What Does ‘Critical Illness’ Mean?

According to insurance companies, it is defined as “a state of serious health condition that has a debilitating effect on an individual’s lifestyle and requires a considerable amount of money towards treatment, which could also result in loss of income due to inability to work.” Such a condition can also lead to loss of job/livelihood due to permanent Critical-Illness Policy Cover Plan This policy covers a few (not all) (presumed to be) life-threatening diseases. This is a lump-sum payment made post the operative period after a stipulated time of survival. The number of critical illnesses restricted. is rather There is a minimum waiting period of three months before any claim can be entertained. The policy expires once a claim has been made. Due to restricted cover, the premium cheaper for the same sum assured. is