In
2014, the Ebola outbreak brought the African continent and most of the world to
their knees. Although the virus had been in existence since 1976 throughout the
world, but we were all unprepared for its death toll.
Today
we face even the deadlier Coronavirus and once again, the Governments of the
world were not prepared, thus history has repeated itself. In a bid curtail the
spread many countries have closed their borders and commenced nationwide
lockdowns. These actions have negatively affected the global economy on a large
scale, while it has led to so many persons suffering untold critical illnesses.
It is
common knowledge that failing to plan is planning to fail, so at difficult times
like this, taking more pro-active measures or decisions about our lives is more
imperative than ever, and one such measure is taking out Critical Illnesses
Insurance
Why
buy Critical Illness Insurance?
Have
you ever thought about how your life would change if you are diagnosed with a
life-threatening illness? What if you were diagnosed with Cancer today, or had
a heart attack tonight? Or a stroke while at home? Where would the money come
from to receive treatment? Who would take care of your kids? or tend to your
household/family responsibilities?
How
would you supplement your income because you cannot work? How would you feel
having to tap into your savings or your child’s school funds to pay for the
bills and pay for your treatment?
When a
person is diagnosed or faces such a tragic illness, they often go into survival
mode. However, it is better to plan for this than to have the self -denial mentality
of “this won’t happen to me” because you are afraid of the worst.
The
National Cancer Control Program (NCCP) advises that 1 in every 2.5 women and 1
in every 2.2 men will have some form of cancer in their lifetime. Available
statistics from the Canadian Cancer Society (CCS) indicates that 1 in 9
Canadian women will be stricken by breast cancer in her lifetime and in every 4
minutes a Canadian is diagnosed with cancer.
In
Nigeria, the number of new cancer cases is projected to increase by 50% in the next
20 years. Heart attacks cost the Nigerian economy over 10 billion Naira every
year in medical services, hospitalization expenses, loss of income and loss of
productivity.
The
Importance of Critical Illness Insurance
Critical
Illness Insurance attempts to fill in the gap between life and disability
insurance. While disability policies cover lost employment income due to an
accident or illness, Critical Illness Insurance Policies pay a lump-sum
tax-free benefit when one is diagnosed with a serious, life-altering illness or
condition, and survive a certain number of days.
Conditions
currently covered in Nigeria include:
Heart
attack, Stroke, Cancer, Kidney failure, Paralysis, Blindness, Coma, Loss of
speech, Heart Valve Replacement, Loss of independence etc.
Pre-existing
conditions are covered after 6 months of taking the policy; however, they are
not covered from the inception of the policy.
We at
IBN are concerned about your future peace of mind and prepared to guide you to
procure excellent Critical Illness Program.
If you
have any questions or further clarifications about Critical Illness Insurance
in Nigeria, please call Dennis on 07051092576 or reach out to us through our email:
info@ibn.com.ng.