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Given the unpredictable nature of Covid, the rapid evolution of new and more dangerous variants, as well as long-term complications associated with it, what if the predictions of a third wave come true? Would you be financially prepared to deal with another round of Covid?
How to be financially ready for a serious illness
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Synopsis
If you are over 40 and have a family history of such illnesses, you need to prepare a financial plan on priority. In the third part of this new series on special situations, ET Wealth explains how to prepare yourself and your family for a critical illness, chronic or terminal.
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While it may be impossible to prevent the emotional trauma, being financially prepared can help the family.
When someone is diagnosed with a critical illness, be it cancer, a disease related to kidney, liver or heart, or even Covid-19 in the current scenario, the suffering is not limited to a single person. The entire family is affected in more ways than one, the immediate shock of affliction followed by the prospect of dealing with it, emotionally, physically and financially. The illness triggers a search for the right treatment in the best institution and a scramble to arrange for funds as the full scope of medical costs b
All you wanted to know about co-payment
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Most of us buy a health insurance policy to avoid shelling out money to settle unaffordable hospital bills during a medical emergency, such as a Covid-19 hospitalisation. But while we may assume that we’re fully covered by our health policy, there are situations when we may have to bear part of the bill. One such situation is when your health policy has a co-pay clause. This clause, which is often buried in the fine print, must be evaluated at the time of purchase to avoid burning a hole in your pocket.
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›Porting to new health insurer: When to leave existing insurer, what the move entails, when you can t shift
Porting to new health insurer: When to leave existing insurer, what the move entails, when you can t shift
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Porting to new health insurer: When to leave existing insurer, what the move entails, when you can t shiftBy
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Synopsis
You may want to move to a better insurer, but it is not necessary that your application will be accepted by the new insurer. Find out when you should leave your existing health insurer, what the move entails and under what circumstances you may not be able to shift.