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With a substantial increase in the number of patients suffering from illnesses like cancer, heart attack, and organ failures it has become essential to have critical insurance cover.

New Delhi: Indians are at an increased risk of lifestyle-related diseases and there are many who are suffering from diseases like cardiovascular illness and cancer, and that too, at a young age.

With a substantial increase in the number of patients suffering from illnesses like cancer, heart attack, and organ failures it has become essential to have critical insurance cover. And, due to the longer treatment tenure and the cost of non-medical and medical expenses, critical illness cover has become even more essential. 

What is a critical illness cover?
Critical Illness Plans provide coverage against specific life-threatening diseases. Treating such critical illnesses may require multiple visits to the hospital over a long period of time. What this means is that in addition to the hospitalisation cost, there will be other costs like doctor visits, medical expenses, etc. These pay a lump sum amount that can be used to cover these high expenses.

1. Things to check before opting for a critical illness plan
   It is essential to check the number of CIs covered under the plan. Shreeraj Deshpande, Chief Operating Officer, Future Generali India Insurance explained: "Companies usually have the list ready and people generally opt for the policies that cover the maximum number of illnesses. However, some policies do not cover the most common problems faced by an individual. Hence it is advisable to check that the most common diseases are included. One should also read the fine copy and have a fair idea of how the insurers have defined the diseases. It will avoid any confusion that might arise later during the reimbursement."
    
2. Why you should consider adding critical illness benefit to your existing policy?  
   While a standard health policy would cover the insured person for expenses incurred during hospitalisation, a critical illness policy will provide a lump sum benefit in the event of the insured person being diagnosed with any of the named critical illnesses covered under the policy. Subramanyam Brahmajosyula, Head -Underwriting & Reinsurance, SBI General Insurance said: "Buying critical illness cover (rider or standalone policy) with a regular health insurance policy helps in covering the overall cost of hospitalisation. Health insurance policy with critical illness cover provides a pre-defined lump sum for the diagnosed critical illness. This ensures full protection even after a diagnosis of critical illness."
    
3. When should you consider buying a critical illness policy?
   If You Have a Family History of Critical Illnesses: Mostly, the reason for critical illnesses is genetic. For instance, the risk of cancer is higher, if you have a family history of the disease. As a proactive measure, you should get a critical illness insurance policy to enjoy a secured future and avail the best possible treatment. If you already know your family’s medical history, you should definitely consider buying a critical illness plan.
    
4.  Should you consider a critical illness plan for your parents?
   There are multiple reasons basis which one should consider buying a critical illness plan for their parents. First and foremost, if there is a family history of critical illness, especially for a disease like cancer, the risk is higher. Under such circumstances, one should definitely opt for a critical insurance plan.
    
5. Individual plan or family floater
   A critical illness cover can be bought along with health insurance and life insurance policies. Brahmajosyula said: "You can buy a Critical Illness plan as an individual plan or even as a family floater. Some non-life insurance (general) insurers and standalone health insurance companies) may allow CI to be added to a base Mediclaim plan. Based on the family members’ financial condition and medical history, you can decide to opt for either individual or family floater plan."