Articles

Critical Care Health Insurance

by Rahul R. Car, Health and Travel Insurance Expert

It can almost be unanimously assumed that you are already in possession of a comprehensive, all encompassing, health insurance plan. But sometimes when your luck goes south and you end up with a critical illness which requires critical care, you may have to consider getting an insurance policy that covers critical care because in such a case your normal insurance coverage may not cover the cost of the illness, no matter how comprehensive it may be. So getting a critical care health insurance saves you from having to pay the cost of the illness from your own pocket because this insurance pays a lump sum amount for the cost of the illness. 

Why Should You Consider It?
In case of any critical illness, this critical care health insurance would give you a lump sum amount of money as you would be unable to work in such a condition and hence be unable to earn money, pay debts or afford expensive treatment etc. ensuring that you don't have to worry. This type of insurance can also complement your health insurance policy. A critical care health insurance is cheaper than your average indemnity plan because for an insurance of about 6 lakhs, a person has to pay around Rs. 6000 per year whereas for critical care coverage, the person has to pay Rs. 1500 annually. This is because a comprehensive health policy covers a lot of other health issues that is why it is more expensive, whereas the critical care health insurance covers only a few specific critical illnesses and hence is less expensive than a comprehensive coverage. 

Companies Selling Critical Care Health Insurance
Critical care health insurance is sold by most life insurance as well as general insurance companies. Some companies provide longer tenure than others like LIC which perhaps has the longer tenure. Then we have ICICI Prudential's Life Insurance that provides tenure of about 50 years, and then there is ICICI Lombard's critical care health insurance which lasts for only about 5 years. So, different insurance companies sell critical care health insurance at different tenures. Similarly, different companies have different clauses which protects against a number of specified illnesses only for instance, ICICI Prudential covers 35 illnesses whereas Aviva critical care covers only 12 illnesses. 

General Illnesses Covered
Despite the differences in the clauses and the time limit provided by different insurance companies, most of them agree on the type of critical illnesses they would cover. Some of the critical illnesses covered by most companies are:

* Cancer

* Pulmonary Diseases

* Major Organ Transplant

* Multiple Sclerosis

* Strokes

* Kidney Failure

* Paralysis

Some companies may include even more illnesses.  

Before Buying a Policy
* Take into consideration the medical history and age of the person because these are major determinants of the amount to be insured. 

* Check the medical history of the family to trace any heart diseases or any other major genetically transmuted diseases and find out if these are covered by the insurance.

So critical care health insurance is the one step towards a stress-free recovery. 



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About Rahul R. Junior   Car, Health and Travel Insurance Expert

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Joined APSense since, August 11th, 2015, From Mumbai, India.

Created on Dec 31st 1969 18:00. Viewed 0 times.

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