A Critical Illness Cover is a type of health insurance that offers financial protection in case of serious health conditions or diseases. It generally provides a lump sum payment if you are diagnosed with a life-threatening illness such as cancer, heart attack or kidney failure. This amount can be used for treatment, recovery or even to cover everyday expenses during the period of illness. All major health insurance companies provide critical illness cover / plans. The premiums paid for critical illness policies qualify for tax deductions under Section 80D of the Income Tax Act.
Some of the Major Critical Illness Cover Plans Available in India
1. HDFC Ergo – HDFC ergo Critical Illness Policy help manage financial crisis in hard times. They provide up to 15 critical illnesses cover with their Health Insurance.
Website: www.hdfcergo.com/health-insurance/critical-illness-insurance
2. Max Life Insurance – Max Life Critical Illness Insurance Cover provides coverage for life threatening medical condition such as cancer Heart Attack kidney failure paralysis and more.
Website: www.maxlifeinsurance.com/term-insurance-plans/critical-illness
3. ICICI Prudential – ICICI Prudential Life Insurance’s Critical Illness Insurance Plan offers coverage for 34 specific life-threatening diseases, including cancer and heart attack.
www.iciciprulife.com/health-insurance/what-is-critical-illness-insurance.html
4. Care Health Insurance – Critical Insurance Policy offers coverage against medical expenses for treatment of 32 serious life-threatening diseases such a cancer, stroke and kidney failure.
Website: www.careinsurance.com/health-insurance/critical-illness-insurance
5. Manipal Cigna – Covers 30 or 15 critical illnesses as per plan. Also provide access to online Wellness Programs.
Website: https://www.manipalcigna.com/critical-illness-cover
Critical Illness Cover is important in India due to the high cost of medical treatment for serious conditions, especially as private healthcare facilities can be expensive. It helps ease the financial burden during tough times enabling patient to concentrate on their recovery. This insurance is crucial for those looking for financial protection in case of a serious illness, as the treatment for critical conditions can be expensive and long-lasting.
