Is Critical illness medical insurance essential or just a reproduction of existing medical insurance policies- An analysis |
Posted: July 6, 2016 |
The critical illness health insurance policies provided by health Insurance Companies like HDFC ERGO, Max Bupa, Bharti AXA etc. are major insurance troupers providing some of the best critical illness health insurance plans in India. Not very old but critical illness health insurance policies became active in India later in 20th century where initially it was considered as one of the duplicate medical insurance scheme introduced by health insurance companies. But, when you compare health insurance deeply the critical illnessesare something very different from normal mediclaim or medical insurance policy. Expert says that there are situations in life considered to be scarier than death that are critical medical conditions. These critical mishappenings of life are cover in critical illness health insurance policies or we can say that these mishappenings are only covered in such health insurance plans. Hence, the critical illness medical insurance are not a reproduce of general health insurance policies. Under critical illness health insurance plans you will get a lump-sum tax free compensation for your specific critical illnesses like heart attack, cancer, stroke, multiple sclerosis etc. as mentioned in their medical insurance policy details by health insurance companies. You can compare health insurance policies for your specific health status and get insured for your risk factors. For example- People having genetic history of cancer have 60% chance to develop cancer. Therefore, getting critical illness medical insurance plan for themselves will be a smart move. Another reason for considering critical illness medical insurance as an essential is the cost of critical illness treatments. The critical illness involves in these medical insurance are generally those illness whose medical treatment costs are very high. This makes it an essentiality with your regular health insurance policies. You can opt for a standalone critical illness medical insurance or can purchase it as a critical illness rider added to your parental health insurance plans. Critical illness health insurance plans are specifically beneficial for people having severe medical history, lifelong critical health conditions, risk to genetic diseases and people having less medical savings. You can modify critical illness health insurance policies for individual or family cover as per your requirements. But, these health insurance policies have only one-time payment options. However, when you Compare Health Insurance to critical medical insurance you can get your policy renewed after one payment. The Inclusions If you want best health insurance in India for your critical illness than deeply compare health insurance companies policies to study the inclusions
Comparison chart
Note* These parameters can vary in policies provided by different health insurance companies in India.
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