It is very upsetting news when one is diagnosed with some critical illness.
It is more upsetting when the patient finds out that there is no insurance coverage for the required medical treatment.
Hence, many affected consumers find out the hard way about the necessity of illness insurance cover plans but it may be too late.
Alternatives If the consumer does not have the right critical illness insurance policy when diagnosed with some serious illness, there are a couple of alternatives of consideration.
The consumer must come out with their own funds for the medical treatment that would be required over a prolonged period of time.
There must be enough personal savings or assets which can be converted into the required funds depending on the severity of the serious illness and its duration before total recovery.
Another alternative to serious illness coverage is to seek the financial assistance of the government.
There are governments that cater to the healthcare of their citizens or residents; especially if the patients fall into one of their concerned categories such as orphans, senior citizens, public servants or handicapped.
The medical treatment bills and medication as well as convalescing costs would be undertaken by the respective governments or discounted to the patient.
The third source of alternatives to serious illness coverage is through charitable organizations and non-government organizations (NGOs) that would raise funds from the public involvement or companies that are active in their corporate social responsibility.
Policy choices There are so many aspects of serious illnesses that need to be looked into carefully to decide on the best insurance plan for any individual.
There are various factors of consideration in generating up the appropriate illness cover for any individual.
There are also many types of critical illnesses which can be covered by different insurance companies.
Hence, consumers need to be in an active discussion with qualified professional insurance brokers who are experienced in advising the right coverage against one or more illness.
It is not easy to draw up the best of serious illness insurance for any individual quickly.
The consumer would need to think about the premium attached to the type of serious illnesses to be covered.
There are flexible serious illness insurance plans which allow addition or removal of various serious illnesses depending on the need and financial condition of the policyholder.
This is one of the better insurance policies as there may be updated critical illnesses over time.