Critical illnesses (CI) are associated with high cost. But there is a way to alleviate such cost burden, which is by having an appropriate coverage. Such CI coverage would help cover raising costs while the patient is being treated due to critical illnesses such as stroke, cancer and cardiovascular disease. This would greatly help not only the patient, but also his or her family during the difficult time.
CI Coverage Was Invented By A Doctor
On the critical illness insurance coverage, here is an interesting fact behind it: while many insurance products were usually proposed by an insurance provider, the critical illness insurance was not. Instead, it was first invented by a doctor named Marius Barnard
Hailing from South Africa, Dr Marius Barnard was known not only as a cardiac surgeon, but also as a member of a team that performed the very first human-to-human heart transplantation in 1967. The team was led by his brother Dr Christiaan Barnard, who was also a cardiac surgeon. For almost a decade, between 1980 and 1989 Dr Marius Barnard also served as a member of the South African Parliament.
In one of his consultation sessions, Dr Marius Barnard encountered a young single-mother patient who had been diagnosed with cancer. Amidst being sick, she still needed to work so that she could provide income to cover her family’s basic needs. It was not long until she passed away due to cancer and only then the life insurance payout was received by the family. This brought Dr Barnard to wonder: wouldn’t it be better if the patient gets the money earlier, when she was diagnosed with the cancer as the poor girl had to work until she is basically dead? As there are many similar cases.
The idea was very much welcomed by insurance companies and the first critical illness insurance policy was introduced on 6 August 1983. Thanks to Dr Marius Barnard and his willingness to push for a new critical illness insurance policy, we can now benefit from the protection that is provided by the critical illness coverage.
CI Coverage Today
With such benefits offered by a critical illness insurance that are being offered today, it is therefore worth setting aside a budget for the coverage. If you are fortunate, you may not need to use the critical illness insurance. Nonetheless, you would be able to take precautions and have peace of mind in the unlikely event of an emergency like stroke and heart attack.
Depending on your insurance policy, you may also use the amount paid by your insurance provider to cover the non-medical costs that incurred during the treatment, such as childcare and transportation costs. Therefore, a critical illness insurance can serve as your emergency health plan while at the same time help one avoid bankruptcy, which is a common result from having to pay extensive amount of medical bills.
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