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Critical Illness Insurance

Critical policies are known as fixed benefit policies. The sum assured is disbursed in full whether you are availing treatment at hospital or recuperating at home. As critical may result in your loss of income, hence this policy is designed in such a way that you can take care of your day to day expenses by using the fund disbursed.

In indemnity policies you get reimbursements against the total expenditure incurred up to the extent of your sum assured. It basically takes care of your medical expenditure only and does not provide your fund to manage other expenses.

Types of ailments covered under critical illness

The list of ailments may vary for different insurance providers. However, the general ailments covered are:

  • Heart Attack
  • Bypass Surgery
  • Kidney Failure
  • Cancer
  • Stroke
  • Organ Transplantation
  • Paralysis
  • Multiple Sclerosis
  • Total blindness
  • Coma

Benefits of Critical illness cover

  • Disbursal of fixed amount on diagnosis of critical illness
  • Takes care of income loss
  • Helps in paying off other financial liabilities
  • Funds lifestyle changes post ailment

Facts to know before selecting critical illness cover

  • Most of the policies come with a survival period clause. As per this clause the insured should survive the unhealth for minimum 30 days before filing a claim.
  • The list of ailments covered under critical cover may vary from provider to provider. Do check the ailments covered in order to have a clear picture.
  • Some critical cover plans would consider disability arising from accident and some may not. Hence, be very sure of the inclusions and exclusions.
  • The claim process may vary for different providers. It is always good to check the claim process and disbursal history before selecting an insurance provider.

Critical cover plan basically would prove to be a savior as the cost of treatment is so high. Critical illness not only fractures your health but also your financial condition as it may even result in loss of income. You family liabilities and your cost of treatment can be very well taken care of if your plan prudently and take a critical insurance cover.