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Contact UsCritical illness insurance is designed to provide coverage for serious and prolonged illnesses that demand costly medical treatment. Many health insurance plans offer critical illness rider cover, which can be availed by paying an extra premium. This additional coverage assists the insured in paying for high hospitalization and treatment costs.
Critical Illness Policy is an insurance product that provides coverage against life-threatening critical diseases, such as cancer, heart attack, and renal failure. The policy offers a lump-sum amount that can cover expensive medical expenses related to the critical illnesses listed in the policy.
These are the characteristics of critical illness insurance plans:
Coverage for Critical Illnesses
These plans cover up to 36 major critical illnesses, including cancer, tumors, heart ailments, and kidney failure.
Lump-sum Payment
The insurer offers a lump-sum payment to cover the medical expenses for the covered illnesses.
Simple Claim Process
Claim processing is straightforward and based on the diagnosis report(s).
Waiting Period
Coverage is typically provided after the waiting period has ended.
Income Loss
A portion of the lump sum payment can be used to replace lost income.
The following illnesses are typically covered by critical illness insurance plans:
cancer up to a specified stage
first-time heart attack
open heart coronary artery bypass grafting
open heart replacement or repair of heart valves
coma of specified severity
kidney failure that requires regular dialysis
stroke
major organ transplant
bone marrow transplant
permanent paralysis of limbs
motor neuron disease (ALS)
multiple sclerosis
aplastic anemia
bacterial meningitis
loss of speech
end-stage liver disease
deafness
end-stage lung disease
fulminant viral hepatitis
major burns
muscular dystrophy
It's important to note that the specific list of covered illnesses may vary depending on the insurance provider and policy details.
The following are typically excluded from critical illness insurance plans:
Any critical illness diagnosed during the waiting period
Death within 30 days of critical illness diagnosis or surgery
Critical illness caused by smoking, tobacco, alcohol, or drug use
Critical illness caused by internal or external congenital disorders
Critical conditions related to pregnancy or childbirth
HIV/AIDS
Illness caused by war, terrorism, civil war, navy, or military operations
Dental care or cosmetic surgery
Infertility treatment or reproductive assistance
Hormone replacement therapy
Treatment received outside of India
In today's sedentary lifestyle, critical illnesses are on the rise, affecting people at increasingly younger ages. Anyone can be affected by these illnesses, which can drastically impact their ability to work and earn a living. To avoid financial crisis, critical illness insurance is essential.
Individuals with a family history of critical illnesses should strongly consider purchasing critical illness insurance. Primary breadwinners are also at high risk, as their illness can impact the financial future of their family. Those in high-pressure jobs should also consider this type of insurance, as studies have shown that these individuals are more susceptible to critical illnesses. Finally, people over the age of 40 are more prone to developing these illnesses, making it important for them to consider a critical illness insurance policy.
The cost of treatment for critical illnesses is on the rise, with specialized treatments costing a fortune. Critical illness insurance can provide financial support during such challenging times, allowing individuals to focus on recovery rather than financial stress. With the help of critical illness insurance, individuals can receive timely medical treatment without worrying about the high medical expenses.
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