Observing the increase in the occurrence of illnesses we all know the importance of an insurance plan which covers it. Now, most of us are covered by health plans offered by general insurance service providers but let me tell you the difference between a health plan and a critical illness plan!
- A critical illness plan is different from a medical insurance plan in the following sense:
- A medical insurance plan needs the life assured to undergo hospitalization whereas in a critical illness plan, diagnosis is enough to avail of the critical illness cover.
- Medical insurance does not cover loss of income owing to onset of ailment whereas critical illness cover provides for any kind of requirement.
- A medical insurance plan does not cover for payment of EMI’s on home etc in the event of indisposition of the breadwinner, the provision of which is there in critical illness plan.
Now, that we know the importance of a critical illness plan. Let’s look at the critical illness plans in the market.
EdelweissTokio life – CritiCare+ is a critical illness plan which covers 17 critical illnesses while most companies like Aegon and HDFC life only cover cancer. Now being protected against cancer is good knowing the increase in the percentage of people suffering from cancer. But even heart disease and kidney failure are prevalent, what about securing yourself against them?
So I would rather not take any risk and cover myself against common critical illnesses. Also some companies like ICICI provide a critical illness rider and not a standalone plan in which case you end up spending the same on adding the rider and you are taking a chance on your term cover. One great option you get in Edelweiss TokioLife – CritiCare+ is that you can choose the multi-claim option. Even for ICICI Pru iProtect there is no option of multiple claims & the critical illness cover ceases after the first claim and also you have to compromise on your term cover.
The policy remains in force only for the death benefit that too your sum assured will reduce accordingly.
With Edelweiss Tokio Life – Criticare+, you have the following benefits:
- It covers 17 major illnesses including kidney failure, cancer, stroke, organ transplants etc.
- It’s a stand-alone plan and not very expensive.
- It provides a multi-claim option wherein you can claim up to 3 times during the policy tenure & also receive a waiver of future premiums after first claim which is a very good feature. Because after a critical illness your income could be hampered so waiver of premium will be a major satisfaction. Also the chances falling prey to another critical illness increases, it’s always better to be financially prepared for it.
So according to me Edelweiss Tokio Life – CritiCare+ is one of the decent critical illness plan in the market that will help one bounceback.
Note: This article has been sponsored by the respective Business House.