5 Essential Things To Look For While Buying A Critical Illness Plan
So, you have decided to buy a critical illness insurance plan but don’t know how to get started. Worry not. You can get started keeping these five important things in mind.
Get a fix on the insurer
You can attach a critical illness rider to a new life insurance plan or could buy it as a standalone critical illness plan from a life insurance or general insurance company.
Figure out the plan term you need
While general insurer companies offer critical illness coverage for 1-5 years, life insurers provide it for a longer term of 10-20 years.
Check out the extent of coverage
Ensure your plan has the widest coverage possible for financially debilitating critical illnesses such as cancer, heart attack, kidney failure and major organ transplant.
Understand when benefits kick in
A typical feature of critical illness plans is that the insured person needs to survive 30 successive days after the diagnosis of the critical illness to make the claim. Be aware of such conditions related to the coverage.
Find out about medical examination
There could be a medical examination conducted in empanelled hospitals depending on the age, sum insured and any adverse health declaration on the proposal form.
