What lurks beneath

It lurks in the shallow depths. Without warning it breaks the surface. As the serrated line of razor-sharp teeth in the gaping jaw open and close on the unsuspecting victim, blood curling screams rent the air. There is no help at hand. Within minutes, the great white takes the victim underneath the waves, leaving no trace behind - except for the pools of blood....

In 1975, the Hollywood movie “Jaws” was released in the summer. The impact of the man-eating shark in the movie was such that Americans feared to venture into the sea wary of shark attacks. Beaches started wearing a deserted look. An irrational fear of death or dismemberment due to shark attacks was created in the average American’s mind, as a result of some heavy-duty marketing, expert movie footage and a bestselling book that preceded the movie’s release. Steven Spielberg an inexperienced director then, weaved technique and storytelling to create a blockbuster hit that left an inedible impression on the minds of Americans. Such was the fear of the great white shark, that many feared death by shark attack a greater probability than other causes of death. However, if we stick to the facts, worldwide deaths due to shark attacks are less than 100 a year which are insignificant compared to other causes of death in humans.

So, what are the leading causes of death worldwide?

It’s not terrorism, nor natural calamities, nor communicable diseases which are the leading cause of deaths globally. It’s not even shark attacks. Cardiovascular disease (CVDs) or heart disease is the leading cause of death globally, accounting for over 18.56 million deaths each year and representing over 33% of all global deaths as per WHO. This statistic highlights the need for individuals to take proactive steps in managing their health and protecting themselves financially by obtaining insurance cover to address the financial impact of CVDs.

CVDs

CVDs encompass a group of disorders that affect the heart and blood vessels, including heart attacks, strokes, and other related conditions. Major risk factors for CVDs include tobacco use, unhealthy diet, physical inactivity, high blood pressure, diabetes, and obesity. While some of these risk factors are modifiable through healthy lifestyle choices such as quitting tobacco use, adopting a healthy diet, engaging in regular physical activity, managing blood pressure and diabetes, and maintaining a healthy weight; there are circumstances where medical intervention may be necessary.

The financial impact of treating CVDs can be substantial, especially in countries with limited healthcare infrastructure and high medical costs. In low- and middle-income countries like India, where over three-quarters of CVD deaths occur, the financial burden of managing CVDs can be overwhelming for individuals and their families. This is where having appropriate medical insurance cover can play a crucial role in the treatment of CVDs.

How insurance can help

Medical insurance cover for CVDs typically includes coverage for hospitalization expenses, diagnostic tests, surgeries, medications, rehabilitation, and other related treatments. Having such insurance coverage can provide financial protection and peace of mind for individuals facing the financial burden of managing CVDs. It can help individual’s access quality healthcare without having to deplete their savings or go into debt, ensuring that they receive timely and appropriate medical treatment.

In addition to financial protection, medical insurance cover for CVDs may also offer other benefits. Some insurance plans may include preventive health check-ups, which can help individuals detect and manage risk factors for CVDs early on, leading to better health outcomes. Insurance providers may also offer wellness programs or health management tools that can assist individuals in adopting healthy lifestyle choices and managing their health effectively.

Critical Illness and Disability insurance

It is important for individuals to carefully review the coverage, benefits, and exclusions of medical insurance plans which include cover for CVDs. Factors such as premiums, deductibles, co-pays, and coverage limits should be considered when selecting an insurance plan. It is also crucial to disclose any pre-existing conditions or risk factors for CVDs when applying for insurance to ensure that the coverage is comprehensive and meets the individual's needs. One of the side effects of CVDs may be paralysis, Critical Illness and Disability insurance can help provide financial support if you become disabled and are unable to work due to CVDs. Total Permanent Disability (TPD) insurance cover can support your family and loved ones in such adverse times. In the state of paralysis, the patient requires extra attention, and thus, loss of income is another financial hiccup. While a standard health insurance policy does not cover paralysis treatment, you need to buy critical illness insurance for it. Critical illness and disability coverage can replace a portion of your income if you've had an accident which led to disability or you've been diagnosed with a critical illness like CVDs

Term Insurance

In addition to obtaining medical insurance cover to manage the financial impact of treating cardiovascular disease (CVDs), it is equally important to consider the need for life insurance cover. CVDs, such as heart attacks, can unfortunately result in untimely deaths, leaving behind a financial burden for the bereaved family.

The sudden loss of a loved one due to CVDs may have significant financial implications, including outstanding debts, loss of income, and ongoing financial responsibilities. In difficult times, having life insurance cover (more specifically term insurance) can provide much-needed financial mitigation to the bereaved family, helping them cope with the financial challenges that may arise.

Term insurance typically pays out a lump sum amount, known as the death benefit, to the beneficiaries named in the policy upon the death of the insured individual. This death benefit can be used by the beneficiaries in any way they deem necessary, including covering paying off debts, replacing lost income, and meeting ongoing financial needs such as mortgage payments, education expenses of children, and daily living expenses.

In conclusion, careful consideration and selection of appropriate medical and term insurance cover can provide peace of mind and financial security for your family in the face of unforeseen circumstances such as CVDs. Unfortunately, what lurks beneath the surface often comes as a surprise when it comes to our health, therefore insurance matters.

Source: WHO

Author: Ashish Joseph George, MMS, CFP with some help from AI. The views shared in this article are my personal views and don’t reflect the views of any organization. This is not an investment advice.