Outlook Money
Unlike a comprehensive health insurance policy that covers all hospitalisation costs, it provides a lump sum amount to the insured.
It provides senior citizens with a lump sum amount for severe illnesses to enable them to cover their medical expenses.
A critical illness insurance policy is crucial for everyone, especially seniors who are more susceptible to diseases due to old age.
Critical illness policy premiums can vary based on the age, sum insured, diseases covered, waiting and the survival period.
It also covers costs for cancer reconstructive surgery, cardiac nursing, physiotherapy, health check-ups, pre and post-hospitalisation, etc.
The policy can be renewed for a lifetime, meaning there is no exit age.
These plans may have exclusions, like self-inflicted injuries, substance abuse, HIV infection, cosmetic treatments, and congenital ailments.
Subscribers must check policy details on covered diseases, survival, medical history, and other terms and conditions.
Compiled By Himani Verma