Holiday and Travel Articles
posted on 30 April 2011
The Critical illness insurance or critical illness cover is an insurance product, where the insurance company undertakes to make a lump sum cash payment if the insured is diagnosed with one of the critical illnesses included in the policy.
The insurance cover may be so structured to pay out other payment options such as regular income or may also be upon events such as the policyholder undergoing a surgical procedure such as a heart bypass operation.
Part of the stipulations of the conditions of the policy requires the insured to survive a minimum number of days, also called the survival period, from when the illness was first diagnosed. The survival period varies from one insurance carrier to the next but the most common survival period is 30 days.
It shall also stipulate the rules that govern the definition when a diagnosis of a critical illness is considered valid such that the diagnosis need be made by a physician who specializes in that illness or condition and may include specific tests, e.g. EKG results that confirm the occurrence of heart attack. In some instances, the insurance company appoints its doctor to validate the diagnosis.
There are several variations in forms of critical illness insurance that veer away from the usual lump sum cash payment model. Some policies directly settle payment of health providers for the costs of medical care of critical and life-threatening illnesses under the program including professional fees of specialists.
What then makes this product special? A critical illness plan is actually Term Life Insurance that will payout the face amount of the policy if you die, but more importantly it also pays out you the same face amount of the policy if you suffer a critical illness and survive. And since the check is paid directly to you, you now have the liberty choose how to spend the proceeds at a time when you need the extra funds the most. |
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posted on 6 March 2011
I have met many hardworking people in my few years in this tough world but if there is someone who deserves a major break like a job promotion, then it is my mother. I am not saying this because we are related and due to that I have to praise her hard work by virtue, it is because I have seen her working her self up the food chain in her place of work and everyone who has met her know that she deserves more. The day came when her hard work was rewarded, she was made the new chief executive officer of the international company, I was exhilarated and so was she. She had never gotten a passport because she had never had time to travel, so she made a Passport Appointment for a speedy passport. She filled all the forms she was supposed to fill and paid the fee she was supposed to pay, she did not want me to go with her in the middle of the school year, she we agreed that I would join her when the school year came to a halt. She called a passport agency to make an appointment, and she explained to them why she needed the passport urgently, and within fourteen days, her passport was ready. |
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