Critical Illness Insurance is devised to offer coverage against life-threatening health conditions such as cancer, heart attack, kidney failure, and so forth. It gives you peace of mind that you don’t need to spend your savings during the time of a medical emergency. Such diseases generally affect major parts of your body and generally mandate constant treatment, which can put ample financial strain on the family. Therefore, it is more important than ever to get these critical illnesses covered under a health insurance plan, which will prevent you from draining all your savings and assist you to focus on your health. It provides a lump sum coverage amount that can cover exorbitant medical expenses for critical illnesses stated in the policy. It helps you get quality treatment without affecting your financial independence. Additionally, an insured person is also entitled to get tax benefits.
Critical Illness Insurance Plan covers life-threatening diseases such as tumors, permanent paralysis, etc. Contrary to this, health insurance plan provides comprehensive health insurance coverage along with hospitalization expenses.
In the Critical Illness Insurance Plan, hospitalization is not mandated to relish policy benefits. Diagnosis is enough to get a lump-sum payment. Contrary to this, health insurance permits the insured to get the reimbursement of hospitalization expenses by submitting bills.
Critical Illness Insurance Plan strives to proffer coverage for up to 36 critical illnesses. While health insurance provides extensive coverage, including pre-hospitalization expenses and post-hospitalization expenses.
An insured person enjoys a high life cover at affordable rates. It allows policyholders to secure their loved ones financially. This will ultimately give you the peace of mind that is requisite in today’s time.
Critical illness policies usually come with a guaranteed benefit payout to the policyholder when he/she is diagnosed with an illness. This benefit is featured to help an insured person to manage an array of treatment charges.
Under section 80D of the Income Tax Act, a policyholder can claim tax deductions on premium payments, and, senior citizens can claim up to Rs. 50,000 under this section. This amount may vary as per existing tax rules.
If the reason for the policyholder’s death is an accident, the nominee will be entitled to get the accidental death benefit Sum Assured. This amount will help the policyholder’s family to manage their expenses.
If an insured individual suffers from permanent disability due to an accident, his/her policy continues and the policyholder doesn’t have to make any premium payments. It is one of the remarkable benefits of critical illness insurance.
A critical illness insurance policy is designed to offer coverage up to Rs. 50 lakh so that a policyholder can get the necessary medical treatment during the hour of need. It will free you from constant apprehension.
Before buying any insurance policy, a seeker must review all of its inclusions and exclusions. You might find stumble upon some critical health condition that your policy doesn’t cover.
While scrutinizing different policy options, one must consider the sum insured. The cost of treatment differs for the treatment of critical health conditions which makes checking the coverage amount necessary.
The waiting period stands for the stipulated time after which a policyholder can acquire the policy’s benefits. Ensure to check all the waiting periods to understand when you are permitted to file a claim.
Our online platform enables you to make a well-versed insurance decision. Here, you can compare the cost and features of the various insurance policies with a click. Our platform assists you to discover and grasp each product’s facets so that you can easily filter out the plan.
As compared to the offline mode of buying insurance, we help you get high insurance coverage at an affordable insurance premium. Since our platform doesn’t involve any agent so no commission is paid to the insurance agent. It means you can buy the best insurance policy online at the best price.
One of the obstacles that keep preventing people from buying an ideal insurance policy is paperwork. At Policychayan, you don’t have to deal with tedious paperwork that makes buying the policy easier and quicker. From here, you can buy the desired insurance plan within a matter of a few minutes.