Critical Illness Insurance: A Health Insurance Policy
Critical Illness Insurance: A Health Insurance Policy:
Critical Illness insurance is a health insurance policy in which you can insure yourself against any serious illness or disease. This insurance policy helps with a lump sum amount to protect the policyholder in case of serious illness. This insurance policy was founded by Dr Marius Barnard under the name of dread disease insurance on 6th October 1983 in South Africa. This policy will help you with a lump sum amount if you are affected with a disease that is listed in the policy. The policyholder may require to survive with a minimum number of days after the disease is diagnosed. The most common survival periods are 28-30 days, but it varies from company to company.
There are number of diseases covered under Critical Illness policy. In 1983 when this policy was first introduced, it covered Heart Attack, Cancer, Stroke and Coronary Artery by-pass surgery. Today number of other diseases have been added to this list and covered by many insurance companies. The lump sum amount provided by the insurance company may be used to pay for the costs of care and treatment, to pay debts if any and so on. This policy may also be purchased in addition with a Life Insurance or Term Insurance policy. Some insurers also provide Children Education bonus of Rs 25000 for future education on the diagnosis of disease. This policy can be purchased by anybody from 6 to 59 years. This policy offers very less premium rates and you can choose for Sum Assured from Rs 100000 to Rs 5000000.
Insurance Providers for Critical Illness Plans:
ICICI Lombard
Apollo DKV
National Insurance
Reliance Health Insurance
Tata Aig Health Insurance
Star Health Insurance
Oriental Health Insurance
New India Assurance
Bajaj Allianz Health Insurance
Critical Illness Insurance: A Health Insurance Policy