Merits of Critical Illness Policy
•A critical illness rider or policy can provide you amount to treat your pre-mentioned serious illness that can protect you from monetary loss that you may face if you are caught in any disease trap.
•You might get compensation for medical examination and of course will be provided age benefit.
It indemnifies the expense of healing, treatment and care of your disease or sickness; therefore, you can enjoy your same old lifestyle without making any adjustment.
•If you invest on critical illness policy then as per section 80 D, you will enjoy tax benefits.
What are covered?
When you compare health insurance policy, you may want to see what riders it provides and what area a particular add-on can offer you. Therefore, below is the list of diseases that a critical illness rider can cover-
Organ Transplant- Suppose, if an of your organ got damaged because of some reason or mishap and you are in immediate need of transplantation and at that time this rider will come handy and will pay on your behalf for the transplantation.
Kidney Failure- Kidney is essential for human being as it removes the waste material out of your body and keeps your inner body clean. Thus, you need to take care of it and keep it healthy but if it fails you may fail in life. Hence, you can use this rider to make sure your kidney always work no matter what.
Cancer- Cancer is one of the most life threatening disease and you may not be able to fight it without spending tons in your treatment. So, this add-on will ensure that you always have money to beat this kind of disease without making hole in your pocket.
Multiple Sclerosis- It is the damage of your nervous system that effects the communication between brain and other organ and of course nobody wants that so in that case this rider will act as boon.
Heat Attack, paralysis, coma, burns these are other few diseases that can destroy your life or may even end it if you do not treat them on time. Some of these may never be cured but can definitely be controlled if you are able to pay huge chunk on the treatment but it becomes quite hard for you to pay these kinds of diseases without compromising with your lifestyle or bank balance, thus this rider gives you the support that you need.
What are not covered?
Not everything is covered under critical illness policy. There are few exceptions. Such as-
The illness caused by excessive smoking, consumption o f drugs or alcohol.
The pr-existing diseases that was not mentioned before.
The injuries, illness or diseases caused by terrorism, war or any battle.
If you die within 30 days of finding about your serious condition then death claim will be rejected.
AIDS and HIV are not covered under this rider.
The inborn disease that means if any disease you may have from your birth time then it will not be covered under this add-on.
Pregnancy or child birth consequences are not headache of health insurance policy.
Compare and Analyze
There are several companies that provide you policies with critical illness rider option. Below is the chart of few company that provide health insurance and this rider-
Above are few, there are many other health insurance companies that provide you some necessary and beneficial add-ons. Just make the list and write down the features or benefits they provide. This way you can compare health insurance policy better and enjoy all the merits.
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