It is very common for health insurance companies to launch new products day in and day out. Many a times even existing health insurance products are modified. This is how policyholders can benefit out of a health insurance plan because more and more policies are made as per their specific health conditions to meet the expenses for getting the medical treatment done.
A disease-specific plan is a health insurance plan that provides compensation in case you get diagnosed with one particular ailment. Say for instance, you opt for a Cancer care plan, you will get compensation in case you have been diagnosed with cancer, at any stage. Your insurance company will provide you the health cover that you can use to get the best possible treatment.
Mentioned below are the benefits of the disease-specific health insurance plans:
Just like the advantages, there are certain disadvantages too associated with these plans. Firstly, the coverage is limited. In a critical illness plan usually about 20 illnesses are covered. But, disease-specific plans can cover only one disease at a time. In short, if you get diagnosed with any other type of critical illness, unfortunately you won't get any coverage and compensation. There are also chances of incorrect selling and purchasing of these plans. You cannot just blindly buy a plan. It is necessary to be alert, understand the plan and then make a purchase. A disease-specific health insurance plan is purchased for a specific health risk you may feel you are exposed to. So weigh the situation, the plan and your needs first. People usually buy one without planning and understanding which stands as the biggest drawback.
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