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Best Critical Illness Insurance Plans in India in 2022

Best Critical Illness Insurance Plan in India - Top Critical Illness Insurance Policies

Health insurance plans have medical insurance coverage in case of hospitalization. In case of diagnosis of any critical illnesses, one can get treatment in hospital. This would take care of hospitalization expenses. However, there could be loss of income and further treatment to be done in the coming years after critical illness being diagnosed which would not be covered in health insurance. Here come Critical Illness Insurance Plans. These plans provide coverage in case of diagnosis of critical illness. What is Critical Illness Insurance Plan? Which is the Best Critical Illness Insurance Plans in India to buy in 2022?

What is Critical Illness Insurance Plan?

The Critical Illness Plan covers life threatening and long term diseases which would require expensive medical treatment. Critical illnesses that are covered are heart attack, kidney failure, cancer etc., This would depend on the policy issued by the insurance company.

Under Critical illness insurance plan, lump sum amount would be paid in case of diagnosis of any of the critical illness indicated in the policy document. Such lump sum would be paid on the basis of diagnostic reports and without any need for hospitalization.

Also Read: Best Health Insurance Plans in India

Features of Critical Illness Insurance Plans

Here are the key features of Critical Illness Insurance Policies.

  • Coverage for major critical illnesses
  • Insurance company would provide lump sum payment in case of diagnostic of any of the critical illness indicated in the policy document.
  • The claim would be easily processed based on diagnosis reports.
  • Premium paid under a critical illness insurance plan is exempt from income tax u/s 80D up to Rs 15,000 for individuals and Rs 20,000 for Senior Citizens.

What is covered in Critical Illness Insurance Plan?

Below is the list of critical illness coverage offered by insurance plans. The cover might vary depending on the policy offered by insurance companies. In case of diagnosis of any of these critical illnesses, lump sum amount would be paid by the insurance company to the policyholder or nominee.

  • Cancer
  • Heart Stroke
  • First heart attack of specified severity
  • Paralysis of both limbs
  • Multiple Sclerosis
  • Major organ transplant
  • CABG
  • Repair of heart valves
  • Coma of specified severity
  • Bone marrow transplant
  • Motor neuron disease
  • Aplastic anemia
  • End-stage liver disease, etc.

What is NOT covered in Critical Illness Insurance Plan?

These plans do not cover hospitalization expenses or any other illness that is not covered in the policy document. It also does not cover the following in majority of the cases.

  • Pre-existing critical illnesses
  • Illnesses suffered due to war or nuclear contamination
  • Illnesses suffered during the initial waiting period (Ranges from 30 to 90 days)
  • Illnesses due to consumption of alcohol, drugs and/or tobacco
  • HIV/AIDS and other diseases which are sexually transmitted
  • Pregnancy and related expenses
  • Cosmetic treatments
  • International treatments, etc.

How to select a good Critical Illness Insurance Plan?

Below parameters can be considered while selecting an illness insurance plan.

  • Select adequate sum insured which you think it would be beneficial to you.
  • There would be an initial waiting period of 30 days in the majority of the cases. One should consider plans which have a low initial waiting period.
  • Consider a plan based on family medical history. As an example, if there is a family history of cancer, consider critical illness that covers this illness. Similarly, if there are any heart diseases among the family members, consider insurance plan that covers heart problems. Insurance companies provide coverage over 35 critical illnesses.
  • Consider critical illness that provides renewals for maximum age or lifelong renewability option.

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Best Critical Illness Insurance Plan in India in 2022

Here is the list of critical illness insurance comparison along with key features.

Critical Illness Insurance Plan Key Features
Star Criticare Plus Insurance Policy 9 critical illnesses are covered
No survival period
Non-allopathic treatments are also covered
Coverage for hospitalisation expenses even after paying the claim
Care Assure 20 critical illnesses are covered
Sum insured up to Rs 1 crore
No survival period
Inbuilt coverage for the personal accident too
Free health check-ups and medical second opinion
HDFC ERGO Optima Vital 37 critical illnesses are covered
Sum insured up to Rs 50 lacs
E-opinion is available on the diagnosis of critical illness
Value-added services of healthline and health risk assessment
Manipal Cigna Lifestyle Protection – Critical Care Insurance Plan 30 critical illnesses are covered
Sum insured up to Rs 3 crores
A claim can be received in one lump sum or in staggered payments
Online wellness programs developed for policyholders
Free medical second opinion in a critical illness
Bajaj Allianz Critical Illness Plan 10 major illnesses are covered
Sum insured up to Rs 50 lacs
Claim settlement through the specially developed app
HDFC Ergo Critical Illness Policy Comes in two variants. Covereage up to 16 illnesses
Sum insured up to Rs 10 lacs
Reliance Critical Illness Policy 10 major illnesses are covered
Sum insured up to Rs 10 lacs
Easy claim settlement
Future Criticare Plan 12 major illnesses are covered
Sum insured up to Rs 50 lacs
Floater coverage is available
Suresh KP

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