Should I buy a stand-alone critical illness plan when I already have Rs 10 lakh as a family floater policy?
Amit Bapna, Mangalore
The health cover that you take should consider your current health condition and the quantum of cover that you already have. Moreover, standard family health plans pay out-of-pocket expenses for hospitalisation. At the same time, several expenses are not covered, including non-medical expenses, loss of income due to inability to attend work, outpatient treatment and diagnostic expenses, and increased living expenses due to the illness. These can be substantial, particularly for critical illness. The critical illness plan covers such expenses. It pays the sum assured as a one-time payment, as soon as the specified illness is diagnosed. This policy works in parallel with the family health insurance plan. You can continue to claim your hospitalisation expenses from the mediclaim plan even if your critical illness plan is triggered.
