What Are the Critical Illnesses Covered by Health Insurance?

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You may have acquired life insurance coverage for the financial stability of your loved ones in case of an unfortunate incident. However, have you secured your financial stability in case of a critical illness?

Availing of health coverage for such illnesses is an excellent way to achieve this. A critical illness plan pays you the policy benefits in case you are diagnosed with an illness covered under the same. The money may be used to meet the treatment costs, to pay for regular expenses, or to repay any outstanding debt.

Benefits of critical health insurance

Most of the critical illness insurance plans aim to offer comprehensive protection against major ailments such as cancer, kidney failure, stroke, and others. Here are some benefits offered by such plans:

  • Sum assured of up to INR 1 crore
  • When diagnosed with any covered ailment, the insurer pays a lump sum
  • Coverage for up to 60 different critical ailments
  • In case you are diagnosed with more than one covered ailment, you can avail of benefits up to 150%
  • Payout available even at the early stage of illness with continued coverage
  • Lower survival period once you are diagnosed with the critical health condition
  • An additional benefit of wellness coach may be availed to help you recover and regain your health
  • The choice to take a second opinion from a team of specialized medical practitioners

In addition to the aforementioned benefits, the premium paid for a critical illness insurance policy is eligible for tax deductions under section 80D of the Income Tax (IT) Act, 1961.

Critical illnesses covered

Before you make your decision to purchase critical illness coverage, it is important to read the policy document in detail. You should familiarize yourself with the illnesses that are included and excluded. In addition, you must know all the terms and conditions under which the benefits will be available.

Here are some common ailments that are covered under health insurance for critical illness plan:

  • Cancer of specific severity
  • Myocardial infarction, which is a first heart attack of a certain severity
  • Open heart coronary artery bypass grafting (CABG)
  • Open heart replacement or repair of valves
  • Kidney failure requiring dialysis at regular intervals
  • Permanent symptoms resulting due to stroke
  • Major organ and bone marrow transplant
  • Permanent paralysis of limbs due to injury or disease to the spinal cord or brain
  • Multiple sclerosis with persistent symptoms
  • Specified severity coma
  • Permanent symptoms caused by motor neuron disease
  • Total and irreversible loss of vision
  • Third-degree burns resulting in scarring of at least 20% of your body area
  • Parkinson’s disease
  • Alzheimer’s disease
  • Non-cancerous brain tumor
  • Aorta graft surgery
  • Total and irreversible hearing loss due to an injury or accident
  • Permanent loss of limbs due to accident or injury
  • Total and irreversible loss of speech because of injury to vocal cords
  • Aplastic anemia
  • Last-stage liver failure
  • End-stage lung failure
  • Primary pulmonary hypertension
  • Bacterial meningitis
  • Apallic syndrome, unresponsive wakefulness syndrome, or persistent vegetative state
  • Coronary angioplasty
  • Encephalitis
  • Chronic relapsing pancreatitis

In addition to the aforementioned conditions, several more ailments are covered under a critical illness plan.

Secure your financial stability today by investing in a critical illness insurance policy.