Critical Illness
-
Ans
Queries related to Critical illness:
Read More -
Ans
Critical Illness Policy is a Fixed
Read MoreBenefit Plan. The insurance will get the full sum insured irrespective whether one is hospitalised or not or what is the actual expenses for the treatment. The list may vary depending on the Insurance Company you have chosen. It is important to check the number illnesses covered and the additional benefits offered before choosing the right product. -
Ans
Survival Period is the length of time the insured must survive after he/she has been diagnosed with a covered Critical Illness. The duration or Length of the Survival period varies among different Insurance Companies. It can vary between 14days to 30 days. The insurance company would pay the
Read Morebenefit payout only after completion of the survival period. However, if the insured dies during the survival period, no benefits will be paid to the nominee. Here, Critical Illness benefits are meant to be used as a Living Benefit by the insured to recover the losses from the Illness and not a Death Benefit. -
Ans
Definition for the Major Critical Illness:-
Read More -
Ans
There are different kinds of Insurance Plans available in the market. The basic types are Mediclaim/ Health Insurance, Critical Illness, Personal Accident Policy, Hospital Cash Benefit, Senior Citizen Health Insurance, etc. A lot of people often get confused between a Health Insurance Plan & Critical Illness Policy.
Read More -
Ans
Critical Illness Plan covers an individual against Serious Illness which has a debilitating effect on their lifestyle, financial conditions and require a considerable amount of money to take care of the treatments. Sometimes it also leads to loss of income due to inability to work or require a long leave post the treatment. However, before buying a Critical Illness Plan, it is important to read the Policy Terms & Conditions Carefully. If you tend to ignore it, there are instances where you are bound to face claim rejection.
Read More -
Ans
The Insured needs to provide the below documents for the initial assessment of the claim. All Documents should be original and submitted at to the Insurance Company along with the Claim Form. List of documents required are:-
Read More -
Ans
Generally, most of the policies offer a Lump Sum payout options under a Critical Illness Cover. Whenever an insured is diagnosed with a listed critical illness (Post the Survival Period is completed from the date of diagnosis or the Initial waiting period is completed from the date of inception of the policy) a lump-sum amount is paid to the insured.
Read More -
Ans
Yes. Critical Illness cover acts like a financial aid when you are diagnosed with a major illness. Before we dig into the reasons to buy a Critical Illness Plan, let us look at certain facts related to our current lifestyle and the illness that we are prone to:-
Read More -
Ans
Yes. As per the rule passed by IRDA – Insurance regulatory Development Authority of India, effective 1st Oct 2011, which allows portability from one insurance companies to another insurance company without losing any renewal benefits.
Read More