Best Critical Illness Insurance Plans For 2021

A suitable and comprehensive critical illness insurance policy can protect you against the costs of treatment incurred during hospitalization for critical disorders. It covers the policyholder’s expenses for critical diseases like heart attack, lung diseases, organ damage, liver failure, and much more. It should be purchased if you have a family history of critical diseases, you work in a stressful environment, or if you are the sole breadwinner of your family. Treatment of critical diseases can cost you a fortune as inflation has risen rapidly in the health sector over the past few years. 

You must choose a critical illness insurance policy based on certain factors like age, sum assured, coverage benefits, pre-existing diseases, and financial budget. After comparing several options and plans from various companies, you must go for the one that meets your requirements at an affordable price. Several companies offer exclusive top-up covers to add on benefits to your existing critical illness insurance policy. 

Best Critical Illness Insurance Policies In 2021

You must compare different plans and then choose the one that meets your demands. You can also ask the insurer to customize the policies according to your needs. Following is the list of some widely purchased critical illness insurance plans from different insurance companies:

1. Reliance General Insurance -Critical Illness Insurance

This critical illness insurance policy covers around 10 critical disorders and along with that included benefits like wide coverage and high sum assured. 

2. HDFC Ergo General Insurance -Critical Illness Insurance

It covers around 15 life-threatening critical illnesses. Under this plan, you get the claim payment in a lump sum amount and the policy tenure varies from 1 to 2 years. 

3. Bajaj Allianz General Insurance -Critical Illness Plan

This plan covers 10 critical illnesses which included life-threatening disorders like heart attack, cancer, etc. Under this policy, you can make a claim on the expenses incurred during hospitalization either within the boundaries of India or abroad. 

4. Star Health And Allied Insurance - Criticare Plus

This comprehensive plan covers expenses incurred from daycare procedures,  emergency ambulances, and non-allopathic treatments. 

5. Aditya Birla Health Insurance - Cancer Secure

This plan has been specifically designed to mitigate the expenses of cancer treatment as it is one of the most threatening and growing critical disorders. This plan covers major, early, and advanced stages of cancer where the percentage of the sum insured to be paid differs accordingly. 

6. Cholamandalam MS - Critical Healthline Policy

This plan for critical diseases is known to include around 10 disorders under its standard policy and 12 critical illnesses under its advanced policy. This plan also looks after the ambulance charges of the policyholders in case of an emergency. 

7. Bharti AXA General Insurance Company Limited - SmartHealth Critical Illness

The critical insurance plan offered by this insurer includes the hospital cash allowances, daycare procedure expenses, and domiciliary hospitalization expenses. 

8. Raheja QBE  General Insurance - Cancer Insurance 

This plan covers only the cancer treatments of the policyholder. Under this policy, on the acceptance of cancer, the amount is paid in a lump sum and up to 50% of the expenses related to the pre-policy medical screening are paid by the insurer.

Benefits of A Critical Illness Insurance Policy 

Let us look at some of the advantages of investing in a critical illness insurance policy:  

• These policies come with 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. 
• Under section 80D of the Income Tax Act, you can get a benefit of tax deduction of the premium payments under this policy. 
• The covers also offer add-on plans to add extra benefit to your existing critical illness insurance policy. 

Conclusion 

You must have a critical illness insurance plan to offer the patient peace of mind regarding the treatment expenses of the diseases. You can get a cashless treatment facility if you choose to get hospitalized in one of the network hospitals of the insurer. You can also make a claim by producing the diagnostic reports of your critical illness. 

Also Read: Dos and Don'ts While Buying Critical Illness Insurance

Critical Illness Insurance: What Is It And Who Needs It?

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.