Why You Need Dread Disease Cover
There are a number of elements to consider when looking at life assurance quotes and one of those to research is why you need dread disease cover and the importance of life assurance.
Diseases threatening your life
Serious, or dread, diseases tend to strike without any sort of warning. They may be in the form of a heart attack or cancer. Maybe you an organ transplant. Or perhaps the loss of hearing or eyesight.
In some instances you might not be considered medically unable to continue work which means you might not be able to claim disability cover. Of course it is at times like these that you need the extra cash. So that is why it is important to consider things like life and insurance.
So we’ve answered the question “what are chronic diseases?” But what expenses would dread disease cover need to provide for?
Your basic expenses
First of all, basic expenses like home loans and car installments should be provided for. Additionally an extended convalescence period ought to be taken into account.
In some instances it may benefit a person to take longer bed rest. That, as opposed to going back to work too soon. That would slow down the recovery process. Some dreaded diseases can leave patients uninsurable for a number of years or permanently. Dread disease cover therefore provides for the possibility of being unable to obtain further insurance. That would be for security for things like education and bond repayments.
Dread disease cover
There is a great possibility that a dread disease could shorten a person’s life expectancy or their remaining number of working years.
Dread disease cover therefore might enable help with prioritizing your life and you could be able to look at slowing down business activities, going on more holidays and spending time with your family. The cover could allow for overall improvement of quality of life.
There are additional expenses that dread disease accounts for should you be hospitalized such as child care, transportation and various other homecare duties.
Cover for travel expenses that may be encountered from having to go for treatment or for family members visiting you are taken into account too.
Some schemes do pay 100% of the majority of dread diseases that they cover. Dread disease cover is different to the definition of “what is life cover?” Life cover pays out a sum in the event of the policy holder’s death.
There are four particular diseases that fall under the category of dread disease, namely, cancer, heart attack, multiple sclerosis and stroke.
Since medical technology and research has come a long way it is no longer a case of surviving the illness, but rather a question of being able to afford to be ill.
Professionals claim that there are two main causes of dread diseases being lifestyle and genetic make-up. Lifestyle factors can include stress, dietary habits and sedentary working environments.
Genetic factors are less specific. The costs incurred from a dread disease – and not only the medical costs – all need to be taken into consideration when considering why you need dread disease cover.