Critical Illness Insurance


Having a health insurance policy is very common in the present day. But there are few severe life-threatening diseases (cancer, heart attack, kidney failure, etc.) that do not get coverage under a basic health insurance policy. So, health insurance companies launched the Critical Illness Insurance Policy. It provides coverage for specific life-threatening diseases along with a lump sum amount for a higher sum insured option. The insured just needs to focus on his/her recovery. These critical illness health insurance policies help to fight financially with the situations when the insured is struggling between life and death.

Types of Critical Illness Insurance Policy

1. Individual Critical Illness Insurance Plan

Here all the plan benefits will be only offered to an individual. The features and benefits of the plan will be limited to a single person.

2. Family Critical Illness Insurance Plan

This plan caters to the healthcare needs of an entire family. All members are covered in the plan and can apply for a claim as per the Tanks of the policy.

What does the Critical Illness Insurance Policy Cover?

Critical Illness insurance is a benefit policy which covers 10 Critical Illnesses. A lump sum amount would be paid on diagnosis of one of the listed critical illness subject to the policy terms and conditions:

Critical Illnesses covered under the policy:

  • First Heart Attack (Myocardial Infarction)
  • Open Chest CABG (Coronary Artery Disease Requiring Surgery)
  • Stroke Resulting in Permanent Symptoms
  • Cancer of Specified Severity
  • Kidney Failure Requiring Regular Dialysis
  • Major Organ Transplantation
  • Multiple Sclerosis with Persisting Symptoms
  • Surgery of Aorta
  • Primary Pulmonary Arterial Hypertension
  • Permanent Paralysis of Limbs

What is the entry age?

  • Entry age for proposer/Spouse is 18years – 65years.
  • Entry age for dependent Children is 6 years -- 21 years.

What is the policy period?

  • This is an annual policy

What are the Sum Insured options available?

  • Sum Insured options of `100000/- to `5000000/- for age group 6 years to 60 years
  • Sum Insured options of `100000/- to `500000/- for age group 61 years to 65 years

What are the advantages of Critical Illness Insurance cover?

  • The benefit amount is payable once the disease is diagnosed meeting specific criteria and the insured survives 30 days after the diagnosis.
  • The insured member can utilize this amount for treatment of the disease, lifestyle changes, donor expenses or a planned treatment outside India etc.
  • Hassle-free In-House claim process
  • Premium paid is exempt under section 80-D of Income Tax Act.
  • Competitive premium rates.

What are the Pre policy Medical examination Criteria?

  • Prepolicy Medical examination would be advised based on the age, Sum insured opted and the adverse health declaration on the proposal form (if any).
  • The pre-policy check-up would be arranged at empanelled diagnostic centres.
  • The validity of the test reports would be 30 days from date of medical examination.
  • If pre-policy check-up is conducted in our panelled diagnostic centre, 100% of the standard medical tests charges would be reimbursed, subject to acceptance of proposal and policy issuance.