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Benefits of Critical Illness Insurance Plans

Published On Sep 29, 2021 10:00 AM By InsuranceDekho

Health insurance plans are of different types and have been curated to meet the changing demands of the policyholders. A regular health insurance plan compensates for the medical expenses of an individual at an affordable price and also offers a range of other perks to the individual under that plan. Some of the widely purchased health insurance plans are individual health insurance, maternity benefit plans, critical illness plans, disease specific plans, personal accident covers, and much more. You can explore and compare several options that are available in the insurance market before investing in a suitable health insurance policy.

Before investing your money in a particular health insurance plan, you must carefully analyze your requirements and then after sufficient research on the available plans, you can choose the best plan for yourself and your loved ones. Critical illness health insurance plans have been rolled out by the health insurance providers to help the policyholders in getting sufficient coverage for the treatment of their chronic diseases. Critical illness plans cover a range of critical diseases like stroke, heart related ailments, lung diseases, diabetes, hypertension, and much more. You can explore a range of chronic diseases available under a plan, and then seek coverage in lump sum payments for those diseases at the time of the claim settlement process.

Benefits of Critical Illness Insurance Plans

About Critical Illness Health Insurance Plans

Critical illness health insurance plans are plans that offer compensation for the medical bills incurred during the treatment of a life-threatening disease like diabetes, heart attack, stroke, cancer, and much more. It covers a numbered list of chronic disorders and provides lump sum payment to the policyholders at the time of claim settlement process, which can also compensate for the loss of income of the policyholder due to the treatment. It helps the policyholders in supporting their families at the time of financial stress due to high cost of medical treatments. Following are some of the prominent features of critical health insurance plans:

Must Read: Critical Illness Policy V/s Cancer Policy - Which One Should You Go For?

  • These plans include a range of different life-threatening chronic diseases like tumour, kidney failure, cancer, stroke, and much more.
  • At the time of the claim settlement process, the insurer offers the policyholder with the lump sum payment of the claim amount, unlike any other regular health insurance plans.
  • The claims are made on the basis of the diagnosis report of the policyholder, which makes the claiming process smooth and hassle-free.
  • The features and perks of this plan can be availed at the end of specified waiting period, which is specified by the insurer at the time of the purchase of the policy. Therefore, it is advised to buy the plans as early as possible, to get over the waiting period of the plan.
  • The lump sum payment of the claim amount can be used as compensation for the loss of income due the treatment of life-threatening diseases.

Benefits of A Critical Illness Insurance Policy

Following are some of the common benefits of a critical illness health insurance plan, that can be availed by the policyholders during the policy tenure:

  • Critical illness health insurance plans have a short waiting period of around 3 months, after which you can avail the benefits of the policy purchased.
  • To make a claim under this policy, it is not necessary to get hospitalized. You can receive the entire sum assured based on the diagnostic reports of your disease, which is to be issued by an authorized doctor or hospital.
  • Under section 80D of the Income Tax Act, you can get a benefit of tax deduction of the premium payments under this policy and you can also avail cashless treatment facility at the linked hospitals of the health insurance providers.
  • The covers also offer add-on plans, super top-up covers, top-up plans, and much more to enhance your existing critical illness insurance policy.


You must invest in a suitable critical health insurance plan if you or any of your family members has an underlying chronic disease, medical history of life-threatening diseases, etc. This is one of the viable options to incur the high cost of medical treatment of critical diseases. You must carefully read the policy terms before investing in a plan to make sure that it meets your demands.

Also Read: Difference Between Health Insurance and Critical Illness cover

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.

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