Advantages and exclusions of critical illness insurance policy

Critical illnesses are diseases and conditions that include but are not limited to cancer, stroke, organ transplants, and kidney diseases among other health conditions. Critical illnesses are expensive, disruptive to one’s way of life and may lead to disability. A critical illness health insurance policy helps you to mitigate such emergencies which if unattended would be fatal by providing an affordable illness plan.

A sum of the assured amount is paid to the policyholder by the insurance company if diagnosed with a critical illness. The best critical illness health insurance plans cater to hospitals costs and the long recovery periods required.

Key features of a critical illness health insurance policy

Critical illness health insurance policies cover a specific purpose and should therefore offer have some key features

  • Depending on insurance providers, there is an applicable waiting period after diagnosis before compensation is paid out.
  • The best critical illness insurance plans offer a sum assured as a lump sum payment post-hospitalization.
  • When applying for a critical illness health insurance policy, ensure all the pre-medical check-ups required are done accurately to avoid disqualification on a technicality. This is also mandatory for people over 45 years of age.
  • Compare critical illness insurance plans online and get one that offers day care procedures cover. This will cover patients undergoing kidney dialysis treatment.
  • Understand what is covered in your health insurance policy and what is not. Online critical illness insurance providers do not offer pre-existing disease cover unless a certain period of time has elapsed on your policy without interruption. It is also practical to know the number of medical conditions covered.
  • Ensure your health insurance provides a list of cashless network hospitals where emergency treatment can be availed hassle free.
  • While requesting for critical illness insurance quotes, consider insurance providers who have a daily allowance benefit to cater for the income the policyholder is losing.
  • A critical illness health insurance plan with a low waiting period so as to reduce the amount of money that you may have to spend before reimbursement
  • Request for a critical illness insurance quote that has the most affordable premium. While doing so remember that the cheapest insurance policy is not always the best

Advantages of a critical illness insurance policy

  • A critical illness insurance plan protects your savings and protects you from financial ruin brought about by illness.
  • Most health insurance providers offer financial aid during the recovery period. This facility is not available with other basic insurance policies.
  • A policyholder with a critical illness insurance plan also enjoys tax relief similar to other insurance plans.
  • As per online critical illness insurance information provided by most insurers, a policyholder enjoys free regular check-ups.
  • A critical illness health insurance plan is renewable.

Exclusions of a critical illness health insurance policy include:

  • Illnesses that are caused by lifestyle choices such as substance abuse and smoking are not covered.
  • Enhancement surgeries such as breast lifts or ailments resulting from such procedures are not covered by this health plan.
  • Dental and infertility treatment is not covered by a critical illness insurance policy.
  • Diagnosis within the first 90 days from the date of policy inception.
  • Treatment sought outside India.


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