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Various diseases coverage under critical illness insurance

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Published on May 27, 2021. EST READ Time: 3 minutes

The modern times have seen a whole lot of progress in science and technology. There are newer and improved treatments for critical diseases which were not available earlier. As such, life expectancy has increased. However, one cannot ignore the rising incidence of diseases too. Modern man is increasingly falling ill with major illnesses. Heart-related ailments, cancer, organ transplants, etc. are victimizing more and more individuals. Against the cases of rising illness, medicine too has become expensive. A simple hospitalization drains you of thousands of rupees. Imagine if you contract a critical illness. Do you know the costs involved?

Critical illnesses and their treatments impact on your health and your savings. Having a critical illness plan, therefore, becomes necessary. These plans help provide the required funds for managing your critical illness. Do you know what such plans are and how they help?

What is a critical illness insurance plan?

Critical illness insurance is your safety guard when you are diagnosed with life-threatening diseases. A critical illness plan is an additional cover that provides a lump-sum amount, which can be used for treatment of a specific critical illness and its recovery. In critical illness, the payout is fixed, which means, you get that amount regardless of hospital expenses. If you are left with a surplus amount a fter paying the medical expenses, you can utilize to pay off any debt.

Critical Illness Insurance policy covers up to 15 listed critical illnesses like cancer, First heart attack, stroke, paralysis, kidney failure, multiple sclerosis and major organ transplant. In such critical times, to ensure you stay away from financial worries and focus only on health, The policy pays the sum insured in one go. The policyholder also gets the flexibility of buying the critical illness plans for 1 or 2 years as per the convenience and requirement. One can choose between the Silver plan with 8 listed critical illness and Platinum Plan with 15 listed critical illness

In critical illness policy, the policyholder gets the sum insured after a survival period of 30 days* from the date of diagnosis of a listed critical illness. A Claim is admissible after a waiting period of 90 days since the inception of the first critical illness policy. It is a one-time plan and lapses once the insurance cover is used by the policyholder.

While you recover with minor ailments and surgeries within days, recovery from a critical illness may require many days. And as days pass, the medical expenses start mounting. This takes toll on ones earnings especially when he/she is the sole earner, this can complicate things and drain the family of its savings. While a standard health insurance policy may not be fully equipped to cover all the treatment expenses of theses prolonged illness, having a critical illness insurance policy will surely help and you will be able to focus on opting for the best medical treatment facilities available.

Conclusion

To ensure that no major illness puts a dent in your savings, you should get a Critical Illness Insurance. The critical illness policy has sum insured ranging from INR 5 lakhs, INR7.5 lakhs and INR 10 lakhs^, pick a plan that suits your budget and needs. Stay secured, stay safe!

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before concluding the sales.

* option to choose a survival period of 15 days , terms and conditions apply HDFC ERGO General Insurance Company Limited. Registered & Corporate Office: 1st Floor, HDFC House, 165-166 Backbay Reclamation, H. T. Parekh Marg, Churchgate, Mumbai – 400 020. Trade Logo displayed above belongs to HDFC LTD and ERGO International AG and used by HDFC ERGO General Insurance Company Limited under license. For more details on the risk factors, terms and conditions, please read the sales brochure/prospectus before concluding the sale. UIN: Product Name Critical illness insurance HDFHLIP 21464V022021. IRDAI Reg. No.146 CIN: U66030MH2007PLC177117.