Here's All About The Critical Illness Health Insurance

Published on 20-Jan-2023

What can be more threatening than a critical health problem afflicting our wellness and peace of mind? Nowadays, a large segment of the population is under the threat of several critical illnesses and loss of their health. In recent past years, a major death rate has been reported due to critical health issues such as cancer, diabetes, blood pressure, CVD and kidney failure, etc. Almost 61 percent of the death rate in India occurred due to afflictions of non-communicable diseases in 2016.

The study published by ICMR State Level Disease Burden has reported a total death of 58,17,000 people due to critical illnesses in 2016. The above data emphasizes the requirement for better medical facilities and financial aid during a medical emergency.

Critical illnesses can be a result of several factors such as poor diet, sedentary lifestyle, and ignorance of health practices, influencing general health for a long time. But, with the right health plan, we can minimize the risks of any misfortune or severe health complications.

A better health protection insurance plan offers you long-time reliable health coverage and financial security to assist you during a time of medical emergency. Depending on the premiums and type of your chosen health insurance plan, it guarantees to offer you a favorable sum assured and other medical benefits.

Let us know all about the critical illness health insurance plan and how it's different from your common health plans.

What Is A Critical Health Insurance Policy?

A Critical Health Insurance or Critical Illness Cover is specifically offered to provide you with comprehensive health coverage for critical illnesses covered under the policy agreement. It may act as a complementary health insurance plan to your general health policy, to render more benefits and financial assurance. This protection cover benefits you and your family during a medical emergency by fulfilling financial needs and medical expenses.

A critical health insurance plan offers you the required financial backing and coverage benefits that include the cost of diagnostic tests, hospitalization, daycare, doctor fees, and other medical expenses. All critical illnesses insurance benefits are covered for the 40 major critical health problems mentioned in the policy agreement.

In case you are diagnosed with any of the critical health issues which are enlisted in your health plan, then the total sum assured of the policy would be transferred to the policyholder's bank account once your claim is processed. You can use this insurance financial aid for your treatment, recuperation, medical expenses and doctor fees, and other daily household expenses.

A health insurance claim on your critical illness plan will be processed after verifying medical reports and diagnosis of your medical conditions. The benefits would be offered as per the terms and conditions mentioned in the policy. Your insurer will disburse your plan on the basis of your present health conditions, the status of pre-existing diseases, and the age of the applicant.

What Are The Benefits Of A Critical Illnesses Insurance Plan?
Let us discuss the advantages associated with critical illness insurance cover & how it can help you to shape a better future and secure a financial shield for you and your family members. What does your plan include in health coverage for a senior citizen member? Below are some general benefits that can keep you stress-free about your critical health issues:

1. Critical Illnesses Benefits: Almost 40 major critical illnesses such as cancer, heart issues, hypertension, stroke, paralysis of limbs, kidney failure, deafness, muscular dystrophy, etc, are covered under this plan.
2. Tax Benefits: A policyholder can avail of exemption on tax under section 80D of the Income Tax Act, 1961. You can avail of an exemption on the tax of RS 15,000 whereas a senior citizen can avail of a tax exemption of Rs 20,000.
3. Avail of No Claim Bonus NCB: You may avail of No Claim Bonus NCB on your plan to get a discount on your successive premiums. No Claim Bonus is a reward that is offered by an insurance company to a policyholder for a claim-free year. It adds a deduction of the amount on the successive premiums for the next year of the active policy.
4. Acts as a complete health cover: It offers monetary coverage for all your medical expenses and other daily household expenses. It financially secures you and your family from an episode of critical health issues.
5. Simple Claim Process: To obtain insurance benefits under a basic sickness protection plan, hospitalization is not needed. You can make a claim on the basis of your indicative reports.
6. Short Waiting Period: Under a critical illness insurance plan, you may avail of insurance benefits under a short waiting period. This implies that you need not wait for longer to obtain your insurance coverage/benefits.
7. Avail Cashless Facility: You may avail of a cashless facility for your several medical expenses including hospitalization, doctor visit fees, daycare and ambulance charges, etc.

Get A Critical Illness Insurance Plan With Policy.Online
Here, we at Policy.online provide the best and most relevant critical health insurance solutions from the most reputed insurance companies in India. Buying a health insurance plan with Policy.online is an easy, simple, and step-by-step process. We adhere to our values and principles to support customers by providing trustable insurance services and protecting them from any fraud. We are happy to serve society by ensuring their safety through means of monetary and financial support.