Five frequently asked questions about critical illness insurance

Plan your life ahead to avoid uncertainties relating to your health

Very few people in Bangladesh have adequate financial preparation for serious illness. Most of the people who get life insurance policy here, focus more on the financial return rather than health coverage. One can get critical illness insurance coverage to lessen the burden of expenses incurred from treatment of such unforeseen health conditions.

What is critical illness insurance?

Many critical health conditions which used to be considered as fatal ones previously can now be treated; in some cases, cured. The cost of diagnosis and treatment can put a dent in your savings account if you are not prepared. Health insurance can be a big help in covering such medical expenses, but health policies often come with high premium structure, and don’t cover other related expenses. Critical illness insurance can help you with such medical coverage and address the financial consequences of certain covered conditions.

What conditions are covered under critical illness coverage? 

Health conditions that qualify as a critical illness can vary among insurance companies. Keeping in mind the most occurred health issues of Bangladeshi nationals, MetLife has designed its Critical Illness Insurance with Return of Premium Super (CI ROP Super) plan which covers the below health conditions:

  • Kidney failure
  • End stage liver failure
  • Stroke
  • Cancer (excluding skin cancer)
  • First heart attack
  • Coronary artery surgery
  • Serious coronary artery disease
  • Heart valve surgery/replacement
  • Pulmonary arterial hypertension (primary)
  • Benign brain tumor

What expenses does your critical illness insurance cover?

Most critical illness insurance policies let you to spend the proceeds to treat your health condition at your own discretion. MetLife Critical Illness Insurance with Return of Premium Super covers the diagnosis and surgery expenses of the above listed conditions. In case of death due to a covered critical illness the beneficiaries of the life policy holder get the coverage amount. In case of death other than a covered health condition, the beneficiaries get significant coverage amount as well.

 

How are critical illness insurance benefits paid?

The process of paying the benefits for critical illness differs from company to company. However, most insurance agencies in Bangladesh offer a lump-sum amount to be paid to the insurance policy holder upon diagnosis of a covered condition.

 

Should I buy critical illness insurance? 

This is important for you to plan and ensure your financial solvency while looking for yourself at the same time. A health policy can not only save your hard-earned money but also provide you with support during any unforeseen critical illness. You can discuss your need for critical illness insurance policy with the financial associates of MetLife and choose the best insurance policy if you want a sound and certain life ahead.