Critical Illness Insurance
Highlights Critical Illness Plans
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Critical Illness Insurance Everything You Want to Know
Key Benefits and Features of a Critical Illness Policy in India
Some of the top benefits offered by a critical illness cover are:
The lump sum paid under the policy is completely free of tax payment as per Section 80D of the Income Tax Act.
Coverage is provided for hospitalization and other medical expenditures.
Treatment taken abroad is also covered.
Loss of income to the family due to the critical illness of the primary breadwinner is covered under the plan.
The policyholder is assured of financial security in these crucial times since the plan takes care of all expenses and income loss as well.
Features of Critical Illness Policy
Some of the top features of a critical illness rider are listed as follows:
A lump sum is paid to the policyholder upon diagnosis of the condition
A high coverage amount is offered by the insurer to take care of the expensive treatment
Tax exemptions are provided to the insured on the premiums payable under the plan
List of Diseases Covered Under Critical Illness Insurance
Some of the major critical diseases covered under critical illness health insurance are:
Major organ transplant
Cancer
Paralysis
Loss of income to the family due to the critical illness of the primary breadwinner is covered under the plan.
The policyholder is assured of financial security in these crucial times since the plan takes care of all expenses and income loss as well.
Features of Critical Illness Policy
Some of the top features of a critical illness rider are listed as follows:
A lump sum is paid to the policyholder upon diagnosis of the condition
A high coverage amount is offered by the insurer to take care of the expensive treatment
Tax exemptions are provided to the insured on the premiums payable under the plan
Critical Illness Insurance Plan - Inclusions and Exclusion
Critical Illness Insurance Plan - Inclusions
Benefits under the plan can be availed within 30 days of disease diagnosis
Coverage provided for up to a total of 50 major critical illnesses
Annual health check-ups covered under the plan
A lump sum amount is assured to the policyholder upon disease diagnosis
Critical Illness Insurance Plan – Exclusions
Diseases due to internal or external congenital disorders
No compensation in case of death of the insured within 30 days of disease diagnosis
Injury due to adventure sports, war injury, or self-inflicted harm
Complications during pregnancy or childbirth
Ask Anything as We Have Answers to Everything in Insurance
This policy pays the policyholder a lump sum if the person is diagnosed with a critical illness.
No, if a person is already diagnosed with an illness, they will not be able to buy this insurance.
Anyone between 18 – 65 years can buy a critical illness insurance policy.
Critical illnesses are life-threatening diseases such as cancer, cardiovascular diseases, stroke, organ failure, and so on.
While there are many options available, the best plan is comprehensive as it covers many diseases and is affordable.
People should buy it for financial security if diagnosed with a life-threatening disease to cover medical expenses.
It pays the maximum sum insured as a lump sum to the insured in the event of being diagnosed with a critical illness.
Critical illness cover imposes a waiting period of 90 days before the insured can raise a claim under this plan.
Yes, you can have a free look period under your critical illness insurance policy.
