Critical illness is any illness that is life threatening like cancer, renal failure, illnesses that require major organ transplant, paralysis and so on. It goes without saying that a family has to go through great financial upheavals to meet the costs of such illnesses. A critical illness insurance can provide the right cover for such maladies. In case the policyholder is diagnosed with any of the critical conditions, then the insurance company provides the pre- determined amount, exempted from tax.

The policy holder, however, is required to survive a certain number of days when the illness was first analyzed which is called the Survival period. This insurance is different from a regular health insurance because critical illnesses are not covered under them. Bearing the medical expenses of critical illnesses is not always easy and one should check the health insurance quotes to determine how much costlier it can be. The policy holder gets a lumpsum amount if diagnosed with an illness that is covered by the particular insurance provider.

However, illnesses occurring due to internal or congenital disorders are not covered, as are many others. One should go through the list to check which are they to prevent disappointment while making a claim. One of the reasons why this insurance can really help is because in case of critical illnesses, the patient has to miss work and if there are no employee benefits with the organization as such, then he might miss out on his income for an indefinite period of time. The money from the insurance thus provides great support to the family in such times and becomes a source of strength. Even if one has a regular health insurance, they should get a critical illness cover along with it.

Read Also: Why and How to Buy a Critical Illness Insurance Policy