What Is A Critical Illness Health Insurance Plan?

By Author: Reshma
Total Articles: 22
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Many health insurance companies offer critical health insurance plans, but do you know what a critical health insurance plan is? If not, you must know every detail about it to choose the best critical illness insurance in India.
Keep reading, as here we will tell you what critical illness health insurance and its key features are.
What is critical health insurance?
A critical health insurance plan is a health insurance type that is designed to cover the medical expenses of life-threatening illnesses. It generally covers pre-specified and acute illnesses like cancer, stroke, renal failure, heart attack, etc., that take a long time to recover from and require expensive treatments. Critical health insurance plans provide lump sum money to cover medical expenses, including diagnosis, treatment, and other expenses, and offer financial support to the policyholder during a crisis.
Key features of critical illness health plan
Critical health insurance policies offer medical expenses for critical and life-threatening illnesses like stroke, heart attack, coma, etc. These ...
... plans have some unique features that make them different from other medical insurance. Here we will share some essential features of critical health insurance plans –

1. Depending on the insurance policy, the insured lump sum will be paid out either after diagnosis or hospitalisation.


2. Critical health insurance plans need patients to cover 15 to 30 days of survival period after being diagnosed with a critical health problem to claim the money.


3. Critical health insurance plans have a list of critical health problems, and if the insurer gets diagnosed with any of these illnesses, they get paid off with a lump sum.


4. The insurer can only get benefits of the scheme for a pre-existing medical problem if they have paid uninterrupted premiums for a specific time (usually for 4 or more years, depending on the insurance clause).


5. Every insurer under this scheme will get a list of cashless hospital networks to get cashless health  care services if needed.


6. Critical health insurance plans also cover daycare services, and insurers can get paid off for getting a daycare service for their illnesses.


7. Applicants must go through pre-policy medical checkup (above 45 years of age)
Many critical health insurance policies also offer death benefits for accidental deaths.

Who should choose a critical health insurance plan?
Choosing the right health care solutions from a good health insurance company helps you to safeguard yourself and your family against future medical expenses. And a critical health insurance policy allows the insurer to get financial aid for acute and debilitating illnesses. However, the critical health insurance premiums are a bit expensive as the plan offers expensive coverage against critical illnesses like heart attack, renal failure, coma, etc.

And here are some specifications about who can opt for a critical health insurance scheme-

1. Any Indian citizen above 18 years and below 65 can benefit from critical health insurance plans.


2. People with a family history of critical health issues like heart problems, cancer etc., can opt for critical health insurance plans.


3. People at risk of developing an acute or critical illness can choose this scheme.

4. The sole earner of a family.


5. Older adults but below 60-65 years.

What does a critical illness policy cover?
Critical health insurance policies are meant to cover all the medical expenses of chronic and life-threatening illnesses and bring various benefits to the insurer, including tax benefits under Article 80C. But a critical illness plan has a list of inclusion and exclusion to determine what expenses the policy will cover and what will not. The exclusion and inclusion list may differ from one scheme to another, but all insurance providers follow the IRDAI rule. And you can get the list from a provider’s website.
Conclusion
Critical health insurance plans are beneficial to provide extensive coverage for critical illnesses. And if you want the best critical illness coverage, you must opt for LivLong, which offers India's best critical illness policy.