Get the best rates for your Criticsl Illness
What is Critical Illness?
A critical illness is also covered in health insurance but the sum insured in the same is restricted and that is why a separate sum insured amount is needed to meet the need of heavy medical treatment expenses. Some of the critical diseases are hereditary transferred from one generation to another and while others are born out of our unhealthy daily life routines. A chronic illness like Cancer or any other disease diagnosed is enough to ruin the life of an individual.
Why do you need an insurance for critical illness?
In today’s under developing world, health insurance is a must have. Nothing is certain in life, nobody has control over any event in life. Insurance policies are essential in unpredictable circumstances of the fast life. Hospitalization, medication, test bills, and treatment expenses dig a hole in the pocket of an individual and its results in unimaginable stress which further can cause serious problems and emotional, social and economic breakdown of an individual. This is the time when we realize that having an health insurance is essential for you and your loved ones.
Health insurance provides coverage for medical check-ups free of cost, cashless medical treatments and there is a list of different policy covers which is provided for it. It doesn’t matter if you already have a health insurance policy, any critical illness disturbs the person and family because there are a lot of complications involved in critical diseases that are not covered under a normal health insurance policy , That is why a special Critical Illness Insurance Policy is needed.
Critical Illness is a severe health problem that has a devastating effect on the life of an individual and it requires a huge sum of money to treat the same. Nowadays, it is easy to cure the disease at an early age itself. Some of the common critical illnesses covered under the Critical Illness Insurance Policy are a Heart attack, Cancer, Major Organ transplant, Blindness, Stroke, Bacterial Meningitis, Deafness, Motor Neuron Diseases, Terminal illness etc.
What all critical illness insurance does and doesn’t cover
Benefit of Tax
The premium amount which you have to pay for the Critical Illness Insurance Policy is covered under the tax benefit as per the section 80D of the Income Tax Act.
Guaranteed life long policy renewals
For cover ceasing, there is no maximum age mentioned in most of the Critical Illness Insurance Policy so eligibility for the policy is from 8 years to 70 years.
Flexibility in the sum insured
The policyholder can opt for the sum insured as per the use and requirement of the disease. If the policyholder does not make the claim of the insurance policy, then the sum insured can be increased during the renewal of policy plan.
Portability of the insured plan
When the policyholder is renewing the policy, there will be an option to migrate the existing health insurance plan.
Pre-existing Disease Cover
The pre-existing disease is not included in the Critical Illness Insurance Policy, they are included only after the completion of four consecutive renewals from the initial date of start of the insurance policy.
Mostly all of the policies cover the major Critical Illness but still, there are some exclusions from the same, those are-
- Death of the policyholder within 30 days from the day when the critical illness is treated will not be covered under Critical Illness Insurance Policy.
- The illness that is caused due to smoking, consumption of tobacco, excess alcohol or any other harmful drug will not be covered under Critical Illness Insurance Policy in any circumstances.
- Coverage for sensitive conditions such as birth of child as in cesarean case or any other pregnancy-related issue will not be covered under Critical Illness Insurance Policy.
- Any critical situation that is the result of the failure of customers to seek medical or follow the medical advice such as not going for regular medical checkups that result in various illnesses will not be covered under Critical Illness Insurance Policy.
- Damage 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 a sort of mental disorder.
- A type of injury or health-related issue in which the policyholder is treated or had signs or received any medical symptom for the same and all other pre-existing disease are not included in the coverage of Critical Illness Insurance Policy.
- Any Sexually transmitted Disease such as AIDS OR HIV is not covered under Critical Illness Insurance Policy.
- Any dental procedure is not included in most of the Critical Illness Insurance Policy
- Surgery cost of a hernia, laser surgery, and any gastric treatment expense are not taken care of under any Critical Illness Insurance Policy plan.
- Birth control procedures or hormone replacement session costs are also excluded from the Critical Illness Insurance Policy
Types of Critical Illness Insurance plan:
There are two types of Critical Illness Insurance Policy covers that one can opt:
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. If you want your family to be insured, you can buy an individual plan for each member of the family after paying separate premium amounts.
Family Critical Illness Insurance Policy: – Family Critical Illness Insurance Policy covers the complete family in a single premium amount. One large sum is insured for the family cover, the amount enough for the complete family. All members are covered in the plan and can claim using the single sum insured.
Documents Required For Critical Insurance Plan
- Age proof
- Anyone of Birth Certificate, 10th or 12th mark sheet, , Passport, Voter ID, Driving License etc.
- Identity proof
- Aadhar Card, Passport, Voter ID, Driving License, PAN Card, which proves one’s citizenship
- Address proof
- Ration Card, Electricity Bill, Telephone Bill, Driving License, Passport on which permanent address is clearly mentioned.
- Passport size photo
Why choose FinBucket for your insurance
FinBucket will help the policyholder to compare the best policy out of all the available options as per the norms and requirements
FinBucket provides an easy claim settlement for the Critical Illness Insurance Policy so, you should compare the plans from FinBucket so that you could save your life and the lives of your loved ones when the time comes without any burden
With the free quotes provided, compare different Individual Insurance plans at zero cost on FinBucket.
Tie-ups with highly reputed leading brands in India.
Buy Critical Illness insurance within minutes by filling up the online form. Most of the plans are available online and you can get your policy instantly by making an online payment.