| 1- Introduction : Critical Illness Insurance |
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| Critical Illness can be described as any major illness like |
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Cancer |
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Coma |
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Coronary Artery Bypass Surgery |
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Heart Attack |
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Heart Valve Surgery |
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Kidney Failure |
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Major Organ Transplant |
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Paralysis |
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Stroke |
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Surgery to aorta |
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| Whenever this type of illness occurs it can result in large outgo of funds for treatment as well as affecting the earning capability of the person as well as his life style. |
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| Life Insurance Companies as well as General Insurance Companies/ Health Insurance Company have different products for taking care of the critical illness. |
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| Products of Life Insurance Companies make lump sum payment on diagnosis of the Critical Illness and give freedom to the insured to take any treatment or even no treatment and generally do not need any bills. It is left to the insured whether he will like to take treatment under |
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Allopathy |
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Naturopathy |
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Homeopathy |
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Yoga |
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Magnetotheraphy |
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Music Therapy |
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Diet Management |
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Stress Management |
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| Or even say no treatment. By making payment of the sum insured Life Insurance Company fulfills the commitment. |
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| General / Health Insurance Company’s take care of hospitalization as is in normal Health Insurance policy. |
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| Comparison of Critical illness cover |
| Parameter |
Life Insurance |
General/ Health Insurance |
| No. of Yrs. |
5/10/15/20 |
1 Year |
| Claim Payment |
Lump Sum on diagnosis of the Critical Illness |
For Hospitalization |
| No. of diseases |
Specified in policy 8 to 35 |
Generally all diseases are Covered. One can refer to the literature of specific company. |
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