Critical Illness Cover Treatment of diseases is becoming increasingly expensive. Especially diseases like cancer or heart disease require heavy debt for treatment. Even general health insurance does not cover these. For this you will need critical illness cover. Let us know what is critical illness insurance and what things should be kept in mind while taking it?
There are many serious diseases, the treatment of which costs a lot of money. If you have taken a health insurance policy, then the treatment of common diseases will be covered in it. But, it will not be useful in case of serious diseases like cancer and heart attack. In such a situation, you will need illness cover (critical illness insurance).
What is critical illness insurance?
A lot of money is spent in the treatment of cancer or heart related diseases. Critical illness insurance covers these diseases. These include treatments like heart attack, cancer, kidney failure, paralysis, tumor, coma and organ transplant. The treatment of all these diseases is very expensive. Also, it lasts for a long time. In such a situation, critical illness insurance cover provides a lot of relief.
What are the benefits of critical illness cover?
In this, you get coverage of those serious diseases, in the treatment of which people’s entire savings are exhausted. In critical illness cover, there is no need for any medical check-up till the age of 45 years. In case of a serious illness, the company can also make lump sum payment to the policyholder. This also provides tax exemption under section 80D.
Which diseases are covered in it?
Critical illness insurance covers diseases like heart attack, stroke, cancer, paralysis, organ transplant and brain tumor. Before taking a critical illness insurance policy, you should also check the medical history of the family. This will help you know which diseases you should pay more attention to.
Problems with critical illness cover
- Critical insurance coverage premiums are quite high, especially if the patient is already suffering from a serious illness.
- It usually only provides coverage for serious illnesses or injuries, such as cancer, heart disease, or stroke.
- Critical insurance coverage often has a long waiting period during which you cannot make a claim for treatment.
- The terms and conditions can be complex, making it difficult to understand what coverage you will get.
- Critical insurance coverage premiums can increase over time, which can cost you more money.
