Critical Illness Insurance: The Complete Guide

Critical illness, the term itself is daunting. But the sad reality of today's world is that more and more people are getting diagnosed with life-threatening diseases and are prey to critical illnesses. A critical illness policy is a beneficial policy in such grave times. Cancer, Coronary Artery Bypass Surgery, First Heart Attack (Myocardial Infarction), Kidney Failure, Major Organ Transplant, Stroke, Aorta Graft Surgery, Primary Pulmonary Arterial Hypertension, Multiple Sclerosis with Persisting Symptoms and Permanent Paralysis of Limbs are few of the critical illnesses. It is well known that the pre and post hospitalization expenses, as well as the treatment cost of these critical illnesses, are very high. The financial burden is too much and a proper critical illness insurance policy can ease out this burden. This means that on the diagnosis of any of above-mentioned diseases (as per your policy document), the policyholder receives a lump sum of the sum insured. This can be used for medical care and any lifestyle changes. Key Features of Critical Illness Policy: Bajaj Allianz Critical Illness Insurance Policy has the following features:

• 10 major critical illnesses covered
• Policy renewal valid for lifetime
• Provides benefit under section 80D for income tax payment
• Comparatively low premium cost
• Speedy resolution of claims

Benefits of Critical Illness Policy: Apart from the above-mentioned features, there are many benefits to purchasing a Critical Illness Policy.

• The policy holder is provided the claim amount in lump sum, so that there are no financial troubles during the treatment.
• The expenses incurred both in India and abroad are covered.
• Many insurance companies like ours provide a grace period during policy renewal.
• The sum insured can be upgraded during the renewal of critical illness policy.
• Financial aid is provided, thus helping the policy holders and their families in difficult times.

Critical Illness Policy Inclusions: Every health insurance company has its set of diseases that they cover under the critical illness insurance policy. Make sure to read the policy document carefully and talk to the authorized executive before going ahead with the investment. Nowadays, many insurance companies include free health checkups when you purchase critical illness cover as well. Critical Illness Policy Exclusions:

1. After purchasing the critical illness cover, if you are diagnosed with any of the critical illnesses covered in your policy plan, the insurance company might not cover you for a period of time, say around a couple of months.
2. People infected with HIV/Aids virus are not covered.
3. Claims for any cosmetic and dental surgery are not covered.
4. Death within 1 month of purchasing the policy is not reimbursed.
5. Casualties and illnesses caused due to terrorist attacks and wars are excluded from this policy.
6. Any critical health-related issues during pregnancy and childbirth are not covered.
7. Occupational diseases are also excluded.

Claim Process: Critical illness insurance is certainly a unique and beneficial policy out of the various types of health insurance available in the market. It is always better to be safe than to regret later. Get in touch with our executives and safeguard yourself and your family against critical illnesses.