The New Indian Express has stressed the significance of critical illness cover in health insurance policies. It’s a lifesaver. Quoting industry experts, they advise individuals to opt for a cover of at least ₹5-10 lakh to ensure financial stability in case of a critical illness. As of March 29, 2026, 17:45:50 GMT, this advice is particularly relevant in India, where medical expenses can be exorbitant.
And, with the rising cost of treatment, having a critical illness cover can be a godsend. For instance, a heart transplant can cost upwards of ₹20 lakh, while cancer treatment can cost between ₹5-10 lakh, depending on the type and stage of the disease. But, with a critical illness cover, policyholders can receive a lump sum payment of up to ₹10 lakh, which can help them cover these expenses. That’s a big chunk of change.
According to Dr. Tarun Gupta, a renowned oncologist at the Tata Memorial Hospital in Mumbai, “Critical illness cover is essential for everyone, especially those with a family history of diseases like cancer, heart disease, or stroke.” He’s blunt: it’s crucial to have a cover that can provide financial support during a medical emergency. Treatment costs can be crushing.
The numbers bear this out. As per the data available on the Insurance Regulatory and Development Authority of India (IRDAI) website, the number of health insurance policies sold in India has increased by 15% in the last fiscal year, with over 50 million policies sold. That’s a lot. And, with the government’s efforts to increase health insurance penetration, experts expect this number to grow further.
For example, policyholders can opt for the critical illness cover offered by insurers like Apollo Munich, which provides a cover of up to ₹10 lakh for 15 critical illnesses, including cancer, heart attack, and stroke. The premium for this cover starts at ₹500-₹1,000 per month, depending on the age and health condition of the policyholder. It’s a rare admission, but even insurers acknowledge that treatment costs are likely to rise further.
But it’s crucial to carefully read the policy document and understand the terms and conditions before opting for a critical illness cover. Policyholders should check the list of covered illnesses, the sum insured, and the premium payable. Don’t forget the waiting period, which can range from 30 days to 90 days, depending on the insurer. It’s a hassle, but it’s worth it.
Several insurers have introduced innovative products that offer critical illness cover as an add-on or as a standalone policy. For instance, finance news has reported that ICICI Lombard has launched a critical illness cover policy that provides a cover of up to ₹25 lakh for 15 critical illnesses. That’s unusually comprehensive.
As the demand for health insurance policies continues to grow, it’s essential for policyholders to prioritize critical illness cover. With the government’s efforts to increase health insurance penetration, experts expect the number of policies sold to grow further. But, it’s crucial for policyholders to carefully evaluate their options. No two policies are alike.
In conclusion, critical illness cover is a crucial component of health insurance policies in India. With the rising cost of medical treatment, it’s essential for individuals to opt for a cover that can provide financial support during a medical emergency. Dr. Gupta’s words are worth repeating: it’s crucial to have a cover that can provide financial support during a medical emergency. It’s that simple.
Therefore, policyholders should prioritize critical illness cover. Carefully evaluate your options. Don’t rush in. And, with the increasing awareness about the importance of critical illness cover, experts expect more individuals to opt for this cover in the future. It’s about time.
