Critical Illness Cover a Must in Your Health Insurance Policy

Health Insurances 156 views

The changing lifestyle and stressful life is making people more prone to more serious health issues. The count of serious illness is increasing every day. Acute illness also affects your income and savings. Critical illness can lead to serious health issues and create burden on your monthly budget. Financial burden is equally severe as health loss. To safeguard your family from all such issues and feel financially secured, it is important that you must buy a health insurance policy with critical illness. It will bear the large medical cost as well as provides you a lump sum for money arrangements. One should buy a good critical illness cover to combat the financial losses due to medical treatment.

You should buy a critical illness cover because:

  • You don't have any savings to support you if you will face any severe health issues.
  • You don't have employee benefits package to cover a period of time off the work due to critical illness.

Critical illness cover includes:

  • Cancer of specified severity
  • First heart attack of specified severity
  • Open chest CABG
  • Repair of heart valves or open heart replacement
  • Coma of specified severity
  • Kidney failure requiring regular dialysis
  • Stroke resulting in permanent symptoms
  • Stroke resulting in permanent symptoms
  • Major organ/bone marrow transplant
  • Permanent paralysis of limbs
  • Motor neuron disease with permanent symptoms
  • Multiple sclerosis persisting symptoms
  • Bacterial meningitis
  • Loss of speech
  • End stage liver disease
  • Deafness
  • End-state lung disease
  • Viral hepatitis
  • Major burns
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These are some common critical illness, which are mostly covered by health insurance policies. Insurance companies cover a varying number of critical illness under different critical illness insurance policies. While buying the health policy to cover the critical illness one should read the terms and conditions carefully.

Critical illness health cover doesn't include:

  • Illness diagnosed within first 90 days from the start date of the policy
  • Death with 30 days of diagnosis of critical illness or surgery
  • Illness due to smoking, tobacco, alcohol or drug intake
  • Illness due to internal or external congenital disorder
  • Critical conditions or consequences due to pregnancy or childbirth, including caesarean
  • HIV/AIDS infection
  • War, terrorism, civil war, navy or military operations
  • Any dental care or cosmetic surgery
  • Infertility treatment
  • Hormone replacement treatment
  • Treatment done outside India
  • Treatment to assist reproduction

Advantages of critical illness health cover

Critical illness health cover plan is very important if you face any serious illness and you are not able to meet the medical illness expenses or not even able to make your living? In such critical financial situation, critical illness health cover comes as savior. It provides you lump sum amount if you are diagnosed with serious illness covered by insurance policy. Besides, there are other benefits as well offered by the critical illness policy:

  • Includes cost of care and recuperation aid
  • Tax benefits under section 80D
  • Fee health checkups

This policy also covers expenses such as donor expenses in an organ transplant surgery, which are not generally covered in normal health insurance policy.

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