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Critical Illness Insurance Policy

What is Critical Illness Insurance

Critical Illness Insurance Policy is a type of insurance policy, that provides a lump sum pay-out to the policyholder; in case they are diagnosed with a critical illness, that is covered under the policy. The policy covers a range of serious illnesses and medical conditions, such as cancer, heart attack, stroke, and kidney failure, among others.

What is Covered in Critical Illness Insurance

The coverage of a Critical Illness Insurance Policy may vary across different insurers. However, typically, the policy covers the following critical illnesses

Coma

Stroke

Cancer

Hepatitis

Paralysis

Heart Attack

Severe burns

Kidney Failure

Aortic Surgery

Multiple Sclerosis

Parkinson’s disease

Benign brain tumour

Liver and lung diseases

Major Organ Transplant

Meningitis and anaemia

Permanent limb paralysis

Loss of speech and hearing

Permanent neurological diseases

Coronary Artery Bypass Graft (CABG)

Add-On covers in Critical Illness Insurance

Some of the common add-on covers in a Critical Illness Insurance Policy are

Surgical Benefit Cover

Ambulance Cover

Hospital Daily Cash Benefit

Income Benefit Cover

Premium Waiver Benefit

What Is Not Covered in Critical Illness Insurance

Some of the common exclusions in a Critical Illness Insurance Policy are

Pre-existing conditions denied by the insurer

Conditions which were not informed by the insured to the insurance company

Illnesses or medical conditions that are not covered under the policy

Illnesses or medical conditions that arise due to drug or alcohol abuse

Illnesses or medical conditions that arise due to participation in hazardous activities or sports

Why do you need a Critical Illness Insurance

A Critical Illness Insurance Policy provides financial protection against the high costs of treating critical illnesses.

The lump sum pay out can help you pay for medical expenses, hospitalization, and other related costs, such as transportation, accommodation, and loss of income.

It can also provide financial support to your family in case of your absence or inability to work due to the critical illness.

Key Highlights of Critical Illness policy

Lump sum pay out on diagnosis of a covered critical illness

Coverage for a range of critical illnesses and medical conditions

Optional add-on covers to enhance the coverage

Flexible policy terms and coverage options

Tax benefits under Section 80D of the Income Tax Act, 1961

How To Buy Online Policy from PolicyLeader

1. Visit the PolicyLeader website

Go to the PolicyLeader website (www.policyleader.co.in) and select "Critical Illness policy" from the list of insurance products.

2. Provide personal details

Fill in your personal details such as name, age, and contact information. You may also be required to provide details about your medical history.

3. Choose a policy

PolicyLeader offers a range of individual health insurance policies from various insurance companies. Review the policy details, coverage, and premium amounts to choose a policy that best meets your needs.

4. Compare policies

Use the comparison tool to compare policies from different insurance companies based on factors such as premium, coverage, and exclusions.

5. Customize your policy

You can customize your policy by adding or removing riders (add-on covers) to suit your specific needs.

6. Pay the premium

Once you have chosen a policy, pay the premium online using a debit card, credit card, or net banking.

7. Receive the policy documents

After the payment is confirmed, the policy documents will be emailed to you. The policy documents will contain all the details of your policy, including the coverage, exclusions, and terms and conditions.

How to file a Critical Illness policy claim

1. Notify the insurance company

As soon as you are aware of the need to file a claim, notify the insurance company by calling their customer service or through their website. Provide details such as policy number, name of the insured person, date of hospitalization, and reason for hospitalization.

2. Submit the claim form

Fill in the necessary details and submit it along with the required documents to the insurance company.

3. Provide necessary documents

The insurance company may require documents such as hospital bills, medical reports, discharge summary, prescription receipts, and diagnostic reports to process the claim. Ensure that you have all the necessary documents and submit them along with the claim form.

4. Wait for claim approval

The insurance company will review the claim and verify the documents submitted. If the claim is approved, the insurance company will reimburse the medical expenses as per the terms and conditions of the policy.

5. Cashless claims

If the insured person has opted for cashless hospitalization, the insurance company settles the bills directly with the hospital. However, ensure that the hospital is part of the insurance company's network and follow the necessary procedures for cashless claims.

Documents Required for Critical Illness policy

Identity proof: PAN card, Aadhaar card, passport, voter ID, driving license, etc.
Age proof: Birth certificate, school leaving certificate, passport, Aadhaar card, etc.
Address proof: Aadhaar card, passport, driving license, utility bills, etc.
Medical reports: Reports related to pre-existing medical conditions, if any.
Income proof: Salary slips, ITR statements, bank statements, etc.
Policy application form: Filled and signed policy application form.
Passport-sized photographs: Recent passport-sized photographs of the policyholder.
Cancelled cheque: For policy premium payment through ECS.
Other documents: Any other documents as requested by the insurance company.

Why should you choose PolicyLeader for buying Critical Illness policy

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Instant claim support

PolicyLeader offers instant claim support to ensure that the policyholders can receive timely assistance in case of any medical emergencies. They have a dedicated customer support team that is available round-the-clock to assist with claim-related queries and guide the policyholders through the claim settlement process.

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Schedule a home visit with our advisors

PolicyLeader provides the convenience of scheduling a home visit with their advisors to discuss the policy options, understand the individual's needs, and help them choose the best policy that suits their requirements. This service is particularly beneficial for those who are not comfortable with online transactions or prefer face-to-face interactions.

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Customised 1:1 planning

PolicyLeader offers customized 1:1 planning to ensure that the policyholders get the best possible coverage as per their specific requirements. Their experienced advisors analyse the policyholder's needs, assess their risk profile, and suggest the most appropriate policy options that offer comprehensive coverage at affordable premiums.

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Multiple Insurers Under One Roof and Insurance Brokers in Gujarat and around the country

PolicyLeader has tied up with multiple insurers and offers a wide range of policy options under one roof. This ensures that the policyholders can compare and choose from the best policies from leading insurers. Additionally, they have a strong presence and experienced insurance brokers in Gujarat and around the country, providing personalized and professional service to the policyholders.