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Who Should Buy A Critical Illness Insurance Policy?

Updated On Oct 01, 2021

A health insurance policy is important for each and every individual as it provides financial backup to the individuals for the medical bills that may incur due to the hospitalization of an individual in case of an emergency. It not only compensates for the medical bills but also ensures quality treatment of the patients at the network hospital of the health insurance provider. Health insurance plans offer perks like hospitalization costs, room rents, ambulance charges, medication costs, tax-saving benefits, and much more. There are different types of health insurance plans which have been curated to meet the specific demands of the policyholders cost-effectively. Some of the common types are maternity benefit plans, critical illness plans, personal accident covers, etc. 

Critical illness health insurance plans are widely bought due to their growing importance and enhancing features. Critical illness plans are specifically for the treatment of life-threatening chronic disorders which are prominent these days among a large population. Diseases like diabetes, stroke, heart diseases, lung diseases, cancer, hypertension, and much more, are covered under a single plan and its benefits can be availed by the policyholders at the time of the claim settlement process. 

About Critical Illness Insurance Plans

A critical illness insurance policy offers financial security to the policyholders against the high cost of critical diseases treatments. Under this plan, the policyholders are offered a high amount of claim assured in lump sum payments which can also be taken into use for repaying the debts or compensating the loss of income due to the treatment of the policyholder. Let us look at some of the key points that define the features of the critical illness health insurance plans: 

  • Lump sum claim amount is provided to the policyholders on approval of the claim request.  
  • The benefits under this plan can be availed after the waiting period that is specified by the insurer at the time of the purchase of the policy. 
  • A wide range of critical diseases are included under a single plan like tumour, cancer, stroke, heart attack, alzheimer, and much more.  
  • Certain amount from the claimed amount can be used to cover the loss of income of the policyholder. 

Who Should Buy A Critical Illness Insurance Policy?

A critical illness health insurance plan can be bought either as an additional plan to your existing regular health insurance plan or it can be bought as a standalone health insurance policy based on the financial budget of the policyholder. Following is the list of possible people who can benefit from a critical illness insurance policy: 

1. Sole Breadwinners of A Family

The financial head of the family must be secured under a critical illness health insurance policy, as due to the changing lifestyle of the people, the occurrence of certain critical diseases have become prominent. Therefore, in order to protect the family and to maintain the stability of the income during the treatment of a critical disease, it is important for the breadwinner to be secured under a critical illness plan. 

2. People Over The Age of 40 Years Or The Senior Citizens

People over the age of 45 or the senior citizens are more vulnerable to the risks of contracting a life-threatening critical disease. Therefore, they must be secured separately under a critical illness plan to make sure that they receive quality treatment at the time of the hospitalization. 

Must Read: Why Should I Buy A Critical Illness Cover?

3. People With Medical History

Individuals with a medical history of chronic ailments like diabetes, cancer, tumour, etc. must purchase a critical illness plan as early as possible to overcome its waiting period and avail the benefits of the plan without any hassles. 


Apart from the above-mentioned people, individuals with high-pressure jobs, etc. must also invest in a critical illness plan, as a stressful working environment can affect the health of the people. You must carefully go through the fine print of the policy to understand its terms. 

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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