What are the important factors to consider before buying critical illness insurance
                     What are the important factors 
to consider before buying 
critical illness insurance?
BimaKaro.in
critical illness insurance :
Our daily modern lifestyle habits and occupations make us susceptible to many diseases 
that we might have not even heard of. As the world is shrinking on a global level, a lot of 
other things are also taking a backseat; the most important of them is our health. We fail to 
give due importance to our health and eventually suffer from lifelong diseases that take 
away most of our time, energy and resources.
One can argue that one already has health insurance in place, and most expenses are 
satisfied with this insurance, but there are always some extra costs that spill out of our 
pockets. It is in this case that a Critical Illness Insurance becomes mandatory. More than 
anything else, it is a safety mechanism that we must always keep at our disposal as when 
and where a medical emergency can strike is not known to anyone. At what time do the 
funds turn insufficient is not known. Hence, procuring critical illness insurance, along with 
medical insurance, is advisable. Suppose you take the insurance at an early age; it ensures 
you complete the waiting period, if any, before the risk of lifestyle diseases decreases.
critical illness insurance plan
Moreover, a significant question comes to the forefront of how does this critical illness 
insurance plan operate? What are its basic requirements that need to be fulfilled? 
How does one claim critical illness insurance and its advantages over and above the 
health insurance policy that people already have?
First of all, one needs to understand that the critical illness insurance plan is different 
from mediclaim policies. The mediclaim policies are indemnity policies which are 
regarding paying the actual expenses incurred in the treatment of the patient 
whereas, in critical illness insurance, one is paid a lump sum amount of money in case 
one is diagnosed with a critical illness. There is a definite huge amount that is paid in 
the very beginning only. There is no procuring of money afterwards but fixed, pre-
defined money that is received beforehand for the treatment.
 Factors that you need to keep in 
mind before getting critical illness 
insurance.
Survival Period: Mostly, insurance companies provide a period of 30 days. Still, it also varies on the type of illness one is suffering from. 
This means the patient needs to survive for the stipulated number of days from the date of diagnosis to claim the benefits and amount 
given for the treatment. If the patient dies before this specified time, then the claim money also lapses. It is also essential to keep in 
mind that the survival period is different from the waiting period imposed by insurers when purchasing the health insurance plan.
Covered Illnesses: Researching the kind of critical insurance plan you wish to buy is one area that must be taken care of. Some insurance 
companies cover around 20 critical illnesses. In contrast, some cover around or more than 50 diseases. So, the kind of policy that one 
needs to buy should be a well-informed decision that should be taken after reading all the terms and conditions and all the essential 
areas of concern.
Additional Covers: Health insurance policies’ primary concern is to reduce the financial burden on people and make health as the 
primary concern, not money. That is why aid is provided majorly in the form of monetary terms. In critical illness insurance, the primary 
concern is to reduce the financial burden in case of a lifelong critical illness that needs urgent attention. But in addition to this significant 
concern, other concerns are covered under this policy too like hospital cash, second e-opinion, and waiver of future premiums, wellness 
and health coaching. Having said that, it is essential to reiterate that it is highly recommendable to read all the terms and conditions 
before going in for any critical illness insurance.
Continue..
Free Look Period: Insurance companies generally provide 15 days free look period. This is the period of re-evaluation of the chosen policy and 
reconsiders your decision if needed. You can cancel the policy if you are not satisfied with the terms and conditions of the policy. Since it is a 
fixed, definite amount paid for the critical illness insurance, the hospitalisation charges are not reimbursed. It pays a lump sum amount if you 
are diagnosed with an ailment or have undergone a surgery covered under the plan after the completion of the survival period. It is advisable 
to go for a standard health insurance policy as well. The decision is always yours whether you want to go in for a standalone policy or in 
conjunction with another or existing policy.
Popular benefit payout options 
are
Different companies have different plans for critical illnesses. It is essential to read every term and condition carefully and then 
invest personally in any insurance plan. This is how a well-informed decision will help claim the benefits of critical illness 
insurance as it is a crucial decision of life and health that we take. In case of any confusion, you can take help from insurance 
experts of BimaKaro.in who shall make you understand the pros and cons of having critical illness insurance.
Conclusion
If you are someone that is looking to get good life insurance and do not want to break the bank for it then going for Term 
Insurance in the short run is highly beneficial and offers peace of mind like no other type of Insurance. Get your Term 
Insurance Plans on www.bimakaro.in now!. Just log on to www.BimaKaro.in now.