Critical Illness Cover: 5 Essential Things You Need to Know


Irrespective of one’s financial condition, getting diagnosed with a critical illness can be a major life turner. A critical illness not only shatters your morale but can also wipe out your finances in a big way. Such a condition can have far-reaching consequences on both an individual and the people dependent on him.

Since medical expenses are skyrocketing, critical illness insurance has become a necessity in today’s times. It will not only help you fight against critical illnesses but will also protect your finances.

You must know that Niva Bupa provides everyone with a lump-sum amount on the diagnosis of a critical ailment such as cancer, heart attack, stroke, etc. Since there’re various insurance companies that are offeringcritical illness insurance coverage, you need to understand the features very carefully in order to choose the best health insurance company in India.

Things to Know Before Buying Critical Illness Insurance

●  Period of Survival

Most of the health insurance companies in India provide a survival period for critical illness policies. Niva Bupa health insurance company also provides a survival period of up to 30 days or less, depending on the condition. This means that you need to survive for the said period after the diagnosis of your ailment.

The period also differs from insurer to insurer and might extend up to 60 days.

●  Number of Critical Diseases Covered

Different insurance companies cover different critical diseases. While health conditions like stroke, cancer, and heart attack are mostly covered by all insurance companies but illnesses like deafness, Alzheimer’s are not covered by all insurers.

So before you head over to finalise your critical disease insurer, make sure they cover the diseases you are susceptible to. You must also remember that some companies make a single payout while some go for multiple payouts depending on the diagnosis of the critical illness and the stage and seriousness of the disease.

●  Check Whether it Covers Pre-Existing Diseases.

India’s best health insurance companyoffers you coverage for pre-existing diseases after a waiting period of three to four years. A few insurers don’t include and cover pre-existing diseases within their policy.

●  Learn About the Waiting Period

The waiting period to avail of critical illness coverage varies from company to company. It is basically the number of days or years you need to wait to avail the benefit of the critical illness policy. So make sure that you thoroughly check the waiting period that the insurer provides you with.

●  Critical Illness Insurance is Different From Health Insurance

The critical illness policy helps you and your family compensate on the diagnosis of a critical ailment. Unlike a health insurance plan, it covers all the costs of medical tests and hospitalisation.

Many insurers offer critical illness insurance as an inbuilt cover with health insurance plans or as an add-on. You must remember that you can always purchase critical illness cover as a standalone policy.

Tips to Buy the Most Effective Critical Illness Policy

  • Make sure you consider your present health situation.
  • Take your financial condition into consideration.
  • Determine the exact place of your financial standing.
  • Make sure you choose a plan that complements with your existing health insurance policy.
  • Select a plan that provides you with comprehensive coverage.

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