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Why Should You Add Critical Illness Cover In Your Health Insurance Portfolio?

Published On Nov 04, 2021

Critical illness health insurance plans are a specific type of health insurance plans that offer monetary compensation to the policyholders for treatment of critical ailments like diabetes, cancer, stroke, sclerosis, and much more. Under critical illness plans, the health insurance providers offer lump sum payment of the claim amount to the policyholders. Critical illness plans are like any other health insurance cover but it offers extensive features for the treatment of critical illness in policyholders. People suffering from any of the critical diseases or have a medical history of critical ailments can invest in a critical illness plan to get a high amount of coverage for their treatment without compromising the quality of their treatments at the private hospital.

Why Should You Add Critical Illness Cover In Your Health Insurance Portfolio?

About Critical Illness Insurance Covers

Critical illness health insurance plans are indemnity based plans that compensate for treatment of critical diseases and offer lump sum payment of the claim amount to the policyholders. This plan provides a sufficient claim amount to the policyholders so that they can receive quality treatment at the hospitals and using the amount they can also compensate for their income loss incurred due to the treatment. Apart from the medical expenses these plans also consider other expenditures like room rents, medications, ambulance charges, etc. Following are some of the essential features of a critical illness plan:

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  • It covers a wide range of critical illnesses like cancer, stroke, sclerosis, etc. as specified by the insurer.
  • Under this plan, the claim amount is provided to the policyholders in lump sum, thus offering them a sufficient amount to spend on their treatment.
  • Coverage of a critical illness plan can be claimed on the basis of a diagnosis report.
  • These plans come with a short waiting period for the policyholders.
  • Using the lump sum payment of the plan, policyholders can compensate for their lost income.

Why Should You Add Critical Illness Cover In Your Health Insurance Portfolio?

Critical illness health insurance plans are essential for people who have a medical history, pre-existing critical disorder, etc. Let us look at some of the key points that signify the importance of including a critical illness plan in your health insurance portfolio:

  • The critical illness plans have a short waiting period of 3 months, after which the policyholders can avail the benefits under the plan.
  • Hospitalization is not mandatory to avail the benefits of a critical illness plan. You can get the claim amount based on the diagnostic reports of your critical illness, which is to be issued by an authorized doctor or hospital.
    tax saving perks are offered to the policyholder who are also taxpayers, abiding to the Section 80D of the Income Tax Act.
  • This plan can be added to an existing plan, to enhance the coverage and get extra benefits.

Benefits of A Critical Illness Insurance Policy

Let us look at some of the benefits of a critical illness plan that can be availed by the policyholders after purchasing the plan:

  • Critical illness health insurance plans can be customized according to the needs of the policyholders, to make sure that their respective critical illness is a part of the plan.
  • Due to the increase in inflation in the health sector, the cost of treatments of critical diseases have increased thus leading to the exhaustion of the financial savings of the individuals. Critical illness plans give the people a sense of peace when it comes to the treatment costs.
  • Covers like add-on plans, super top-up covers, top-up plans, and much more are available to enhance your existing critical illness insurance policy. These add ons can be included based on one's financial budget.


You can buy a critical illness plan for yourself or your loved ones, based on the complexity of the medical condition and make sure that your requirements have been met under the purchased policy. You must go through the fine print of the plan carefully to avoid any confusion at the time of the claiming procedure.

Must Read: Cancer Insurance Plan Vs Critical Illness Insurance Plan: Which Is Better?

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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