance, the term ‘cover’ is used to refer to an additional feature you can add to your existing insurance plan in order to enhance your coverage. If the event or unfortunate circumstance specified by an insurance cover does take place, your insurance coverage can be extended to help you meet expenses. In the case of Critical Illness cover, your insurance coverage can be enhanced to help you financially cope with the expenses relating to a wide range of debilitating diseases, known as Critical Illnesses.

Differences Between Health Insurance and Critical Illness

Now, that we have a better understanding of the concepts of health insurance and critical illness cover, let us review a point-by-point comparison between the two. To help put the health insurance vs critical illness in perspective, here are the differences between them:

Conclusion

In these aforementioned ways, health insurance and critical illness cover are considerably different from each other. However, one thing that is essential to remember amidst the health insurance vs critical illness discussion is that both serve their own purpose when it comes to helping the insured deal with the rising costs of healthcare. While critical illness cover offers assistance for specific diseases, health insurance offers a more extensive coverage for a variety of conditions.

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