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3 things to know for worthy critical illness insurance!

3 things to know for worthy critical illness insurance!

September 12, 2023

5 minutes

Critical illness insurance provides coverage for medical treatment expenses when the insured has been diagnosed with a critical illness which often requires high expenses. Critical illness insurance helps relieve the burden of medical treatment expenses for the insured and their families due to the critical illness. Yet, who should buy it? Men, women, kids, the elderly, or those at risk from both genetics and lifestyle habits? Is there critical illness insurance for the elderly or women? Let's find out together.

Why do we need critical illness insurance?

Why do we need critical illness insurance

Just seeing a medical bill from a common disease, we can see that the price is very high. However, it is very small compared with expenses from a critical illness which are many times higher because each illness requires a specialized treatment and requires more complex treatment. Therefore, if you have a critical illness insurance providing support to ease the burden of medical expenses for you and your family, you can feel secure in the uncertainties of life. Critical illness is unpredictable. It can happen at any time to all genders and all ages, whether you are a child, a man, a woman, the elderly, or a person with good health. 

The main causes of critical illnesses are lifestyle habits as follows

  • Like to eat meat, grilled food, fried food, high-fat food, or eat the same food repeatedly
  • Smoking and drinking alcohol
  • Accumulated stress.
  • Infection with viruses, bacteria and parasites
  • Impaired immune system.
  • Overweight
  • Not exercising.
  • Not eating fresh vegetables and fruits.

The benefits of having critical illness insurance are as follows

  • Create financial stability: Critical illness insurance protects you from high medical expenses, such as surgery fee, treatment fee (complex treatments) and medication fee. When you have a critical illness insurance, you won't have to worry about the expenses.
  • Access to appropriate treatments: Having critical illness insurance allows you to receive appropriate and timely treatments, including access to modern medical technologies. For example, Care Plus gives you access to chemotherapy, targeted therapy, stem cell transplantation, immunotherapy,  online hemodiafiltration, vascular access and etc.
  • Alleviate concerns: A critical illness has impacts on many things, not just impacting the patients but it can also cause concerns and stress among the family members. Therefore, having critical illness insurance will help relieve worries about expenses and give peace of mind to your loved ones.

Where to buy a good critical illness insurance?

Where to buy a good critical illness insurance?

Currently, critical illness insurance cover diseases that we are concerned about, such as cancer, kidney disease, high blood pressure, diabetes and etc. It responds to the buyers’ needs looking for coverage to reduce the risk of expenses from unexpected critical illnesses. Choose the right insurance company that is reliable and stable is an important matter that should be considered in the first place to benefit you the most, as listed below

  • Does the coverage amount meet your needs?
  • Monthly or annual premium payment
  • Claim conditions, claim period and etc.
  • History, reliability, and stability of the insurance companies
  • Comparing prices and offers from each company before making a decision

What diseases does critical illness insurance cover?]

What diseases does critical illness insurance cover?

Diseases that critical illness insurance provides coverage are such as, cancer, heart disease, stroke, kidney disease, cirrhosis, hypertension and diabetes. However, each insurance company may provide different conditions or cover other different diseases. Insurance premium rates vary based on ages and genders. Therefore, buyers should study the details of coverage from the insurance company or insurance agent before making a decision to buy a critical illness insurance policy.

Is critical illness insurance tax-deductible?

Critical illness insurance is tax-deductible. The insured can use insurance premiums to deduct personal income tax as paid up to 25,000 Baht per year. When combined with life insurance premiums, it must not exceed 100,000 Baht per year.

We hope this article has helped you understand what you need to know before buying a critical illness insurance in terms of why you need it, what diseases critical illness insurance covers, where to buy it and what details you should study, to benefit the most from the critical illness insurance that meets your needs and covers your lifestyle behaviors under the budget.

Care Plus takes care of cancer treatment expenses in all stages, covering medical treatment innovations, including targeted therapy, immunotherapy, stem cell transplantation, IPD and OPD treatments. The coverage is 5 million Baht per year, with premium less than 8 Baht per day*.

  • Take care of medical expenses for cancer and chronic kidney failure in every stage for IPD and OPD with coverage up to 5 million Baht* per year.
  • You are able to choose coverage for critical illnesses: cancer or chronic kidney failure. Special! In case of choosing both diseases, premium is reduced by 10%.
  • Cover modern cancer and chronic kidney failure treatments, such as targeted therapy, immunotherapy, stem cell transplantation, online hemodiafiltration and kidney transplantation.
  • The coverage is also provided for psychiatric consultation, room fee, medication expenses and medical expenses since the initial treatment.
  • Don't worry! We also cover recurring disease. The entry age is from 30 days - 80 years, with long-term coverage until the age of 99 years.

Purchase today to enjoy 0% interest installments for up to 6 months or get cashback up to 13%.

More information
☑️ Call Tel. 1766, available 24/7.
☑️ Contact life insurance agent or Kasikornbank branches.

*For male insured aged 35 years who chooses coverage for cancer and chronic kidney failure Plan 5 Million Baht with annual premium payment

  • For the medical expense benefit for a cancer and/or chronic kidney failure treatment, the payment will be made for the treatment specified by the Company.
  • Coverage period of the rider must not exceed the coverage period of the life insurance policy that this rider is attached to.    
  • Premium is eligible for tax deduction. Conditions are as specified by the Revenue Department.
    - Underwriting is subject to the Company’s rules.
  • Conditions are as specified by Muang Thai Life Assurance PCL and the Bank.
  • Conditions are according to the medical standard and necessity.
  • Please study the details of coverage, conditions and exclusions before making a decision to purchase insurance.

Resources: Data retrieved on 04/08/2023

🔖 Urbancreature, data as of 24/01/2023

🔖 โรงพยาบาลเปาโล, data as of 06/02/2023

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