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Know all about the term insurance plan to cover organ transplantation costs in India and why you should buy one to secure your future financially.
Life is unpredictable indeed. One moment we’re healthy, hale and hearty. And the other, we’re unsure of what life can throw at us any minute. Our organs may stop working smoothly or we might be diagnosed with a critical illness or health condition. As distressing as it may sound, this is the harsh reality of life for which it helps to prepare in advance. This is why buying term insurance for organ transplantation is a wise choice, helping you be financially prepared for future uncertainties and the costs that they may accompany.
Here we discuss the need for organ transplantation, how term insurance can help in the process, and the benefits of buying a term insurance plan at the right time while you’re still in good shape.
Each organ of our body has a vital function to perform and any imbalance in the working of any one of them can create some serious problems in the body’s smooth functioning. For instance, if the kidneys’ role is to throw out waste from the body and if one or both the kidneys fail functioning, this essential role comes to a disturbing halt. Without waste excretion, all the toxic substances get deposited in the body and hamper its working, resulting in other critical ailments.
In the event of failure of normal organ functioning, and considering that each organ needs to keep running to make the entire body work, organ transplantation is considered as an option. The process has found immense popularity in India with a number of successful cases reported in a large number of people.
During the medical procedure of organ transplant, the specific organ of the body that is not functioning to its best capacity and requires replacement is taken from another body of a donor. The organ donor may be dead or sometimes even living (such as in the case of kidneys, where the donation of one kidney may be possible).
This healthy organ from the donor is then surgically transferred to the recipient patient’s body. However, note that for the procedure to be a success, both the donor and the patient (recipient) should display compatibility for organ transplant. This can be determined by running a few tests on both the parties involved before the procedure.
Term life insurance provides financial coverage for the organ transplant procedure, considering that it can be immensely expensive and harsh on the patient’s pocket. The cost incurred on the transplant can be covered under the critical illness cover of the term life insurance policy.
The critical illness rider in term insurance is an add-on benefit to the base term insurance policy, which can be purchased at an additional nominal payment. The benefit of attaching this rider to the base plan is that it helps extend the financial coverage of term insurance. This means that in the unfortunate event of the policyholder being diagnosed with critical illness or life-threatening diseases, the critical illness cover of term insurance can help cover the expenses incurred on the treatment. The treatment of such conditions is generally longer with huge costs involved in the process. Hence, buying this cover helps.
As stated above, the critical illness cover is designed to provide financial coverage for the treatment of longstanding critical ailments which may involve a huge expenditure as well. Organ transplant is one such expensive process, involving both pre- and post-hospitalization costs. Here are some benefits of buying the critical illness rider for organ transplantation:
There are essentially 3 options available with the buyer of the critical illness rider benefit when it comes to receiving the coverage amount from the insurer:
Organ transplant is a critical medical procedure involving a huge expenditure for the patient and their family in the treatment process. The term insurance policy helps via its critical illness cover rider, which can be purchased as an add-on benefit to the base plan at nominal premium rates. To look for the best term insurance plan with the maximum rider benefits, look up PayBima online and secure the financial future of your loved ones at the earliest.
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