Understanding Critical Illness Insurance

Critical illness insurance is designed to provide financial protection in the event that you are diagnosed with a life-threatening condition. This type of insurance offers coverage for a wide range of serious illnesses, helping you focus on recovery without worrying about the financial strain. The policy pays a lump sum amount to help with medical bills, treatment costs, and other associated expenses. Coverage typically includes illnesses such as cancer, heart attack, stroke, organ failure, and kidney disease. With critical illness insurance, you can safeguard your health and financial stability during some of life’s most challenging times.

What is Critical Illness Health Insurance?

Critical illness is referred to as dread disease which falls under the predetermined list as a part of an insurance policy. A critical illness policy is contracted to the policyholder and is made a lump sum cash payment when the policyholder is diagnosed with one of the specific illnesses. It is also known as critical illness cover. Critical illness insurance cover offers financial security against various life-threatening diseases. The list of critical illnesses covered is given by the company where it ensures the coverage of all the expenses which are incurred if a person is suffering from severe health conditions. This cover has been designed especially to give protection against several life-threatening diseases or sicknesses. These types of health insurance covers ensure that the diseases do not burn a hole in our pocket. Therefore, it would be a smart move to add a critical illness cover or insurance to your health insurance policy. Some of the major examples of critical illness are kidney failure, heart attack, paralysis, cancer, and many more. Below is the list of critical illnesses for which the company significantly offers to pay the expenses of the patient with serious health problems.

What Does Critical Illness Insurance Cover?

The 36 critical illnesses are as follows.

1. Heart attack
2. Heart valve replacement because of abnormalities or defects in the body.
3. Aorta surgery with the help of laparotomy or thoracotomy.
4. Kidney failure
5. Stroke
6. Cancer
7. Major transplantation of an organ such as heart, kidney, lungs, liver, or bone marrow
8. Fulminant viral hepatitis which is massive necrosis of the liver caused by a virus that may lead to a liver failure
9. Multiple sclerosis
10. Primary pulmonary Arterial Hypertension
11. Paralysis with the complete and permanent loss of one or all the limbs or is also known as paraplegia
12. Permanent or total deafness
13. Permanent or total blindness
14. The permanent loss of speech
15. Parkinson’s diseases
16. Coma
17. Degenerative brain disorder or Alzheimer’s disease
18. Third-degree burns or major burns on the body covering at least 20% surface of the body
19. Terminal illness
20. Motor neuron disease
21. Chronic lung disease
22. Chronic liver disease
23. A major head trauma
24. Muscle dystrophy
25. Chronic persistent bone marrow failure which leads to anemia
26. Benign brain tumor
27. Encephalitis
28. Poliomyelitis
29. Bacterial meningitis due to an inflammation of brain membranes or the spinal cord
30. Craniotomy or brain surgery
31. Full-blown AIDS
32. AIDS contracted by medical staff, where it is caused due to an injury or an exposure to the contaminated blood
33. If the victim has contracted AIDS due to the blood transfusion when receiving infective blood
34. The universal necrosis of the brain cortex or Apallic syndrome
35. Various other serious coronary heart diseases are caused due to the narrowing of the lumen of the three major arteries- the Circumflex, RCA (right coronary artery), LAD (Left Anterior Descending artery.

The above-mentioned diseases fall under the category of critical illness insurance. If the person wants to claim this insurance, they should have their diseases verified with blood tests, MRI, or a CT scan as per the requirement. It must be done under the supervision of a certified medical professional. With all these procedures, the factor of transparency is a must. Wherein, it is essential to disclose any existing illness, deficiency, or disorder that the person might be suffering from during that time period. It also provides financial safety against all the rising medical costs. The profitable deals and the more benefits which are given to the young buyer are a bonus of this health cover. The insurance cover is also responsible for covering additional protection over and above the employer cover.

FAQs

What are the benefits of health insurance plans?

To invest in a health insurance plan is a wise choice indeed. The many benefits of the health insurance plans are: it proves to be an optimum cover for health-related issues where all the expenses are covered by the company in the form of cashless treatment or the pre-and post-hospitalization of the patient. *Standard T&C apply Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.