Are Critical Illnesses Covered In Health Insurance?
Updated On Nov 29, 2021
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Health insurance plans offer financial aid to the policyholders in times of medical emergency. Under a suitable health insurance plan, the policyholders can avail several features and benefits like hospitalization costs, room rents, ambulance charges, domiciliary expenses, etc. The health insurance providers have rolled out different types of health insurance plans to compensate for the wide range of medical needs of the policyholders. Some of the common types of health insurance plans are critical illness plans, maternity benefit plans, personal accident covers, and much more.
Critical illness health insurance plans cover the medical expenses incurred during the treatment of a critical disease. Such plans compensate for around 32 critical diseases that are specified by the health insurance providers at the time of buying the policy. Critical illness insurance plans offer lump sum benefits to the policyholders using which the people can pay off their debts incurred during the treatment of the disease. You can customize your plans according to your needs and make sure that it is up to your medical requirements.
Are Critical Illnesses Covered In Health Insurance?
A lot of health insurance providers offer coverage for critical diseases under the regular health insurance plans based on the medical profile of the policyholders. Policyholders have to pay an extra premium amount to get coverage for critical diseases. However, there are separate critical illness health insurance plans that can be bought by the policyholders to get comprehensive and affordable coverage. These plans can either be bought as standalone policies or included as additional covers, based on the financial budget of the policyholders. The critical illnesses coverage offered by the health insurance providers is extensive and can be customized by the policyholders buying the policy.
Must Read: List of Diseases Covered In Health Insurance
About Critical Illness Health Insurance
Critical illness health insurance policies are health insurance plans that specifically look after the medical expenses incurred due to the treatment of life-threatening diseases. With the rise in inflation, the cost of treatments in the private hospitals has also increased thus burning a hole in the pockets of the individuals. To help the policyholders survive such conditions and receive quality treatments for their critical medical ailments, the health insurers have rolled out exclusive critical illness health insurance plans. Given below are some of the essential features of critical illness health insurance plans:
- These plans cover a wide range of critical illnesses like cancer, stroke, diabetes, sclerosis, etc.
- It offers a sufficient amount of sum assured to the policyholders in lump sum payments.
- Diagnosis reports are enough to make claims in case of an emergency for critical diseases.
- Waiting period under the plan is determined by the insurer according to the medical condition of the policyholder.
- The claim amount under the plan can be used to compensate for the loss of income due to treatment of the disease.
Importance of Critical Illness Coverage
Individuals with medical history of life-threatening diseases, pre-existing critical ailments, etc. must invest in critical illness health insurance plans. One must analyze their medical needs before investing in a certain health insurance policy. Let us look at some of the key points that signify the importance of having a critical illness coverage:
- These plans come with a short waiting period of around 3 months, that is the policyholders can avail the benefits in case of an emergency without having to wait.
- You can receive a claim on your purchase critical illness plan with the help of a diagnosis report, as hospitalization is not a necessary condition under these plans. The diagnosis reports must be issued by an authorized hospital.
- Add-on covers can be included to enhance the coverage of the existing plan.
Conclusion
Most of the health insurance providers offer exclusive critical illness health insurance plans to the policyholders at an affordable premium amount. You can invest in a suitable critical illness plan after exploring the available options in the insurance market.
Also Read: All You Need to Know About National Mediclaim Policy
Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.
