Critical Illness Insurance
What is Critical Illness Health Insurance?
Several diseases, such as cancer, heart ailments, stroke, kidney failure, etc., are life-threatening and require advanced medical care. The treatment is generally expensive and long-term in nature. Critical illness insurance covers these diseases and offers financial protection to policyholders to help them access the best healthcare facilities on time.
Importance of Critical Illness Insurance Coverage
Stress, sedentary lifestyle, and poor food habits have resulted in a massive surge in critical illnesses across the world. Their treatment is expensive and out of bounds for many people.
Critical illness insurance enables you to access many advanced healthcare services and treatments that are not available in regular health insurance plans.
The policy pays for the patient’s living expenses during the course of treatment and recovery to compensate for the loss of income due to illness.
Critical illness insurance covers the transportation expenses of critically ill patients who cannot move without external support.
Any additional expense required to move patients to a special place for recovery & rehabilitation is also covered under critical illness insurance.
Benefits of Critical Illness Insurance
The policy covers around 36 diseases that are serious, life-threatening, and require long-term care.
Policyholders get a lump sum payment immediately after the disease is diagnosed. The money can be used for any of their requirements without restrictions.
The fixed payout is guaranteed and does not require hospitalization or medical bills to make an insurance claim.
Apart from medical treatment, the insurance proceeds can substitute for the loss of income and pay for the family’s living expenses when the primary breadwinner is unable to work.
A critical illness policy may offer enhanced protection to policyholders by way of accidental death benefits.
Things to keep in Mind while Buying Insurance for Critical Illness
Scope of Coverage
Examine the policy’s inclusions and exclusions to check whether they meet your specific requirements
Waiting Period
Most diseases are associated with a health insurance waiting period in the policy. So, the insurance coverage starts only after a certain period of time. Please check this duration before purchasing the policy.
Age
As the health insurance premium rises along with age, it is advisable to buy a critical illness plan when you are young.
Renewability
Some policies offer life-long renewability, but others may provide coverage only up to a certain age of the policyholder. Please check the maximum age up to which the policy offers protection.
Things to Compare With Various Insurance Plans for Critical Illness
Clearly understand the purpose of a critical illness insurance policy. Know how it differs from regular health insurance and why you may need either or both of these policies.
Check the features, benefits, inclusions, exclusions, and pricing of different plans online and shortlist the best among them for further due diligence.
It is important to choose the right sum assured based on your budget and health situation. A standalone policy for critical illness insurance offers higher coverage but charges higher premiums. You can also opt for a critical illness rider along with your basic health insurance plan.
What is Covered Under Critical illness Health insurance?
Critical health insurance policies typically cover these 36 major diseases:
- Major types of cancer
- Heart attack (with specified severity)
- Stroke
- Coronary artery bypass surgery
- Kidney failure
- Aplastic Anemia
- Major organ/bone marrow transplantation
- Multiple Sclerosis
- Muscular Dystrophy
- Surgery to Aorta
- Alzheimer’s Disease
- Parkinson’s Disease
- Motor Neuron Disease
- Terminal Illness
- Progressive Scleroderma
- Fulminant Hepatitis
- Apallic Syndrome
- Systemic Lupus Erythematosus with Lupus Nephritis
- End-stage lung disease
- End-stage liver failure
- Coma
- Deafness
- Heart valve surgery
- Loss of speech
- Major burns
- Primary Pulmonary Hypertension
- HIV due to blood transfusion and occupationally acquired HIV
- Benign Brain Tumor
- Viral Encephalitis
- Bacterial Meningitis
- Angioplasty and other invasive treatments for coronary artery
- Blindness
- Major Head Trauma
- Paralysis
- Loss of independent existence
- Poliomyelitis
What is not covered in Critical illness Health insurance?
The general exclusions of critical illness coverage are listed below:
- Congenital health disorders (disease or abnormalities present from birth)
- Any disease diagnosed during the policy’s waiting period
- Diseases associated with smoking, alcohol, and drug consumption
- Non-essential medical services such as cosmetic surgery, infertility treatments, hormone replacement therapy, etc.
- Dental care & treatments
- Health conditions related to pregnancy
Eligibility Criteria for Critical Illness Health Insurance Plans
Individuals who are eligible to purchase regular health insurance are also eligible for critical illness insurance. This typically includes people in the age group of 18-59 years.
Age and pre-existing health conditions also decide whether you are eligible to purchase this plan. The insurance providers have separate packages for different age groups.
Certain insurance companies may have additional rules, terms, and conditions applicable to their plans. It is recommended to check the policy document for details.
How to Buy a Critical Illness Insurance Plan?
Step 1
Visit the official website of Prominent Insurance Brokers. Enter your details in the Health insurance form.
Step 2
Once you provide all the required details in this form, click on the ‘Submit’ button.
Step 3
One of our executives will soon get in touch with you. You will be guided by our team to buy one of the best critical health insurance plans in the UAE. You can make the payment online.
You can also click on the WhatsApp icon on this page and chat with our team members. You will be guided step-by-step to buy the policy online.
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Frequently Asked Questions on Critical Illness Insurance
Is there a separate plan to cover the major critical illnesses?
You can either purchase a standalone critical illness insurance policy or a critical illness rider along with your regular health insurance.
How is critical illness insurance different from a normal health insurance plan?
A critical illness policy provides coverage for many diseases that are not covered under normal health insurance. Further, it offers a lump sum payout directly to policyholders. A regular health insurance plan just covers the hospitalization and related expenses.
Is hospitalization mandatory to file a claim under critical illness insurance?
No. Critical illness insurance offers a fixed amount immediately after the disease is diagnosed. This money can be used for any purpose, including medical expenses. It can also substitute for the possible loss of income if the person is unable to work.
How many times can I make a claim under critical illness insurance?
A critical health insurance plan will make a lump sum payout if the disease or injury is covered under the list of inclusions. The payout is made only once, and the policy ends subsequently.
Am I eligible for critical illness insurance if I have pre-existing medical conditions?
Insurance companies typically do not provide coverage for pre-existing diseases under critical illness insurance. However, some companies may offer coverage for the same after specifying a waiting period based on the type of disease. This can vary from one insurer to another.
Disclaimer: The health insurance plan may have limitations, exclusions, and other terms and conditions that may affect coverage. It is important to carefully review the policy wording before making any decision.