Critical Illness Insurance

Critical Illness Health Insurance

Critical illnesses are illnesses which might prove fatal and require intensive treatments. Such treatments are quite expensive and pose a burden on every common man’s finances. Critical illness health plans, therefore, prove quite useful. These plans help in meeting the high costs associated with critical illnesses. As such, the plans provide financial security. Let’s understand the concept and working of a critical illness health insurance plan.

What are critical illness health plans?

Critical illness health plans are fixed benefit health insurance plans which cover a specified list of critical illnesses. Some common illnesses covered include cancer, stroke, heart attack, major organ transplants, liver failure, lung failure, multiple sclerosis, etc. If the policyholder is diagnosed with any of the covered critical illnesses during the term of the plan, the sum insured is paid in lump sum irrespective of the actual medical costs incurred.