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Five Ways a Critical Illness Plan Protects You During Health Emergency

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For a long time now, heart disease has been one of the primary death causes worldwide. According to the Indian Council of Medical Research, stroke was the fourth leading cause of death and the fifth leading cause of DALY (Disability Adjusted Life Years) in India in 2016. Stroke, cancer, total blindness, Parkinson’s disease, end-stage liver disease, myocardial infarction (also known as a heart attack), coronary artery bypass graft, etc., all fall under the list of critical illnesses.

In the face of such a grim reality, buying a critical illness policy becomes highly advisable. Let’s find out five ways a critical illness cover protects you and your family’s health and finances during severe health emergencies.

1.        Financial Support with Comprehensive Coverage

Unfortunately, if you contract a critical illness, it is likely that your treatment costs will exceed your budget. And your health insurance might fall short of providing you with adequate coverage. Also, many health insurance policies do not provide coverage for serious conditions like kidney or liver failure. That’s when having a critical illness plan comes as a boon. The coverage for life-threatening diseases ensures that there is no financial burden on you and your family.

Also, treatment of severe conditions involve a chain of other medical and non-medical expenses, like regular doctor’s consultation, medications, therapies, etc. Thus, it is advisable to compare and choose a critical illness plan that provides optimum benefits and features, as offered by Care Health Insurance. Care Health Insurance’s critical illness insurance covers you 32 critical illnesses and ailments. We’ll discuss more about their policy benefits at the end of this article.

2.      Tax Benefit Under Section 80D

You can claim the premium you pay towards your critical illness plan when filing for income tax. The policy for insurance for self, spouse, and dependent children offers tax benefit of up to Rs.25,000 under Section 80D. Also, you are eligible for claim deductions on the premium paid on your parents’ behalf.

If your parents are under the age of 60, the upper ceiling for tax benefits is INR 25,000, while the threshold for parents above 60 is INR 75,000. The best part is that if you are over 60 and are responsible for your parents’ premium, you can enjoy tax benefits for a maximum deduction of INR 1 lakh.

3.      Backup for Financial Obligations

In the unfortunate event that an individual is battling for life against a severe disease, they may lose their ability to continue working and earn a livelihood. This means that they have a threat of losing their steady income stream resulting in long-term financial distress.

Here’s when the financial coverage under a critical illness plan comes like a blessing. The policyholder is eligible to use the coverage amount received the way they deem fit, and this can be a benefit to replace the lost income and meet financial obligations.

4.      Facility of Second Opinion

The treatment of severe illnesses can be extensive and exhaustive. It can affect a person on all levels – physically, emotionally, and mentally. In such a situation, you need to be sure that the advice given by your doctor is the best for you. Critical illness plan from reputable insurers covers alternate treatments, chemotherapy, and radiotherapy and provide the benefit of an international second opinion. Under Care Health Insurance’s critical illness insurance coverage, if you are not satisfied with your current diagnosis or treatment consultation, you can avail of a second opinion from anywhere in India.

5.      Regular Health Tracking with Annual Health Check-Ups

Another valuable benefit of a critical illness plan is the facility for annual health check-ups. To ensure good health, regular annual health check-ups ensure the early detection of critical illnesses because prevention is always better than cure.

Now that you are aware of the basics of a critical illness plan, you should consider buying one for yourself and your family for a secured future. If you are not sure which insurer to choose, we suggest checking out Care Health Insurance. One of the leading health insurers, Care Health Insurance, offers some of the best comprehensive plans with wide coverage, including 32 critical diseases, OPD expenses, alternative treatments, no-claim bonus, and more. So, make sure you choose the right health cover to safeguard your health against unprecedented illnesses.

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About the author


Editor in chief for eTurboNew is Linda Hohnholz. She is based in the eTN HQ in Honolulu, Hawaii.

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