Knowing the increase in the occurrence of  illnesses these days, a health cover is of utmost importance.

But is having only a health insurance enough? Your health insurance will provide you a cover against illnesses like malaria, minor surgeries, injuries, etc but what about critical illnesses like cancer, kidney failure, heart disease etc?

Do you think that only having a health cover will provide a comprehensive protection? It may only pay for your hospitalisation bills depending on your sum assured but it will not cover your other treatment cost which may not need hospitalisation, it will not pay your EMIs when you are not in a position to work post a critical illness.

A critical illness insurance will help you cover these expenses. A critical illness insurance provides a lump sum amount on the diagnosis of a critical illness, one doesn’t have to submit hospitalisation bills.

This lumpsum amount can be used the way the policyholder wants to; for example he/she can use this to pay his EMIs, get an advanced treatment done abroad, etc.

A critical illness insurance is provided both by general and life insurance companies. Some Life insurance companies like Aegon and HDFC provide cover only against cancer. However, there’s a considerable increase in the occurrence of critical illnesses like Chronic Kidney Disorder and heart disease (which is the number one killer in India).

Edelweiss Tokio Life also has a critical illness plan, this plan covers 17 critical illnesses which include cancer, heart disease, kidney failure, major burns, organ transplant, etc. ICICI Prudential Life also provides a critical illness rider which can be added with the term plan if bought from the same insurance company.

However, the plan provided by Edelweiss Tokio Life has a multiclaim option under which a customer can claim thrice. It’s also a stand alone plan and not a rider. Hence, no one is forced to buy another plan with it. The plan seems to be providing comprehensive financial protection against critical illnesses and so it can help one bounceback from a critical illness without any financial worries!

Disclaimer– This is a guest post.