Critical illness plans: A step towards secured future

Written on Monday, October 19, 2015
By Narender Anand, Sr. VP & Product Head - GI, Bajaj Capital Ltd.

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With the changing lifestyles and habits, we all are prone to large number of diseases. Since the medical treatments are getting costlier every day, securing ourselves with a regular health plan is not enough in case of critical illnesses. Despite our age, diligent health and fitness regime, such critical illnesses can affect anyone, anytime and command expensive specialized medical services.


Critical illness insurance is a policy that pays an amount equal to the sum insured upon first diagnosis of a critical illness covered under the policy. A basic health insurance policy generally pays hospitalization bills. But a health insurance policy will not be enough if you are diagnosed of a critical illness. To help you tide over such medical exigencies, there are critical illness insurance plans that you should consider. Known as defined benefit plans, these pay you lump sum so that you can pay for the incidents. In that sense these work as income supplements.


So we should advice critical illness cover to all, including existing health insurance clients which in turn gives lot of comfort to a family as health Insurance covers the expenses but CI cover pay the entire Sum Insured on diagnosis of defined critical illness. Some health insurance plans come bundled with critical illness (as rider or add-on), but a standalone critical illness plan is more comprehensive both in terms of illnesses covered and the amount of cover it offers.


There are various companies in the market like Cigna TTK, Max-Bupa, Apollo Munich, Religare which are offering their customized solutions for Critical Illness. These are as follows:


Cigna's Critical Illness Plan

-Critical illness cover for 15 (Basic Cover) or 30 illnesses (Enhanced Cover)

-Medical second opinion

-Access to online wellness program

-The Policy is available for a sum insured from Rs. 1 Lac to 25 Crores.

-Lifetime renewals

-Policy can be availed for up to 3 years at a go



Max-Bupa "Health Assurance"Plan

This Policy provides the benefits up to the Sum Assured for the specified events occurring during the Policy Period along with the following coverage-


-Personal accident cover

-Accidental death

-Child education benefit

-Funeral expenses

-It covers 20 critical illnesses with specifications

-Hospital cash benefit

-Day care treatment



TATA-AIG Critical Illness Policy

TATA AIG also provides plan like Wellsurance Family and Wellsurance Women providing exclusive coverage to families and women respectively.


-Covers 11 major critical illnesses

-Cover is available from Rs2.5lacs-15lacs

-Second opinion benefit

-Sum assured enhancement option available

-Free look period of 15 days

-Lifelong renewals



Star "Criticare Plus" Insurance Policy

-The sum insured under this insurance is per individual member covered.

-Non-allopathic treatments covered

-Covers 11 critical illnesses

-Pre-existing diseases covered

-Free expert medical consultation over phone

-Free storage facility for storing medical records in electronic form

-Free look period of 15 days



Religare "Assure"Critical Illness Plan

Religare provides a comprehensive cover along with personal accident cover for the critical Illnesses with following features:


-Includes accidental death cover

-Covers 20 critical illnesses

-Free health check-up every year

-Get second opinion

-Zero day survival periods

-Tax benefit




#Insurance is a subject matter of solicitation. Read all documents carefully before opting for a plan.


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