Critical Illness Insurance Policy

What are the main features of a Critical Illness Plan?
A critical illness policy provides coverage for thirty-two life-threatening diseases, along with many other useful features.

Millions of people suffer from life-threatening diseases such as Heart disease, Stroke, Cancer, and Renal diseases, to name a few.

Along with the emotional trauma that they undergo, the financial burden becomes difficult to bear as most of these diseases need long-term treatment and thus the cost factor is very high.

The challenges that they face are sometimes beyond our comprehension. 

Critical Illness Insurance Plans have been devised targeting this segment and prove indispensable at this crucial time.

Critical illness insurance covers around thirty-two illnesses concluding the benefits of the critical illness list.

What are the main features of a critical illness insurance plan?

A critical illness policy provides coverage for thirty-two life-threatening diseases, along with many other useful features.

1. Psychiatric treatment: Besides hurting the physical health of the patient, life-threatening diseases affect mental health as well.

As most of these diseases require a long and sometimes painful treatment, the patient needs regular counseling and psychiatric treatment to help him bear the trauma.

Critical Illness plans cover the psychiatric treatment costs too, which is a great relief for the patient as well as the family.

2. Pre and Post-hospitalization Coverage: The critical illness plan covers all the tests that the patient has to undergo before and after hospitalization.

Organ donor costs and dialysis costs are also covered under these plans. some major hospitals are providing treatments under health insurance policies.

3. Comprehensive Coverage at Low premium: The critical illness plan provides comprehensive coverage at a low premium so that there is a minimum financial burden on the family.

4. Quick Claim settlement: A good critical illness plan provides hassle-free claim settlement options so that the family can concentrate on taking care of the patient instead of worrying and running about for claim settlement.

5. Easy EMI Options: Most of the critical illness plans come with easy-to-pay EMI options that are convenient for the customers.

6. 24X7 support: A team of professionals is available round the clock for any assistance or queries related to the plan.  

People tend to confuse a critical illness policy with a health insurance policy. It is important to understand the difference between the two to avail maximum benefit.

The difference between a Health insurance plan and a critical illness plan

Health insurance policy reimburses the bills incurred on hospitalization due to some medical problem.

Although it covers OPD and medical expenses during the time the patient was admitted to a hospital, there may be some health issues that are not covered under the plan.

Moreover, all the bills have to be submitted and the expenses are reimbursed after they are duly verified.

A Critical Illness plan covers major life-threatening diseases such as kidney transplants, Bypass surgery, cancer, etc.

The best part is that the insured person gets the sum assured as soon as the disease is diagnosed with one of the diseases included in the critical illness list.

Hospitalization is not required to claim the sum assured.

What are the benefits of a Critical Illness Plan?

A Critical Illness plan has its own set of advantages which are:

• Covers Long-term medical procedures: Critical Illness plans cover the treatment of diseases that take a long time to cure and the treatment cost is often exorbitant.
• Lump-sum Tax-free sum assured: The sum assured is handed over to the insured as soon as the disease is diagnosed.
• The process is hassle-free as the insured is not required to submit original or photocopied bills to claim the amount.
• The sum assured is tax-free under section 80D which is an added advantage.

                                            Also Read: How To Stay Healthy ? Without Medicine 

• Cashless Claim Facility: The insured can avail of a cashless claim facility at various network hospitals associated with the insurance company.
• Ne need for Hospitalization: Hospitalization is not essential to claim the sum assured.

Do you or your family need a critical illness policy?

This is a valid question that may arise in your mind. The stress of today’s fast-paced lifestyle is adversely affecting people’s health.

Most of us ignore our health until it deteriorates and results in some major health issues.

A critical illness can happen at any age and to anyone. It is better to take precautions so that in case this happens, you are financially strong to bear the cost of the medical treatment.

A critical Illness plan is especially important for 

• People who have a family history of a specific illness, such as Cancer or Cardiovascular disease.
• People who are the only earning members in the family need to take all precautions as the family may not be able to bear the financial cost in case they are diagnosed with a critical illness.
• You become more susceptible to certain diseases after a certain age. It is advisable to purchase a critical illness plan to stay safe.

Care Insurance understands the needs of its customers and has a variety of critical illness insurance policies to suit every need.

Consult one of the customer care executives who will guide you about the options best suited to your needs.