• Critical Illness Insurance

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    Overview of Critical Illness Insurance:

    Critical illness insurance plans are meant to provide health cover against pre-specified debilitating illnesses that can be very expensive to treat and usually take a long time for recovery. Such illnesses can be very destructive for individuals and their families as they result in extended and expensive diagnosis, apart from the inability to work and offset the expenses in some way.

    Key Features:

    Critical illness health insurance plans are meant for the specific purpose of providing a safety net against serious illnesses such as heart attack, paralysis, cancer, organ transplant, bypass surgery, kidney failure, coma, stroke etc. Typically, critical illness cover ranges between Rs.1 lakhs to Rs.10 lakhs, with higher coverage available on satisfying criteria set by individual insurers. Key features of health insurance for critical illness are:

    • Usually a 30 day grace period will be applicable after diagnosis (depending on insurer), with compensation being paid out on survival during this period.
    • Sum assured will be paid out as lumpsum post-hospitalization.
    • Pre-medical check-ups required for people over a certain age limit (generally 45 years).
    • Day care procedures can also be covered, wherein treatment such as dialysis that can be done within a few hours will be covered.
    • Pre-existing diseases are not covered under this health insurance plan, though most insurers allow cover for pre-existing diseases on completion of a certain period of uninterrupted premium payment (usually 4 years or more).
    • Most insurers will have a list of cashless network hospitals where treatment can be availed without payment of cash (settled by the insurer itself).

    Critical Illness Plans from Top Insurers:

    The top critical illness insurance plans in India are:

    Insurance Company Plan Name Features Link to Plan Details
    HDFC ERGO Critical Illness Insurance
    • The plan will provide you with coverage towards 8 critical illnesses, and the costs can be paid full with one lump sum amount after the diagnosis for the first time after survival of the 30 day period.
    • The 8 critical illnesses covered under this plan are: heart attacks, cancer, stroke, paralysis, kidney failure, major organ transplants, coronary bypass, and multiple sclerosis.
    • The coverage under this plan can be used for treatment payments, recuperation necessities, paying off loans if any, will be provided as income for loss of any due to the illness
    Info about Critical Illness Insurance
    New India Asha Kiran Policy
    • The policy is eligible for parents of only female children, and are in between the ages of 18 years - 65 years of age.
    • The New India Asha Kiran Policy covers medical and hospitalization expenses as well as congenital diseases and abnormalities
    • The policy cover pre and post hospitalization. And have 74 types of day-care treatments covered under this policy.
    • The policy also cover up to 1 % of the sum assured per day for room, board, and nursing expenses and 2% of intensive care unit expenses per day
    Info about Asha Kiran Policy
    Star Health CriticCare Insurance
    • This plan covers up to 9 critical illnesses, and the costs can be paid full with one lump sum amount after the diagnosis.
    • The policy covers both pre and post hospitalization for a 24 hours minimum.
    • The policy also covers non-allopathic treatments up to specified limits.
    • The 9 critical illnesses covered under this plan are: heart attacks, first diagnosis of cancer, stroke, paralysis, chronic kidney failure, brain tumour undergoing for the first time- major organ transplant, irreversible coma, and irreversible quadriplegia.
    Info about Critic Care Insurance
    Bajaj Allianz Critical Illness Plan
    • This plan covers critical illnesses, and the costs can be paid out in lump sum amount after the diagnosis if the insured survives 30 days post diagnosis.
    • The policy covers expenses of the donor in the case of a transplant, and is covered in both India and abroad as well.
    • The policy is eligible for anyone aged between 6 years - 59 years.
    • The critical illnesses covered under this plan are: cancer, coronary artery bypass surgery, heart attack for the first time, chronic kidney failure, stroke, aorta graft surgery, primary pulmonary arterial hypertension multiple sclerosis, and paralysis.
    Info about Critical Illness Plan
    Critical-Illness-Health-Insurance

    Understanding Critical Illness Insurance:

    1. Can I change the sum assured during policy tenure?

      The sum assured may be enhanced or reduced subject to approval from the insurer. In general, such changes, if allowed, can be done at the time of policy renewal.

    2. Can I substitute my health insurance policy with this plan?

      No, critical illness insurance is meant for providing cover for specific ailments only, and claims pertaining to unrelated health expenses will be rejected.

    3. Where can I use the lump sum payment?

      The lump sum is generally paid out one month after the first diagnosis. This amount can be used for any purpose by the insured.

    4. What types of critical illness are covered under this plan?

      The types of diseases covered depend on the provider. In general, policy documents will outline a list of 10 or 20 specific illnesses that are covered under this plan. Also, the claim amount in most cases can only be used once.

    5. Can this policy be proposed to family members?

      Direct relations such as parents, children, spouse, and siblings can be covered under critical illness plans depending on the policy terms offered by the insurance provider.

    Advantages of Critical Illness Riders:

    Critical illness health insurance policies are your best bet against life-threatening diseases or ailments. With the extensive cover provided under this plan, even treatments lasting for months can be potentially compensated in full if the sum assured is sufficient. Key advantages are:

    • Tax benefits under Section 80(D) of the Income Tax Act.
    • Lumpsum amount to be paid at the end of waiting period, which may be used any way the insured wants to.
    • Easy documentation for making claims.
    • Wide range of options for sum assured, premium, and policy tenure.
    • Additional riders can be bought as per company policy.
    • Hassle-free claim settlements once all documents are received by the insurer.
    • Pre-hospitalization expenses covered up to 30 days before getting admitted in a hospitalization.

    Who should buy this plan?

    Indian citizens above 18 years of age and less than 65 years can avail critical insurance health policies. Applicants more than 45 years may have to go through pre-policy medical checkup. As a rule, plans under the health insurance segment should be bought when you are young and healthy, as this directly affects the premium asked by the insurer.

    Family members can also be covered under a single plan as per policy documents. If more than one person is covered under a single critical illness policy, each member stands to receive cover once during the policy tenure.

    Exclusions under Critical Illness Plans:

    Critical insurance policies come with certain exclusions such as:

    • No coverage for 60 days (30 in some cases) after the policy is purchased. However, policy renewals are exempt from this exclusion.
    • Pre-existing diseases as specified by the insurer.
    • Overseas treatments (depending on the provider).
    • Treatments such as dental treatment, birth control, sex change, hernia, cataract, gastric etc. are exempted from coverage.

    An example:

    Let’s say you bought a critical illness policy with cover of Rs.5 lakhs for you and your spouse. Assuming you suffer from any of the specified illnesses and are hospitalized for a period of 30 days, the expense may be Rs.3 lakhs in all. So, once your treatment is over, you can apply for reimbursement for the said amount 30 days after discharge from hospital.

    Now, the remaining Rs.2 Lakhs cannot be used by you again in most cases. The remaining amount will, therefore, be kept aside only for treatment pertaining to your spouse’s critical illness expenses.

    You may also be interested about:

    Health Insurance Plans for Individuals
    Family Floater Health Insurance Policies
    Health Insurance Plans for Senior Citizens
    Group/Employer Health Insurance
    Cashless Health Insurance Policies

    News About Critical Illness Insurance

    • Women still need to get critical illness cover in insurance

      PNB MetLife which had no concrete online presence until now forayed into the online market recently with the launch of the already existing MetLife Major Illness Premium Back Cover (MMIPBC). This plan which covers 35 critical illness for a period of 10 years was launched online to increase online channel sales. The main target here is the digital platform driven urban crowd. PNB MetLife believes that online channel is cost effective and allows the customer to research and purchase the product from the comforts of their homes. The Chief Executive of PNB MetLife stated in an interview that there are plans of launching a complete portfolio of other online insurance terms too.

      13 March 2016

    • PNB MetLife forays into Online Market with MetLife Major Illness Premium Back Cover

      PNB MetLife which had no concrete online presence until now forayed into the online market recently with the launch of the already existing MetLife Major Illness Premium Back Cover (MMIPBC). This plan which covers 35 critical illness for a period of 10 years was launched online to increase online channel sales. The main target here is the digital platform driven urban crowd. PNB MetLife believes that online channel is cost effective and allows the customer to research and purchase the product from the comforts of their homes. The Chief Executive of PNB MetLife stated in an interview that there are plans of launching a complete portfolio of other online insurance terms too.

      13 May 2015

    GST rate of 18% applicable for all financial services effective July 1, 2017.

    Disclaimer: Premiums may vary depending upon factors like age, location and prevailing taxes/GST.

    Critical Illness Insurance Reviews

  • Page 1 of 50 1 2 3 4 5
    • HDFC Ergo Health Insurance
      "Good Service so far"
      0.5 3.0/5 "Satisfactory"
      I've a health insurance policy from the HDFC Ergo. I pay a premium of 3000 Per year, This policy is only for me. No claim experience so far. I never faced any issues with their services. I'll have to wait and see how they respond to my claim requests in future.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 23, 2018
    • Bajaj Allianz Health Insurance
      "BEST"
      0.5 4.0/5 "Great!"
      I have been using since 2 years. The premium is i do through the cheque. Premium is normal when compared to the others. There is a free medical checkup in my policy but i have not used it. I had a no claim experience so far. Diastase coverage is there.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 23, 2018
    • Religare Health Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a health insurance policy from the Religare Insurance company. I am paying a premium of 9000 per year. I do not have any claim experience with this policy. Overall it has been a smooth experience with the policy so far. I'll have to wait and see how they respond to my request in future.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 22, 2018
    • HDFC Ergo Health Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've been using the Health insurance policy from the HDFC Ergo for a while. I am paying premium of 490 per month for myself. I do not have any claim experience so far. The service is good. I'll have to wait and see how they respond to my claim requests in future.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 22, 2018
    • Star Health Health Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a health insurance policy with the Star Health Insurance Company. It offer health insurance benefits for the Whole full family, I am paying premium of 6000 per year and do not have any claim experience. The service is good. They have partnered with many hospitals in my area . Based on the features it has been a god experience with them.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 21, 2018
    • Royal Sundaram Health Insurance
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I've a health insurance policy with the Royal Sundaram. I am paying the premium for myself . I pay a premium of 2500 per years. I do not have any claim experience with the policy and th premium amount gets auto debited from my account.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 21, 2018
    • Reliance General Health Insurance
      "Hopeless Service"
      0.5 0.5/5 "Unacceptable"
      They are a joke to the insurance sector. They will never give you any claim and even if you write to them, they will never bother to reply. I took a policy medical from Reliance and trust me during the time of claim they did not pass it when we inquired they did not reply. Thief company
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 21, 2018
    • Star Health Health Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a health insurance policy with the Star Health. I have claimed this policy for 2 lacs. The whole claim process was easy, after discharge. The service was very good. I am really happy about the service of Star Health and it is a recommendable health insurance policy to have.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 20, 2018
    • ICICI Lombard Health Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've a health insurance policy with the ICICI Lombard . I pay a premium of 5500 per year for this policy. I do not have any claim experience with the policy. They offers 5 lacs coverage for the entire family and the network list of hospitals are also pretty solid with their services.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 20, 2018
    • Cigna TTK Health Insurance
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I've a health insurance provided by the Employer from the Cigna TTK . I do not have any claim experience , Company is paying the premium. It offers an annually coverage of 2 lacs for me and 1 lac for my wife and 50000 for my children. So far it has been a smooth experience and I'll have to wait and see how they respond to my claim in future.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 20, 2018
    • HDFC Ergo Health Insurance
      "Good policy to use"
      0.5 5.0/5 "Blown Away!"
      Got the health insurance policy from the HDFC ERGO around a year ago. The customer support service and the response is good with the HDFC ergo . This policy covers only one member in my family. I have the medical coverage up to Rs,3,00,000 and I am satisfied having the health insurance policy.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 20, 2018
    • Star Health Health Insurance
      "Excellent"
      0.5 4.0/5 "Great!"
      I am having the health insurance policy with the Star health insurance company. Customer service is good one and their response too. Coverage value is fine one too with the Star health insurance company. I have not faced any such claims with them till now.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 20, 2018
    • Max Bupa Health Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my health insured with MAX BUPA from last 3 years and it is one of the good policy. It is a family coverage where spouse and children are covered. I pay a premium of Rs 18000 for this health insurance. My claim experience was good and they covered 70% of the billed amount.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 19, 2018
    • Religare Health Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I was using health insurance policy with Religare from last 2 years, i am happy with the coverage value of this insurance policy. I am satisfied with the claim experience and it was a cashless treatment. I have a coverage value of Rs 3 lakhs for this insurance policy.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Jun 19, 2018
    • ICICI Lombard Health Insurance
      "Good Policy"
      0.5 5.0/5 "Blown Away!"
      I took health insurance from Icici health insurance . I have choose this insurance mainly because of convincing premium with too many benefits . This policy covers Cashless hospitalization. Pre diseases coverage . Overall am satisfied with customer care and service. Am getting income tax benefits
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 19, 2018
    • New India Health Insurance
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      New India Assurance was the first health insurance provider with the Employer provided health insurance, They've partnered with the many hospitals in Pan India and also offered protection for the entire family. They were also offering cashless treatment facilities. Overall it has been a smooth experience.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 18, 2018
    • SBI General Health Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a health insurance with SBI general insurance from last 2 years, i am happy with the coverage value of this insurance policy. I have not claimed anything so far from this insurance company. I pay a premium of Rs 50 per month for this insurance policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 18, 2018
    • Star Health Health Insurance
      "Good to have insurance policy"
      0.5 3.0/5 "Satisfactory"
      Idon't have any experience of claim hence i never get a chance to call their customer care. They used to call me for renewing the policy. I can claim about 3.5 lakhs per annum. If i use 10% or not claim the policy, they wont give additional benefits for the next year. Their is a insured amount by 10%. My premium amount will be same but the claim amount they will increase by 10% next year. Cashless treatment is available in this policy
      Was this review helpful? 0
      , noida
      Reviewed on Jun 18, 2018
    • National Insurance Health Insurance
      "Very late back policy"
      0.5 3.0/5 "Satisfactory"
      My company people have taken health insurance policy to the employees. Once i have claimed the policy for my mother. The service is not good as per experience. They have a separate hospital list, in that they have mentioned cashless facility is available but when i went for those hospital, they said their is no cashless facility for this insurance. They will not response from the National Health insurance. The number will keep on ringing. After that my company asked me to send the bill. But i never done to this company. The claim is very low which is less than 20000.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 18, 2018
    • Religare Health Insurance
      "BEST"
      0.5 4.0/5 "Great!"
      From past 7months i am using this health insurance. Documents i have done through the on line. The coverage is for 10k. Per annual i pay of rupees 7-8k. Disease coverage is there. Free medical checkup once in a year is also available in my insurance.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 17, 2018
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