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Features And Benefits of Critical Illness Insurance Plans

Updated On Nov 08, 2021

Health insurance plans are of different types and these plans can be chosen by the policyholders according to their needs and requirements. It is important to analyze your choices before investing in a particular health insurance plan. A regular health insurance policy offers basic features like hospitalization expenses, ambulance charges, room rents, inpatient costs, etc. at an affordable premium price. But, the basic health insurance cover can be insufficient to meet the requirements of the people seeking treatment for a critical disease like diabetes, stroke, sclerosis, heart diseases, and much more.

To help the policyholder compensate for the high costs of treatments of chronic diseases, the health insurance providers have rolled out critical illness health insurance plans. Under these plans, the policyholders are granted the lump sum payment of their claim amount so that they can receive quality treatment and compensate for their income loss incurred due to the treatment of the critical disease. Apart from the basic expenses, the coverage of this plan is also comprehensive and cost-effective for different groups of people in the society. People suffering from critical diseases, or those who have a medical history of critical illnesses must invest in a suitable critical illness plan.

Features And Benefits of Critical Illness Insurance Plans

About Critical Illness Health Insurance Plans

Critical illness health insurance covers offer financial aid to the policyholders to compensate for the medical expenses incurred during the treatment of critical diseases like multiple sclerosis, diabetes, stroke, cancer, etc. This is an indemnity based plan and offers a lump sum payment of the claim amount and it covers a range of life-threatening diseases for the policyholders. It helps the people in overcoming their financial stress due to the high costs of treatments and looks after their family in the tough times.

Must Read: Best Critical Illness Policy In India In 2021

Features of A Critical Illness Insurance Cover

Let us look at some of the prominent and common features of a critical illness health insurance plan:

  • This plan covers a list of chronic diseases like diabetes, stroke, heart diseases, kidney ailments, and much more. Around 32 critical diseases are covered under the plan.
  • Unlike a basic health insurance cover, policyholders can avail their plans and receive a lump sum amount of their assured sum.
  • The claims can be approved with the help of a diagnosis report of the policyholder, which makes the claiming process smooth and hassle-free.
  • This plan comes with a specified waiting period decided by the insurer according to the medical condition. You can avail the plan only after the waiting period.
  • Apart from paying for the hospitalization costs, the lump sum amount can also be used to compensate for the income loss incurred during the treatment.

Benefits of A Critical Illness Insurance Plan

Let us look at the benefits that are offered under a critical illness plan, which can be availed by the policyholders at the time of the claim settlement process:

  • These plans usually have a shorter waiting period of around 3 months, which makes it easily available for the policyholders in case of a medical emergency.
  • Claims under this plan can be made on the mere basis of the diagnostic reports. People need not produce proof of hospitalization. However, the diagnosis reports must be from a recognized and authorized medical center.
  • Tax saving perks under section 80D of the Income Tax Act are available along with the cashless claim benefits at the network hospitals linked to the insurer.
  • Several options for the top-up and super top-up plans are also available under this plan, which gives the people a wide range of choice.


Critical illness health insurance plans can be bought by the policyholders to get sufficient coverage for their critical illnesses treatments at the private hospital without facing any monetary constraints. Since, this plan covers a list of chronic diseases, you must make sure that it includes your desired ailment, to make a convenient claim at the time of the claim settlement process.

Also Read: Why Is Critical Illness Health Insurance Cover Important?

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