What Does ‘Crit­i­cal Ill­ness’ Mean?

Consumer Voice - - Insurance For Critical Illnesses -

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

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