With an increasing rate of lifestyle diseases, we tend to bend, unknowingly, to some life-risk health problems. Maintaining a healthy diet protects you from those fatal diseases to some extent, but taking precaution is always a necessary factor that ensures a tension free future.
What is a Critical Illness Plan?
Unlike mediclaim, CI is such a health insurance where you can get a lump-sum amount on the causing of serious health issues like cancer and strokes.
This health insurance takes care of you and your economic pressure very well when you are in indeed need for money for curing such complex ailments. Under this plan, you can get to the highest limit of the sum insured to the cost of the treatment and recovery expenses. It extends to the payment of debt, if any.
In a cleared term, CI plan is relied on pre-defined illness and offers a fixed amount on the occurrence of the severe health complication. CI health insurance plan generally works as an additional policy with your existing one.
The coverage of Critical Illness plan
The numbers of diseases covered by such health insurance plan depend completely on companies’ terms and conditions. Basically, 8 to 20 critical diseases come under the benefits of this health insurance. But as the name says, it is only applicable to severe health problems and life-risk diseases such as cancer, kidney failure, strokes, heart valve replacement and so on.
The waiting period is an additional factor of critical illness health plan, which does not exist in other general health policies. The term of such CI insurance is that the insured person must survive 30 days after the diagnosis to claim the amount. Though, companies would not give critical illness health benefits plan within the 90 days after the start of the policy.
Exclusions in CI plan
It is always mandatory to check exclusions of plans to get a comprehensive detail about the policy. CI plan does not include fields like:
Critical illness due to smoking, alcohol and drug intake.
Health complication due to internal and external congenital disorders.
Illness due to war, terrorism, navy or military operation
Critical condition during childbirth and pregnancy
Dental care or cosmetic surgery
Hormone replacement treatment
Reproduction aid treatment
Inclusions in CI plans:
Cancer of Specified Severity
First heart attack of specified severity
Open chest CABG
Open heart replacement
Kidney failure needing regular dialysis
Major organ/bone marrow transplant
Permanent paralysis of limbs
Loss of speech
End stage liver disease
End-stage lung disease
Fulminant viral hepatitis
Besides the above-mentioned list, there are many diseases that are included in the coverage of CI plan.
Places to buy Health Insurance Plan
Terms and conditions differ according to the company. This is why choosing the right place is always an important factor. For life insurance companies, CI plan works as a separate insurance policy or a rider to the base plain. The two major circumstances associated with the policies are – your base plan ends when the rider is used, and the base plan continues after the use of the rider. If a company provides separate CI plan, then it requires you to undergo a detailed study about the plan and its terms and conditions. Separate plans are more complex in rules and have an array of terms attached with them.