• 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
    • National Insurance Health Insurance
      "Its good health coverage policy"
      0.5 5.0/5 "Blown Away!"
      National has good hospital facility, they are recommending high profile hospitals with cash less treatment. I make premium around Rs. 4500 per year. Its covers only for me. Medical sum assured Rs. 1.5 lakh, I hope they are providing pre existing disease as well.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 20, 2018
    • HDFC Ergo Health Insurance
      "Good insurance"
      0.5 5.0/5 "Blown Away!"
      My health insurance was offered by the company from HDFC Ergo. The policy coverage was around 3L for annually. They have a good networks of hospitalizations. The customer service was good. I got the insurance papers on time. It is a free policy.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 20, 2018
    • United India Health Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I got the UNITED INDIA INSURANCE health insurance policy around 4 months ago. This policy covers 2 members in my family. I have got the medical coverage up to Rs,3,00,000 from this UNITED INDIA INSURANCE health insurance policy. I never got any claim experience with this policy .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 20, 2018
    • Max Bupa Health Insurance
      "Good Protection for Health"
      0.5 4.0/5 "Great!"
      Max Bupa gives the medical cover around Rs. 2 lakhs its covers only for me. I paid around Rs. 2500 as premium amount for one year. They do have tie up with good hospital. I hope Max Bupa is providing tax benefits and no claim bonus on the health policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 20, 2018
    • Religare Health Insurance
      "Its Good"
      0.5 4.0/5 "Great!"
      RBL gave me the Health insurance from Religare , without my knowledge they have charged me Rs. 3000 of premium, for the tenure of one year. Religare premium was converted into EMI. Religare gave me the medical cover around Rs. 1.5 lakh with cash less treatment facility and they got tie up around 1000 hospital in India.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 20, 2018
    • Star Health Health Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I have paid Rs,8000 to get the health insurance policy from the STAR HEALTH & ALLIED INSURANCE company. This policy covers 3 members in my family and it gives the medical coverage of Rs,3,00,000 and I never had any claim experience so far and I have got this policy around 5 months ago.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 20, 2018
    • Royal Sundaram Health Insurance
      "Best insurance policy"
      0.5 5.0/5 "Blown Away!"
      I have taken Health Insurance with Royal sundaram.The premium amount is is 2500,the policy coverage is five lakhs,24 hours hospitalization. for any kind of claims.The payments is done online.I have no claim experience and cashless treatment is covered 95%.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 20, 2018
    • Bajaj Allianz Health Insurance
      "Best insurance policy"
      0.5 5.0/5 "Blown Away!"
      I have taken Health insurance with Bajaj allianz,the premium amount is not paid my me as its offered by the company.The policy coverage is six lakhs including the family members.This is covered mediclaim as well as health insurance.The policy was taken two years back and no claim experience.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 20, 2018
    • United India Health Insurance
      "Good policy"
      0.5 3.0/5 "Satisfactory"
      I have taken a health insurance from UNITED INDIA INSURANCE. They provide cashless facility. And i dont have any previous claim experience. Yearly i have to renew the policy. This policy cover my family and myself. They provide cashless facility.
      Was this review helpful? 0
      , secunderabad
      Reviewed on Feb 19, 2018
    • Star Health Health Insurance
      "Better"
      0.5 1.0/5 "Really Bad"
      I am having the health insurance policy with the Star health insurance company. Coverage value is around 3 lakh Rupees. I would like to say that the response is fine one for me with them and the customer service is good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 17, 2018
    • National Insurance Health Insurance
      "Good"
      0.5 3.0/5 "Satisfactory"
      I am having the health insurance policy with the National Insurance company. I used to talk with them very often and the claim went in easy manner. Everything went in the good aspects with them till now.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 17, 2018
    • Religare Health Insurance
      "Its Best"
      0.5 5.0/5 "Blown Away!"
      I have corporate insurance from Religare Health, I didn't check the benefits, I believe I got medical cover upto Rs. 3 lakhs for my entire family. I got Religare e card. If in case of any emergency if I admit more than 24 hours I can get the reimbursement. I would suggest to enable daily check on insurance.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 16, 2018
    • Bajaj Allianz Health Insurance
      "Good Insurance"
      0.5 5.0/5 "Blown Away!"
      I have taken a Mediclaim plan with Bajaj. I have had a good claim experience with them. They gave the amount pretty easily. Even in case of my relatives experience Baja readily payed about Rs.75000 for the treatment. The number of network hospital in it are pretty good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 16, 2018
    • Religare Health Insurance
      "Bad Experience"
      0.5 1.0/5 "Really Bad"
      This is my first term with Religare Mediclaim plan. 7 months down my Insurance my Brother had an accident, and consequently they didn't cover me up during this time. I had to pay more than Rs.1 Lakhs for the treatment. I applied for it thrice and all the three times it got rejected, they said accidents aren't covered in this Insurance.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 16, 2018
    • Royal Sundaram Health Insurance
      "Average service"
      0.5 1.0/5 "Really Bad"
      I have taken Royal Sundaram Health Insurance policy,i purchased two months ago,the premium amount is is 6000 paid per annum,I dint receive the kit as yet.The policy coverage is three lakhs and they would cover 100% cashless treatment.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 16, 2018
    • HDFC Ergo Health Insurance
      "Need to improve"
      0.5 1.0/5 "Really Bad"
      I do have the health insurance policy with the HDFC ERGO general insurance company. I would like to say that the customer service could be get improved. I have felt that the response also could be get improved.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 16, 2018
    • United India Health Insurance
      "Very good policy "
      0.5 5.0/5 "Blown Away!"
      I have the corporate health insurance policy wit the UNITED INDIA INSURANCE company. I hold this policy for the past 8 years. This policy covers 4 members in my family. I have the medical coverage amount up to Rs,3,00,000. I would say the cashless treatment option is available with this policy.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 15, 2018
    • Bajaj Allianz Health Insurance
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken a Health Insurance with Bajaj Allianz ,the premium amount is 12,000, its a one time payment.They cover including the dependants the policy coverage amount is five lakhs ,they give 100% for cashless treatment.I pay my premium with my EMI card of bajaj allianz.
      Was this review helpful? 0
      , jaipur
      Reviewed on Feb 15, 2018
    • ICICI Lombard Health Insurance
      "Better service"
      0.5 4.0/5 "Great!"
      I have taken a Health Insurance with ICICI Lombard,the premium amount is 10800 its a one time payment.They cover including the dependants 40% and for the primary holder its 60%they give 100% for cashless treatment.I would say its the best for an individual take a policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 15, 2018
    • Religare Health Insurance
      "Good policy to use"
      0.5 4.0/5 "Great!"
      I hold a health insurance with Religare from last 2 years and it is a good insurance policy. This policy has to be renewed every year and i pay a premium of Rs 11000 for this insurance. I do not have claim experience and i have not taken any cashless treatment. I have a coverage of Rs 5 lakhs which is satisfactory.
      Was this review helpful? 0
      , faridabad
      Reviewed on Feb 14, 2018
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