Categorized | Health Insurance

things you should know before buying a critical illness insurance plan

As the Term indicates, a Critical Illness insurance plan is meant to provide cover against critical illnesses. However, one should be aware that these plans provide a cover against a few pre-defined illnesses only. It is definitely a type of Health Insurance but quite different if we take a look at the nature of benefits it provide. This is why, it is very important that one is aware of the kind of modalities involved in buying this type of health cover.

Top considerations before buying a critical illness plan

Illnesses covered under the plan

Critical illness plan provides you protection against major life threatening diseases. Generally, it covers illnesses such as cancer, open chest coronary artery bypass surgery, open heart valve replacement of repair, heart attack, kidney failure, major organ transplant, stroke, paralysis,   liver disease, lung disease, fulminant viral hepatitis, muscular dystrophy, bacterial meningitis, motor neurone disease and even condition like major burns. Yet, what is covered and what is not can vary from company to company.


Besides the illnesses covered under the plan, you also need to know that the critical illness should be diagnosed by a registered medical practitioner. All the evidences like histological and radiological reports should be mandatorily submitted with the application of claim. Furthermore, these laboratory evidences and diagnosis documents are approved by a registered medical practitioner appointed by the insurance company. However, the Claim procedure would be forwarded only if the Insured is alive for 30 successive days after the diagnosis of the critical illness.

Regular Health insurance plan v/s stand-alone critical illness plan

Many people reason that they have basic health Policy and they do not need critical health plan. However, the fact is that health insurance does not provide critical illness cover which can brush off all their savings at once. Another reason for why critical illness plan is a beneficial one out of two is that it will provide the entire sum Assured once critical condition is diagnosed. And, you can plan to utilize this amount in any manner you want and it necessarily need not be spent only on illness.
How to make the final decision?

With large number of insurance policies available in the market, it is becoming increasingly difficult for people to arrive at a decision. Dealing with agents is even more difficult. Most of the times, one is not provided with a complete picture of the nature and benefits provided under a policy and this way many people end up buying a policy which fulfils vested interests of an agent than their genuine requirements.
The best way to overcome this issue is to opt for online resources. It is quite easy to pull out the relevant information from web portals and one can even select and compare insurance Premium from various options in a few seconds. It saves a lot of time and energy otherwise wasted in digging and filtering the information. It is not restricted to derive information and compare policies, but one can also buy policies through an online transaction. Given the sheer number of advantages, a large number of people are now preferring online modes over the traditional ones to get health insurance. For example, many times web portals provide additional discounts and privileges which are not usually available with the agents.