Critical Illness Insurance: All You Need To Know About It

Critical Illness Insurance: All You Need To Know About It

A good is both – a blessing and a conscious effort made to stay healthy. This effort is a combination of eating right, exercising and making the right financial decision too. Regular health insurance can cover you for all the basic health requirement. However, health insurances can only provide you with basic health requirements. For more serious illnesses such as cancer, critical illness insurance is a health cover you should consider. In this article, let’s take a look at all the facets of critical care insurance.  

What is a critical illness plan? 

A critical illness plan is predominantly a health cover which offers to help you with financial in case you are diagnosed with any life-threatening disease. 

Why should you consider buying critical illness policy?

Critical illness insurance offers you a necessary financial coverage in case of a sudden life-threatening disease. This insurance is a good option for those who are the bread-winners of the family.

Should you buy standalone critical illness plan vis-à-vis rider?

When it comes to buying a critical illness policy, it can be bought as a standalone policy or this policy can be taken as an add-on rider. You can add it as a rider on a regular health insurance policy. But, a standalone policy is more lucrative than critical insurance as a rider. The standalone critical illness insurance allows you to have comprehensive coverage of ailments and the costs. But, when opted as a rider, it may not offer you all the benefits of it. 

Which illnesses and treatments does the policy offer a cover for?

Some of the illnesses and treatments which are covered under the critical illness policy are:

  • Cancer
  • First Heart Attack
  • Coronary Heart Disease
  • Heart Valve Surgery
  • Surgery to Aorta
  • Stroke
  • Kidney Failure
  • Aplastic Anaemia
  • End-Stage Lung Disease
  • End-Stage Liver Disease
  • Coma
  • Major Burns
  • Major Organ/Bone Marrow Transplant
  • Multiple Sclerosis
  • Fulminant Hepatitis
  • Motor Neuron Disease
  • Primary Pulmonary Hypertension
  • Terminal Illness
  • Bacterial Meningitis
  • Exclusion from Policy

What is not covered by the policy?

Critical illness insurance may not cover:

  • Any pre-existing medical conditions
  • Any diseases which were diagnosed at the inception of the policy
  • Any medical treatment which required for any criminal act
  • Any treatments which are received overseas
  • Any hospitalization cost which are incurred within a certain period of inception of the policy
  • Any treatment for the diseases which are otherwise covered under the policy. 
  • All the illnesses which are not mentioned in the policy.