A widespread misunderstanding of the difference between medical insurance and critical illness cover means that many people are under insured for an instance of critical illness. As an employee, you might receive medical insurance cover as part of the company’s employee benefits, and believe that’s all that is required. As such you might think that purchasing critical illness cover is superfluous, as you believe that it provides cover similar to medical insurance which you already have. 

Medical Insurance vs Critical Illness Cover

While medical insurance cover will take care of your hospital bills and other medical expenses in the event of illness, it will not cover your day-to-day expenses while you are in the hospital or recuperating at home. This is where critical illness cover comes to the fore.

The funds from a critical illness policy can be used to help cover your ongoing financial commitments such as your rent or mortgage payments, utility bills, and loans, as well as the cost of daily living such as groceries and school fees. This allows you to focus on getting the immediate treatments you need and your long term recovery.

Historically, critical illness policies would only cover a few major medical emergencies. Today critical illness cover offers extensive coverage across a range of critical illnesses and disabilities that vary in severity.

Critical Illness Is On The Rise Globally

Globally, critical illness statistics are depicting rising numbers in incidences and an increased per individual risk of being diagnosed with a critical illness at some point. Not having sufficient critical illness protection in place can, therefore, leave you extremely vulnerable in terms of financial commitments, at a time when your main focus should be on recuperation and physical and mental wellbeing in the long term.

Critical Illness Cover Provides Security For You And Your Family

A critical illness policy guarantees that a lump sum payment is made directly to the policyholder upon diagnosis of one of the illnesses/disabilities specified under the policy. It’s important to have Critical Illness cover for all family members since the illness of any family member could impact your financial situation.

At InsuranceMarket.ae, we make sure you get a comprehensive medical plan that adds an extra layer of protection from life’s speed bumps like Critical Illness. Not just that, we also ensure that you have access to our dedicated claims team, and give you complete financial peace of mind.

About Author

Rachel Al Mughairi

About Author

With over 34 years in the international insurance industry in a variety of senior management roles, and as holder of the Diploma in Insurance from the Chartered Insurance Institute, Rachel surely knows her insurance! With experience in London, continental Europe and the Middle East, Rachel is here to share her knowledge and help you understand more about insurance products in this easy-to-understand series of videos and blogs.