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Critical Illness Insurance
  • Free Health Check Up
  • Benefit of Tax Under 80D
  • Pre-Existing Disease Cover
  • Flexibility in The Sum Insured
  • Life Long Policy Renewal Benefit

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Critical Illness Insurance

Health Insurance is a necessity in today's world. Nothing is certain in life; we have no control over accidents or health problems in life. Insurance policies are must have in uncertain circumstances of the fast life. Common men earn every penny after toiling themselves in the scorching heat and adverse weather. One medical report with positive news about some critical disease may result in the flow of money like water in just one go.

Medication, hospitalization, test bills, and treatment cost cause hole in the pocket of the customer and its results in boundless stress that results in further serious of various diseases and emotional, social and economic breakdown of the customers This is the time when we realize that health insurance is a necessity for you and your dear and near ones.

Health insurance provides a cover for free medical check-ups, cashless medical treatments, and there is a wide range of different policy covers provided under the same. But, even if one owes a health insurance policy, any critical illness shakes the person and family from the roots because there are so many complications in critical diseases that are not covered under the normal health insurance policy and for them, special Critical Illness Insurance Policy is needed.

Health Insurance also provides cover for critical illness, but the sum insured in the same is very limited and that is why a separate sum insured amount is needed to meet the need of heavy medical treatment expenses. Some critical diseases are hereditary transferred from one generation to another, and while some are born out of our unhealthy daily life routines, the critical illness like Cancer or any other disease diagnosed is enough to devastate the life of a common man for always.

Importance of Critical Illness Insurance

By buying a critical illness plan, you don't need to rely on any other person for your illness and expenses of its treatment. The critical insurance plan is a right choice as it provides coverage when you are seriously ill and don't have savings to clear the medical bills and related expenses. The money which you get from critical illness insurance will help you in clearing medical bills, home modification, and many other things.

This is very important too, but Critical Illness Insurance Policy as any life-threatening illness can shatter all dreams of a normal man, and it can spoil all future planning of customeRs After saving money bit by bit with all hard work and planning, spending all of it on the medical bills and in hospitals cannot be justified. No matter if the person suffering from the disease is cured after efforts and best treatment, with the end of emotional trauma, the financial burden on the shoulder of family and the person who was handling the expenses during the treatment will never let them sleep in peace and it results in a chain of the financial crisis.

Critical Illness is a severe health condition that has a rewindable effect on the life of an individual, and it requires a vast amount of money to treat the same. Nowadays, it is very easy to diagnose the disease at an early age only. Critical illness can be cured that easily as they need to be treated with costly technology, and there is the investment of lump sum of capital for the same.

Some of the most common critical illnesses covered under the Critical Illness Insurance Policy are as follows

  1. Heart attack
  2. Cancer
  3. Major Organ transplant
  1. Blindness
  2. Stroke
  3. Terminal illness
  1. Bacterial Meningitis
  2. Motor Neuron Diseases
  3. Deafness

One should buy a Critical Illness Insurance Policy if he or she do not have any saving and security for any major health disease or if your company does not provide you any employee benefits package than they should buy a Critical Illness Insurance Policy for sure. Different insurance companies provide different covers so one should read the policy terms carefully before settling down for an insurance policy.

Features of Critical Illness Insurance

Benefit of Tax

The premium amount paid for the Critical Illness Insurance Policy is covered under the tax benefit as per the section 80D of Income Tax act.

Guaranteed Life Long Policy Renewals

No maximum cover ceasing age is mentioned in most of the Critical Illness Insurance Policy so; one is eligible for the policy from 8 years to 70 years.

Flexibility in the Sum Insured

The policyholder can choose the sum insured as per the need and requirement and seriousness of the disease. If the policyholder does not claim the insurance policy, then the sum insured can be enhanced during the renewal of the policy plan.

Portability of the Insured Plan

While the policyholder is renewing the policy, there is an option to migrate the existing health insurance plan.

Add-on Features

The policyholder can avail a 5% renewal premium each year. One can also get a reimbursement of 50% or more than that of the medical examination expenses if the policyholder proposes the idea to the insurance company and they accept it.

Pre-existing Disease Cover

Pre-existing disease are excluded from the Critical Illness Insurance Policy, they are only included only after the completion of four continuous renewals from the initial starting date of the insurance policy.

Types of Critical Illness Insurance Policy

There are various types of Critical Illness Insurance Policies; one can choose from many options, such as

Individual Critical Illness Insurance Plan

The Individual Critical Illness Insurance Plan is the policy for an individual. All the plan benefits will be offered only to an individual, and if you want to insure your family, you can buy an individual plan for each member of the family after paying the separate premium amount

Family Critical Illness Insurance Policy

Family Critical Illness Insurance Policy covers the complete family in a single premium amount paid. One big sum is insured for the family cover; the amount is adequate for the entire family. All members are covered in the plan and can claim using the single sum insured.

Critical Illness Insurance Policy provides only a one-time fixed benefit and policyholder should claim the policy when the situation is out of the hands, and the treatment cost of the critical illness is very high. If the policyholder is diagnosed with the critical illness in the tenure if the Critical Illness Insurance Policy then the policyholder will get the full amount insured. But, the policyholder should check the terms and conditions of the policy that after that will the other further benefit of the insurance policy will be ceased till the time Critical Illness Insurance Policy is renewed.

Critical Illness Insurance Policy is beneficial for the policyholder as it not only covers the hospital expenses and the treatment but also helps the customers to pay the overdue debts and the policyholder to recover some of the lost income of the family due to illness.

Best Critical Illness Insurance Plans in 2019

Bharti AXA Smart Health Critical Illness Policy

This plan offers coverage to an individual post first diagnosis of critical illness. Mentioned below are the features, benefits, and coverages of this critical illness cover

Plan Variants

Bharti AXA SmartHealth Critical Illness Insurance Policy offers two variants. They are as follows

  • On diagnosis, the plans pay for the treatment of critical illnesses.
  • Pays compensation after survival for more than 30 days post diagnosis of critical illnesses.

Features and Benefits

  • Offers daily cash benefit for claims under Section I of the policy. With this benefit the insured is eligible for daily cash as follows:

Dreaded disease recuperation cover- In case you are diagnosed with any critical illness that is listed under this policy (list mentioned below), daily cash of Rs 500 per day up to a maximum of 45 days would be provided.

Hospital daily cash allowance- This insurance plan offers hospital daily cash allowance benefit that enables you with an allowance of Rs 750 per day for a maximum of 30 days, in case the hospitalization exceeds 3 days.

  • This plan also offers a benefit to the person accompanying the insured by offering Rs 250 for a maximum of 10 days.
  • This plan does not have a limit over room expense cover as well as co-pay option.
  • This plan provides a premium discount of a minimum 5% up to a maximum of 25% for each unclaimed year. However, once you register a claim, this cumulative discount is reduced to zero.
  • Offers pre-hospitalization expense for a maximum of 30 days and a maximum hospitalization for a maximum of 60 days.
  • Offers reimbursement of 50% of the amount spent on pre-policy health check-up.
  • Offer coverage for ambulance charges up to Rs 2,500 for transportation to and from the hospital.
  • This plan offers the cost of treatment for the organ if there is a need for major organ transplant for the insured.
  • This plan offers coverage for claims under Section I of this policy. Convalescence benefit up to Rs 12,500 post hospitalization is offered if it exceeds 8 days.
  • This plan offers coverage for in-patient physiotherapy up to 2% of the sum insured.
  • This benefit is provided under Section I of Smart Health Critical illness plan in the case of death of the insured due to critical illness covered under this policy. An allowance of up to Rs 5,000 for a maximum of two dependent children up to age 23 years pursuing education is provided.

Survival Period

30 days

Waiting Period

  • To claim for benefits under any Section (Sec. I or Sec. II), a waiting period of 60 days after commencement of policy is applicable. However, this period is waivered off after timely renewal.
  • Pre-existing conditions are covered only after 4 years of continuous coverage.
  • Specified illnesses have a waiting period of 2 years applicable in this plan.

Coverage

  • Offers coverage for hospitalization expenses
  • Offers coverage for daycare treatment
  • Offers coverage for pre and post hospitalization expenses
  • Offers coverage for domiciliary hospitalization
  • Covers pre-existing diseases post 4 continuous policy renewals

The Policy covers 20 Critical Illness mentioned below

  1. First heart attack
  2. Stroke
  3. Cancer
  4. Kidney failure
  5. Major burns
  6. Coma
  7. Terminal illness
  8. Bacterial meningitis
  9. Organ/bone marrow transplant
  10. Fulminant hepatitis
  1. Multiple sclerosis
  2. Surgery to aorta
  3. End-stage liver failure
  4. Coronary artery disease
  5. Aplastic anemia
  6. End-stage lung disease
  7. Primary pulmonary hypertension
  8. Heart valve surgery
  9. Coronary artery bypass surgery
  10. Motor neuron disease.
FACTORS MINIMUM MAXIMUM
Coverage (Rs) Rs 2 Lakh Rs 5 Lakh
Policy Period 1 year 1 year
Entry Age 3 months 55 years
Renewable till Age - 65 years

Exclusion

  • Doesn't offer pre-existing diseases and related conditions for the first 4 years since the inception of the policy
  • AIDS, HIV and related diseases
  • Psychiatric and mental/stress disorders
  • Any treatment is undertaken post consumption of alcohol or drugs
  • Unani, cosmetic, aesthetic, Naturopathy, plastic surgery treatments
  • Congenital Diseases
  • Unrecognized or experimental treatment.

Religare Care Insurance Policy

The critical illness insurance cover offered under Religare Care Insurance Policy along with an array of benefits is mentioned below. Let's have a look at them

Features & Benefits

  • Offers coverage for around 170 procedures needs you to be hospitalized for 24 hours a minimum in case you want to register a claim.
  • Offers the no-claim bonus that is equal to 10% of the basic sum insured up to a maximum of 50 % is available. However, the moment you register a claim, the bonus amount is reduced by 10% of the sum insured.
  • Offers additional no-claim bonus as an option that will provide an additional bonus which would be equal to 50% of sum insured. Thus, the total no-claim bonus would also increase to 60% of the sum insured up to a maximum of 100%. However, this would also reduce the bonus amount to 60% post registering any claim.
  • Offers organ donation covers in case of any expenses related to organ donation in the range of Rs 50,000 to Rs 3,00,000.
  • Offers 30 days pre-hospitalization and 60 days post-hospitalization
  • Offers restore benefit that is equal to 100% of the sum insured.
  • Room rent limits which are equal to:
    1. 1% of the total sum insured between Rs 3 lakhs and Rs 4 lakhs
    2. Single private room for sum insured between Rs 5 lakhs and Rs 10 lakhs
    3. Single private room upgradable to next level for a sum insured between Rs 15 lakhs and Rs 60 lakhs

Eligibility

FACTORS MINIMUM MAXIMUM
Sum Assured (Rs ) 2,00,000 6,00,00,000
Policy Term 1 year 3 year
Entry Age 91 days No age bar
Renewal Age - Lifelong Renewability
Co-payment (SI Rs 5 Lakh & above) 20% of the claim amount if you are 61 years old or more at the time of buying the policy. 20% of the claim amount if you are 61 years old or more at the time of buying the policy.
Waiting Period 30 days for any illness except injury 30 days for any illness except injury
Waiting period for pre-existing illnesses 4 years of continuous coverage 4 years of continuous coverage
Grace period 30 days from the date of expiry to renew the policy 30 days from the date of expiry to renew the policy

Exclusion

Religare Care Plan does not offer any treatments due to the below-mentioned conditions

  • Any disease or illness that starts showing symptoms within 30 days of the policy period
  • AIDS
  • Attempted suicide
  • Congenital disease
  • Pregnancy, childbirth, miscarriage, and abortion
  • Any treatment that was under the influence of alcohol or drug
  • Infertility and IVF treatments
  • Hospitalization out of the war, riot, strike and nuclear weapons

Waiting Period

30 days cooling off period for all claims except the ones arising out of accidental injuries.

Apollo Optima Vital Health Insurance Policy

Apollo Health Insurance offers you a critical illness cover names Apollo Optima Vital Health Insurance with higher coverage and at a lower premium. Let's have a look at the features and the scope of cover that this plan offers

Features & Benefits

  • Offers a lump sum amount if the policyholder is diagnosed with any Critical Illness that the plan covers or if surgery is commenced in respect of the covered Critical Illness
  • Offers lifelong renewability
  • Offers an option of either policy term of 2 years or annual
  • Offers coverage for 37 Illnesses
  • Offers a discount of 7.5% for opting for a 2 year policy
  • E-opinion is available where the company's paneled doctor offers expert advice in the case of a critical illness
  • Offers addition of maximum 6 people that can be added in an Individual Policy with a maximum of 4 adults and 5 children
  • Offers Free Healthline Service offering primary consultation, individual referrals, health counseling, nutrition, and diet.

Coverage

The plan offers coverage for 37 Critical Illnesses. The amount in a lump sum is paid if the insured gets diagnosed with the illness of defined severity or during the time of undergoing surgery for the covered Illness. Mentioned below is the list of illnesses that are covered as follows

  • Cancer of specified severity
  • Multiple Sclerosis with persisting symptoms
  • End-stage Liver Disease with specified severity
  • Kidney Failure requiring regular Dialysis
  • COMA of specified severity
  • Bacterial Meningitis
  • First Heart Attack of specified severity
  • Major burns
  • Goodpasture's Syndrome
  • Apallic Syndrome
  • Aplastic Anaemia
  • Systemic Lupus Erythematosis
  • Multiple System Atrophy
  • Progressive Scleroderma
  • Open Chest CABG
  • Major organ or Bone Marrow Transplant
  • Aorta Graft Surgery
  • Primary Parkinson's Disease
  • Alzheimer's Disease
  • Stroke resulting in permanent symptoms
  • Permanent Paralysis of limbs
  • Benign Brain Tumour resulting in permanent neurological symptoms
  • Cardiomyopathy
  • Open Heart Replacement or repair of heart valve
  • Pneumonectomy
  • Pulmonary Artery Graft Surgery
  • Motor neuron disease with permanent symptoms
  • Primary Pulmonary Arterial Hypertension
  • End-stage Lung Disease
  • Creutzfeldt-Jakob Disease (CJD)
  • Major Head Trauma
  • Encephalitis
  • Brain Surgery
  • Progressive Supranuclear Palsy
  • Blindness'
  • Deafness
  • Total loss of speech

Eligibility

FACTORS MINIMUM MAXIMUM
Coverage Amount (Rs) 1 lakhs 50 lakhs
Policy Term 1 year 2 year
Entry Age of Principal Insured (in years) 18 65
Entry Age of Dependent Child (in years) 18 25
Maturity Age (in years) Lifelong Lifelong

Exclusions

  • All treatments except within the first 90 days
  • Pre-existing conditions for first 4 years
  • Maternity or pregnancy-related treatment
  • Congenital internal and external disease, defects or anomalies
  • Hospitalization due to war
  • Any Critical Illness in the presence of HIV or AIDS
  • Abuse of drugs, alcohol, hallucinogens, intoxicant
  • Hospitalization due to war

Waiting Period

  • Covers pre-existing condition post completion of 4 years for certain diseases such as joint replacement, hernia, surgery of hydrocele, cataract, etc.

Max Bupa CRITICARE Policy

Max Bupa CRITICARE is a Critical Illness insurance cover offers a host of benefits. Let's have a look at them

Plan variants

Benefit Option 1: Sum insured payable as lump sum Benefit Option 2: Sum insured payable as lump sum plus an additional 10% of the sum insured payable each year for subsequent 5 years.

Features and Benefits

  • Offers direct claim settlement
  • Offers lifelong renewability
  • Offers income tax benefit under Section 80D of the Income Tax Act, 1961 for the total premiums you paid

Coverage

The below-mentioned illnesses are covered by Max Bupa Critical Illness

  • Cancer
  • First Heart Attack
  • Open Chest Coronary Artery Bypass Surgery
  • Open Heart Valve Replacement or Repair
  • Coma
  • Kidney failure
  • Stroke
  • Major Organ Transplant
  • Paralysis
  • Motor Neurone Disease
  • Multiple Sclerosis
  • Aplastic Anaemia
  • Bacterial Meningitis
  • Loss of Speech
  • End Stage Liver Disease
  • Deafness
  • End-stage Lung Disease
  • Fulminant Viral Hepatitis
  • Major Burns
  • Muscular Dystrophy

Eligibility

FACTORS MINIMUM MAXIMUM
Age (as on last birthday) Adult:18 years Adult:65 years
Sum Assured Rs 3 lakh Rs 2 crore
Policy Tenure 1 year 3 year
Cover Type Individual -
Grace Period 30 days -
Freelook Period 15 days -
Riders AccidentCare & HospiCash -
Plan Type Online/Offline -

Exclusions

  • Acquired Immune Deficiency Syndrome (AIDS), AIDS-related complex or infection by Human Immunodeficiency Virus (HIV)
  • The Insured Persons attempted suicide or self-inflicted injuries while sane or insane
  • Narcotics used by the Insured Person unless taken as prescribed by a Medical Practitioner, or the Insured Person's abuse of drugs and/or consumption of alcohol
  • Failure to seek or follow Medical Advice
  • War (whether war be declared or not), invasion, the act of a foreign enemy, hostilities, armed or unarmed truce, civil war, mutiny, rebellion, revolution, insurrection, military or usurped power, riot or civil commotion, strikes
  • Taking part in any naval, military or air force operation during peacetime
  • Participation in aviation/marine activities including crew other than as a fare-paying passenger in an aircraft/watercraft that is authorized by the relevant regulations to carry such passengers between established airports or ports
  • Including but not limited to engaging in or taking part in professional/adventure sports or any hazardous pursuits, such as speed contest or racing of any kind (other than on foot), bungee jumping, parasailing, ballooning, parachuting, skydiving, paragliding, hang gliding, mountain or rock climbing necessitating the use of guides or ropes, potholing, abseiling, deep sea diving using hard helmet and breathing apparatus, polo, snow and ice sports, hunting etc.
  • Participation by the Insured Person in a criminal or a breach of law with criminal intent
  • Nuclear contamination; the radioactive, explosive or hazardous nature of nuclear fuel materials or property contaminated by nuclear fuel materials or accident arising from such nature
  • Any pre-existing disease or a condition would be covered post completion of 4 policy years

HDFC ERGO Critical Illness Policy

Plan variants

Silver and Platinum

Features and Benefits

  • Safeguards your finances
  • Ensures quality medical treatment
  • Offers free look period of 15 days beginning from the policy issuance date
  • Doesn't require medical check-ups till the age of 45 years
  • Offers lifetime renewability
  • Offers income tax benefit under Section 80D of the Income Tax Act, 1961 for the premiums paid

Coverage

The List of Ailment Covered Under Critical Illness Plan Are

  • Heart Attack (Myocardial Infarction)
  • Coronary Artery Bypass surgery
  • Kidney Failure
  • Major Organ/Bone Marrow Transplant
  • Multiple Sclerosis
  • Stroke
  • Cancer
  • Primary Pulmonary Arterial Hypertension
  • Paralysis
  • Aorta Graft Surgery
  • Heart Valve Replacement
  • Benign Brain Tumor
  • Parkinson's Disease
  • Alzheimer's Disease
  • End Stage Liver Disease

Eligibility Criteria

  • Silver - Entry Age - 5 to 65 years Sum Insured Options - Rs 5 Lakh, Rs 7.5 Lakh, and Rs 10 Lakh
  • Platinum - Entry Age - 5 to 65 years Sum Insured Options - Rs 2.5 Lakh, Rs 5 Lakh, Rs 7.5 Lakh, and Rs 10 Lakh
  • Gold - NA (this plan is discontinued and there is no information available on the eligibility criteria).

Exclusions

  • A waiting period of 90 days will apply to all claims unless the Insured Person has been insured under this policy continuously and without any break in the previous Policy Year.
  • War or any act of war, invasion, act of foreign enemy, war like operations (whether war be declared or not or caused during service in the armed forces of any country), civil war, public defence, rebellion, revolution, insurrection, military or usurped acts, nuclear weapons/materials, chemical and biological weapons, radiation of any kind.
  • Insured Person committing or attempting any breach of the law with criminal intent or Arising out of or as a result of any act of self-destruction or self-inflicted injury, attempted suicide or suicide.
  • Insured Person's participation or involvement in naval, military or air force operation, racing, diving, aviation, scuba diving, parachuting, hang-gliding, rock or mountain climbing.
  • The abuse or the consequences of the abuse of intoxicants or hallucinogenic substances such as drugs and alcohol, including smoking cessation programs and the treatment of nicotine addiction or any other substance abuse treatment or services, or supplies.
  • Venereal disease, sexually transmitted disease or illness; ďAIDSĒ (Acquired Immune Deficiency Syndrome) and/or infection with HIV (Human immunodeficiency virus) including but not limited to conditions related to or arising out of HIV/AIDS such as ARC (AIDS-related complex), Lymphomas in brain, Kaposiís sarcoma, tuberculosis.
  • Any treatment arising from pregnancy (including voluntary termination), miscarriage, maternity or birth (including cesarean section), congenital internal and external diseases, defects or anomalies.
  • Any exclusion mentioned in the Schedule or the breach of any specific condition.

Waiting Period

A waiting period of 90 days will apply to all claims unless the Insured Person has been insured under this policy continuously and without any break in the previous Policy Year.

How to Choose the Best Critical Illness Insurance?

It is an insurance policy which provides protection when a major illness occurs, and the person is unable to earn income or work. This type of insurance policy covers those illnesses which a regular health insurance plan can't cover because of the high doctor's fee and other related expenses. This is the best way to cover acute diseases. This plan pays a lump sum for the analysis of serious ailments that are listed in the policy document. An indemnity health insurance plan would cover normal health diseases and related expenses, but what in the case of critical diseases, critical illness insurance can provide you protection against critical disease.

Buying a critical illness insurance plan is the best way to deal with heavy doctor fees and its related expenses. It helps you in covering expensive treatments and recuperation aids, loss of income due to inability to earn and paying off debts. It would act as a supplement to your health insurance lists. It covers many critical diseases such as heart transplant, angioplasty, coronary bypass surgery, and much more.

At PolicyX.com, we provide free quotes and comparison services that will assist you in choosing the best critical illness insurance plan. Our comparison service helps people in saving time and money. Buying a critical illness insurance plan is helpful as it provides coverage to the serious ailment, which is challenging to handle. At PolicyX.com, we have tie-ups with more than 20 companies which provide different and helpful critical illness insurance plan. This will help you in choosing the best plan out of many companies.

While you are thinking to buy a Critical Illness Insurance Policy you should make it specific that whether you have any medical record or medical illness or not. This will provide the insurance company transparency regarding your situation and requirements for the Critical Illness Insurance Policy. Some insurance companies have the protocol of medical check-up of the client before providing any insurance.

Critical Illness Insurance Policy is an act of wisdom as approximately 95% of people who suffer from a critical illness like heart attack survivors with proper treatment and medication but, it gets a long time to recover back the financial stability like before, and people cannot think to switch back to his or her healthy lifestyle. Critical Illness Insurance Policy will help the policyholder to survive respectfully and getting guidance against the unforeseen medical situation. PolicyX will help the policyholder to compare the best policy out of the rest as per the requirement of the policyholder with proper guidance and assistance.

The immunity system of the human body gets the week with age, and that is why in the old age, one has to pay more amount of premium. So, one should be an early riser then later a should choose a plan that suits the policyholder most as per the requirement. PolicyX provides an easy claim settlement for the Critical Illness Insurance Policy.

So, one should compare and choose the best Critical Illness Insurance Policy from the PolicyX so that he or she can save their life and their loved one's life in the hour of need without any burden on the financial status of the family and without harming the normal life of the family. With the Critical Illness Insurance Policy, one can live respectfully and happily even after huge expenses.

Exclusions of Critical Illness Insurance Policy

Most of the policy covers the major critical illness but still, there are a few exclusions from the same, some of the exclusions are as follows

  • Death of the policyholder within 30 days from the day when the critical illness is diagnosed will not be covered under Critical Illness Insurance Policy.
  • The illness that is caused because of any smoking, tobacco, excess alcohol or any other harmful drug intake will not be covered under Critical Illness Insurance Policy in any circumstances
  • Cover for critical conditions such as childbirth as in caesarean case or any other pregnancy-related complication will not be covered under Critical Illness Insurance Policy.
  • Any critical situation that is caused due to failure of customers to seek medical or follow the medical advice such as not going for regular medical checkups that result in several illnesses will not be covered under Critical Illness Insurance Policy.
  • The harm caused by the policyholder to himself intentionally, such as an attempt to suicide will not be covered under Critical Illness Insurance Policy unless the policyholder suffers from any mental disorder.
  • Any injury or health disease from which the policyholder is diagnosed or had signs or received any medical symptom for the same and all other pre-existing disease are excluded permanently from the coverage of Critical Illness Insurance Policy.
  • Any sexually transmitted disease such as AIDS/HIV is not covered under Critical Illness Insurance Policy.
  • Any dental treatment is excluded from most of the Critical Illness Insurance Policy.
  • Surgery expense of hernia, laser surgery, and any gastric treatment expense is not covered under any Critical Illness Insurance Policy plan.
  • Birth control procedures or hormone replacement therapy expenses are also excluded from the Critical Illness Insurance Policy.

Documents Required for Critical Insurance Plan

  • Age proof.
  • Anyone of birth certificate, 10th or 12th mark sheet, driving license, passport, voter id, etc.
  • Identity proof.
  • Driving license, passport, voter id, pan card, aadhar card, which proves one's citizenship.
  • Address proof.
  • Electricity bill, telephone bill, ration card, driving license, passport, having the permanent address.
  • Passport size photos.

Steps to Buy Critical Illness Insurance Plan

  1. A hassle-free site that assists you in buying the desired plan.
  2. It should save your time and money as well.
  3. Simple process, enter some basic requirements and details to find the best insurance plan.
  4. Compare plans provided by top insurance companies through PolicyX.com.
  5. Choose a plan that suits your requirements.
  6. Fill the proposal form that requires some necessary information.
  7. Upload your documents online.
  8. Make the payment through selected mode.
  9. Congratulations! You are insured.

FAQs

1. Can I make multiple claims for the same illness or any other critical illnesses that are listed?

During the policy period, you are allowed to make only one claim on any of the listed critical illnesses mentioned in your policy document.

As soon as you make a claim, the lump sum amount shall be paid out for the particular critical illness. The policy would be automatically terminated and subsequent renewals would be allowed in the policy of the particular insured person. If at all the policy has been issued to more than one individual then the policy shall still remain active for the other policy members.

Certain insurance policies continue other benefits except for the one which you already made the claim.

If you are making a critical illness claim then the hospitalization expenses incurred will be paid under Health Insurance. The Lump sum benefit will be paid after the survival period under Critical Illness cover.

It is always better to speak to your insurance company about this clause as some insurers may allow you to make more than one claim.

2. I want to understand how is the premium determined for critical care plans?

Premiums for critical care insurance are determined on the sum insured stated in the policy document, the complete policy tenure, gender, and health status of the insured person.

The premiums vary from one individual to another depending on all these factors mentioned above.

3. Is it better to take critical illness cover or health insurance?

A critical illness cover offers you a lump sum amount in case of diagnosis of the critical illness that is mentioned in the policy document. However, health insurance reimburses the medical expenses borne by you. Hence, it is better that you buy a separate critical illness cover.

4. Can I change the sum assured during policy tenure?

No, you cannot change the sum assured during the policy tenure.

5. Do I get any tax benefits under this policy?

Yes, the premiums that you pay for your critical illness insurance cover qualifies for an income tax deduction under Section 80D of the Income Tax Act, 1961.

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