Critical Illness Health Insurance: Why It is A Need of an Hour? | Fusion - WeRIndia

Health insurance market is stuffed with a plethora of plans. Choosing the right plan that caters your health care requirement can be a daunting task. However, considering the present situation, where medical inflation is galloping, pollution and life-threating diseases are increasing, critical illness policy is a need of an hour. It is the health insurance designed to provide coverage against life-threating diseases.

Critical Illness Health Insurance

Under this plan, you receive the sum insured in a lump sum once you diagnose with cancer, kidney failure, heart ailment, and so on. You can use the one-time amount for the treatment, medicines, and recuperation expenses. Even you can pay off the debt that you make take for your treatment. In critical illness health policy, you can make a claim only after the completion of survival period. These plans have a bit higher premium amount with maximum coverage.

Here are the reasons that support why critical illness health insurance is important:

Lump sum Amount

Under critical illness, you get the lump sum amount after you submit the diagnosis to the insurance company. You can pay for in-patient hospitalization, diagnosis, and medication. Also bears the expenses related to air ambulance cost, chemotherapy & radiotherapy cover, dialysis cover, organ donor cover, second opinion, and annual health check- ups.

Critical Illnesses Coverage

Critical illnesses such as Cancer, End-Stage Renal Failure, Multiple Sclerosis, Benign Brain Tumour, Motor Neuron Disorder, End-Stage Lung Disease, Major Organ Transplant, Stroke, Paralysis, and Coma are covered under this plan. The treatments of such illnesses are expensive and on-going. Thus, you do not need to ask money to anyone for the treatment.

In-Patient Hospitalization

If the in-patient hospitalization in the network hospital is for more than 24 hours, then we cover your hospitalization expenses. These expenses include your room charges, nursing expenses, ICU, surgeon’s fee, doctor’s fee, blood, oxygen, and OT (operation theatre changers).

Day Care Treatments

Day care treatment means the treatment where you do not need to admit in the hospital for a day. Critical illness policy also covers your day care treatment. Cataract surgery, chemotherapy, dialysis, or treatment or therapy requires hospitalization for a day. So, if you are going for it, then you will get the amount for room rent, doctor’s visit, medicines, etc.

Pre and post hospitalization

We cover your pre and posts hospitalization expenses that include diagnosis, treatment, and medicine expenses, along with doctors’ fees. Treatment costs such as dialysis, day care treatments, and surgeries are also covered.

Additional Covers

Plan also offers additional covers such as ambulance cover, recharge of sum insured, alternative treatment, doctor on call, global coverage, domiciliary hospitalization, and so on. You will also get the reimbursement for these expenses.

Free Annual Health Check-Ups

Under critical illness plan you can also avail free annual health check-ups. The package includes tests for blood sugar, urine routine, blood groups, kidney function, and ECG check-ups. You do not need to pay any charges for the test that saves your lots of money annually.

Tax Exemption

Under section 80 D, of the Income Tax Act 1961, premiums paid for critical illness health insurance either for self, dependent parents, spouse or children, is entitled for tax exemption up to Rs.60, 000. However, the taxable amount is subjected to income, age, number of persons insured, etc.

Suggestion

Thus, critical illness policy is very helpful. It gives you financial assistance to bear your hospitalization and treatment costs. You can opt for critical illness plan offered by Religare Health Insurance that covers around 30 life-threatening diseases and have tie-ups with 7400+ network hospitals across the country. So, you can get the best possible treatment and focus on your recovery with peace of mind.
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