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Get Lowest Rates for Critical Illness Insurance

Mediclaim Plans starting @ Rs 250 / month

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  • Critical Illness Insurance
  • Eligibility
  • Benefits
  • How to Claim
  • Importance
  • Choose Best Plans
  • Required Documents
  • Frequently Asked Questions

Critical Illness Insurance

You might debate that as you are covered in a comprehensive health insurance plan and also under a group medical policy offered by your employer, you do not require any additional coverage. Well, yes, but any critical illness calls for specialized treatment & care and as your comprehensive health plan has limitations on hospitalization, doctors' fees, etc. it will not cover the entire medical expense towards treatment.

According to the World Health Organization (WHO), Cardiovascular Diseases, Cancer, Stroke, and Chronic Obstructive Pulmonary Diseases are significant health ailments in India that require critical illness coverage.

Buy Best Critical Illness Insurance Plans in January 2022
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Reliance General Insurer
Amount Covered: ₹ 1 Lakh
Deal Price: ₹ 2,094 / Year
Waiting period: 4 yrs
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Buy Critical Illness Insurance Plans Online

Who All Can Buy Critical Illness Insurance Cover?

The minimum entry age to purchase this critical illness and disability insurance rider is 18 years and max age is 65. Both male and female buyers can opt for the critical illness cover at the same premium rates while purchasing a base life insurance plan.

Benefits of Buying Top Critical Illness Insurance

The key benefits are:

Cover provided for life threatening diseases
Coverage is provided for up to 36 life threatening diseases
Convenient fast claims process
Convenient, fast, hassle-free claims process
lump sum payment
The sum assured provided is in the form of lump sum payment
terminal illness
100% benefit payout upon diagnosis of terminal illness
Provides accidental death benefit
Provides accidental death benefit.
Protection against disability
Protection against disability
Tax Benefits
Tax Benefits under Critical Health Insurance
buy critical illness health insurance plans online
Compare & Buy Critical Illness Insurance Plans
Get upto 60% discount

Best Critical Illness Insurance Plans by Insurer

What is Covered? Entry Age Sum Insured
Care Super Mediclaim Critical Illness Plan
5 years to 50 years
Available
Aditya Birla Activ Secure - Critical Illness Plan
1 year to 65 years
Maximum Rs. 50 Lac
National Critical Illness Plan
18 years to 65 years
Rs.1 Lack to 75 Lack
SBI Critical Illness Plan
18 years to 65 years
Rs.2 Lac to 50 Lac
Bajaj Women Specific Critical Illness Plan
25 years to 55 years
Rs.50K to Rs. 2 Lac
Care Assure Critical Illness Plan
18 years to 65 years
Rs.5 Lac to Rs. 1 Crore
Cholamandalam-ms Critical Healthline Plan
5 years to 65 years
Rs.3 Lac to 10 Lac
Bharti AXA Smart Health Critical illness Plan
3 months to 55 years
Rs.2 Lac to 5 Lac
TATA AIG Critical Illness Plan
18 years to 65 years
Rs.2.5 Lac to 15 Lac
HDFC ERGO Critical Illness Platinum Plan
5 years to 65 years
Rs. 1 Lac to 50 Lac
Bajaj Allianz's Critical Illness Insurance Plan
18 years to 65 years
Rs. 1 Lac to 5 Lac

How to Claim Critical Illness Cover?

how to claim critical illness cover

Types of Health Insurance Plans

Corona Kavach Policy
Corona Kavach Policy
Corona Rakshak Policy
Corona Rakshak Policy
Arogya Sanjeevani Policy
Arogya Sanjeevani Policy
Individual Health Insurance
Individual Health Insurance
Family Floater Insurance
Family Floater Insurance
Group Health Insurance
Group Health Insurance
Personal Accident Insurance
Personal Accident Insurance
Maternity Health Insurance
Maternity Health Insurance
Health Insurance for Senior Citizens
Health Insurance for Senior Citizens
Women Health Insurance
Women Health Insurance
Cancer Insurance
Cancer Insurance
Cashless Health Insurance
Cashless Health Insurance

Importance of Critical Illness Insurance

Any major sickness or illness can have a debilitating effect on the patient’s life. It leads to huge medical treatment costs and the same time leaves the family members shattered both emotionally as well as financially. At such circumstances, a Critical Illness Insurance comes as a real saviour, guaranteeing financial protection whenever there is shortage of funds for getting the patient treated. Here, the insurance company offers an amount in lump sum in case the insured gets diagnosed with any of the critical illnesses mentioned in the policy document. Covering the medical costs of the patient as well as the day-to-day expenses of the family members would be taken care by the Critical Illness Insurance Plan.

How to Choose the Best Critical Illness Insurance?

Mentioned below are the factors that you need to keep in mind to select the best critical illness insurance:

  • Coverage: It makes sense to opt for a product that provides maximum coverage. Here, it is important that you figure out the number of critical illnesses that are covered under the plan. The more coverage for illnesses, the better the insurance policy.
  • Total Ailments Covered: One of the first few things you need to consider before freezing on any Critical Illness insurance is to check the total critical ailments covered by the policy. While some plans like HDFC Ergo Critical Illness Insurance covers 8 critical ailments, Religare Assure plan covers as many as 20 major illnesses. Hence, it’s imperative to properly research the plans before finalizing on one.
  • Built-in Coverage: While the critical Illness plan is aimed to provide financial armor against the detection of any major life threatening disease, some insurance companies offer several built in coverages. Personal Accident Cover, Child Education Benefit, Hospital Cash, Complementary Health Checkup, etc. are some of them so that your loved ones are least affected in situations you are incapable of supporting them financially, as the illness strikes.
  • Pre-existing Disease: While some plans will cover any pre-existing diseases after a waiting period of 48 months, plans like Religare Assure does not cover them at all. Hence, one need to do a careful assessment on what’s covered in pre-existing clause.
  • Free-look: Mostly, all insurance companies offer a free-look period of 15 days to review your decision. During this period, if you find the plan unsuitable to your needs, you can request for cancellation and subsequent refund.
  • Tax Benefit: As per the prevailing rates of the Income Tax Act, 1961 (u/s 80D), you can avail the tax benefit on the premium you pay towards the premium.
  • Survival & Waiting Period: Usually critical illness policies have a survival clause of 30 days from the date of diagnosis for the person who is insured. A waiting period of 90 days too should be adhered from the beginning of the insurance policy. Also, there is a waiting period for the pre-existing diseases which is around 3 to 4 years. Opt for the critical illness cover that has a limited waiting and survival period.
  • Sum Assured: Opt for a critical illness cover that offers a cover of that sum assured you wish to opt for in case of an emergency.
  • Incurred Claim Ratio: Insurer’s keeping up their promises to settle your claim on-time and hassle-free is what you should be looking for. Incurred Claim Ratio is what you should look out for while opting for a good critical illness health insurance.

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Choose the Best Critical Illness Plans based on different factors
Get upto 60% discount

Top Health Insurance Companies January 2022

HDFC ERGO
HDFC ERGO Health Insurance
Reliance
Reliance Health Insurance
Oriental
Oriental Health Insurance
Bharti AXA
Bharti AXA Health Insurance
Royal Sundaram
Royal Sundaram Health Insurance
National
National Health Insurance
SBI
SBI Health Insurance
Liberty General
Liberty Health Insurance
Universal Sompo
Universal Health Insurance
ICICI Lombard
ICICI Lombard Health Insurance
United India
United India Health Insurance
Bajaj Allianz
Bajaj Allianz Health Insurance
IFFCO TOKIO
IFFCO TOKIO Health Insurance
LIC
LIC Health Insurance
Care
Care Health Insurance
Raheja
Raheja QBE Health Insurance
Niva Bupa
Niva Bupa Health Insurance
New India Insurance
New India Health Insurance
TATA AIG Insurance
TATA AIG Health Insurance
Aditya Birla
Aditya Birla Health Insurance
Star
Star Health Insurance
ManipalCigna
ManipalCigna Health Insurance

Documents Requirement for Critical Illness Insurance Plan

The Below Documents Would Be Required For Applying For A Critical Illness insurance Plan:

  • Age Proof: The age proof can be any of these – Driving license, School/college certificate, Passport, PAN card, Birth Certificate.
  • Identity Proof: Voter ID, driving license, PAN card or Aadhar card can be used an identity proof.
  • Address Proof: Electricity bill, Bank account statement can be presented as the proof of address.
  • Income Proof
  • Duly Filled Proposal Form

Documents Requirement to Claim under Critical Illness Insurance Policy

To Initiate The Claim, The Insured Should Offer The Below Documents For The Initial Assessment Of The Claim:

  • Duly filled and signed claim form
  • Medical Certificate confirming the diagnosis of Critical Illness
  • A medical certificate, investigation test report, etc. from an attending Medical Practitioner authorising that the claim does not relate to any Pre-existing conditions or any Illness or Injury which was diagnosed within the first 90days of the inception of the Policy.
  • Discharge Card/ Death Summary from the hospital, if applicable
  • First Consultation letter and subsequent prescriptions
  • Specific documents listed under the respective critical illness
  • Know your client doc (KYC)
  • In the case critical illness arises due to an accident, FIR copy would be required.
  • Other medical or Pharmacy Bills along with the required prescriptions

Customer Reviews on Critical Illness Insurance Plan

  • Critical illness insurance cover offers you a lump sum amount in case of the diagnosis of the critical illness that is mentioned in the particular policy document. It covers an array of diseases such as kidney failure, heart attack, multiple sclerosis, coma, paralysis, stroke, etc.
  • The costs and time to treat these critical illnesses is sky high and therefore having a separate critical illness insurance plan in place would take care of all these costs and also help your family to manage their day-to-day expenses. Therefore, it is better you compare the critical illness covers of different insurers and then zero down on the best one.

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FAQ's On Critical Illness Insurance

Is Critical Illness Rider Available On Endowment Plans And Money Back Policies?

Riders may be attached to your insurance plans such as term plan, endowment plan, money back plan. The top critical illness rider plans are helpful in customizing your life insurance policy.

This rider covers 4 critical illness conditions: cancer, first heart attack, stroke, and open chest CABG. If you are diagnosed with any of these 4 critical illnesses, future premiums payable under the plan and riders (if any) are waived off while your life cover as well as other rider covers continue.

Why Should I Buy Critical Illness Insurance? Is It Important?

Life can throw bouncers at you when you’re least expecting them. You should buy a critical illness plan for yourself and your family members to battle financial challenges if diagnosed with a critical illness. With a critical illness plan you can receive a lump sum amount that:</p>

  • Pay off debts
  • Takes care of treatment cost
  • Covers loss of income due to inability to earn

Can I Make Multiple Claims For The Same Illness Or Any Other Critical Illnesses That Are Listed?

During the policy period, you are allowed to make only one claim on any of the listed critical illnesses mentioned in your policy document.

  • As soon as you make a claim, the lump sum amount shall be paid out for the particular critical illness. The policy would be automatically terminated and subsequent renewals would be allowed in the policy of the particular insured person. If at all the policy has been issued to more than one individual then the policy shall still remain active for the other policy members.
  • Certain insurance policies continue other benefits except for the one which you already made the claim.
  • If you are making a critical illness claim then the hospitalization expenses incurred will be paid under Health Insurance. The Lump sum benefit will be paid after the survival period under Critical Illness cover. It is always better to speak to your insurance company about this clause as some insurers may allow you to make more than one claim.

I Wanted To Understand How Is The Premium Determined For Critical Care plans?

Premiums for critical care insurance are determined on the sum insured stated in the policy document, the complete policy tenure, gender and health status of the insured person. The premiums vary from one individual to another depending on all these factors mentioned above.

Is it better to take Critical Illness Cover or Health Insurance?

A critical illness cover offers you a lump sum amount in case of diagnosis of the critical illness that is mentioned in the policy document. However, a health insurance reimburses the medical expenses borne by you. Hence, it is better that you buy a separate critical illness cover.

Can I purchase a Critical Illness Insurance Policy Online?

Yes, you can purchase a critical illness insurance policy online. You can go on the particular insurer’s website to get the needful done.

Who Should Buy a Critical Illness Plan?

Critical Illness Insurance Plan is intended to shield you with a strong financial backup in case you’re diagnosed with any of the major illnesses. The money you claim on your policy can be used to pay off mortgage, children’s education, home improvement, medical treatment, etc. – just the way you want. Opting for a critical Illness cover will be an ideal choice for you, if -

  • You have not suitably arranged to save for the rainy days
  • Your health plan or the employer insurance cover isn’t sufficient to cope with any expensive medical care
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Mediclaim Plans starting @ Rs 250 / month

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