Unique Content Article: Insuring Yourself Against Serious Sickness - Dread Disease Insurance

Insuring Yourself Against Serious Sickness - Dread Disease Insurance

by Anthony Hilton

With the inevitability of sickness and death, many of us nowadays seek to protect ourselves and family financially in the future. To accomplish such, a number of people apply for insurance policies. With life insurance, for example, a policy holder pays a specified amount of money at regular intervals or in lump sums in exchange for a sum of money which will be received by a designated beneficiary upon death, or depending on the contract, upon diagnosis of terminal/critical illnesses, of the insured person. Another example of an insurance policy that covers only heavy illnesses is dread disease insurance.

Founded on October 6th, 1983 by Dr. Marius Bernard, the dread disease type of insurance originally covered four types of dreaded diseases: heart attack, stroke, cancer, and coronary artery by-pass surgery. Nowadays, some companies over the world cover at most 161 types of illnesses and this type of insurance targets high net worth individuals and company employees of huge businesses.

With the occurrence of a heavy illness that is covered by the dread disease insurance, the policy holder is immediately given by the insurer the specified amount of money agreed upon in the contract. This lump sum amount is instantly given after a clear diagnosis by a certified physician, as opposed to other types of insurance like the inability to work insurance. This immediate availability of funds is tremendously significant to the insured as the money may be used for payments for costs of treatment and care, recuperation aid, etc.

But just like any other insurance policies, potential applicants are also being assessed for risk in with the dread disease insurance. Using an underwriting process, possible customers' age, gender, lifestyle, past medical and family history are being evaluated to verify whether they will be charged a standard rate or if any additional fees will be necessary.

Also, the same with any insurance types, there are disadvantages with the dread disease insurance. First among this is that illnesses brought about by accidents are not covered. As such, despite any contributions, no payouts will be given in the event of an accident. Moreover, even though targeted market of this type are the high net worth individuals and those who work on huge companies, diseases that usually occur after separation from company such as back pain and other complications on movement are not covered.

This type of insurance may have its own disadvantages, nevertheless there are still number of advantages that you can get out of it. Today, being practical is very important and keeping yourself and your family insured is being practical. Securing your future may not harm you, just remember to have an open mind on selecting which one is good for you.

The writer is a German Hotel Chain Magnate who is the owner of several hotel chains across the globe. With his heavy schedule, despite his large income, he sees to it that he is protected financially against critical illnesses. As such he has bought different insurance policies like a <a href="http://www.dread-disease-versicherungsinfo.de/">Dread Disease Versicherung</a>.

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New Unique Article!

Title: Insuring Yourself Against Serious Sickness - Dread Disease Insurance
Author: Anthony Hilton
Email: andrew@dourdou.com
Keywords: insurance,health,Dread Disease Insurance,Dread Disease Versicherung,diseases,illnesses,finance,family,parenting,health insurance,advice,medicine,investing,home,seniors
Word Count: 450
Category: Insurance
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