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Is your Health Insurance plan adequate to cover critical illness?

Online Health insurance plans by Bajaj Allianz include individual health insurance, family floater health insurance, add on health cover, senior citizens and women specific critical health insurance policies.<br>https://www.bajajallianz.com/Corp/health-insurance/health-insurance.jsp

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Is your Health Insurance plan adequate to cover critical illness?

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  1. Health Insurance

  2. Is your Health Insurance plan adequate to cover critical illness?

  3. It was a late Sunday afternoon and I was feeling perplexed. • Researching the best antivirus software, I got so confused about various terminologies that I closed my laptop and went to a friend’s house, an IT guy, for a cup of coffee. • In the course of our conversation, while he was enlightening me on the antivirus bit, I came to know he had a similar woe, except that it pertained to insurance. • He was planning to buy insurance for his family, but was all confused between health and critical illness insurance: whether to combine both, buy them separately, or not buy them at all.

  4. Health and mediclaim policies: How similar, how different? • First of all, let us understand the fundamental point that within the broad non-life segment of insurance, health and critical illness are different categories of insurance. Both kinds of policies are sold by non-life insurance companies. • Related: Critical Illnesses and their Financial Implications in India • Speaking first of health insurance, it is an “indemnity” based insurance which reimburses the actual cost of hospitalization expenses in case you are admitted to a hospital.

  5. As against this, critical illness insurance is a “fixed benefit” insurance cover. Unlike medical insurance, here there is no mandatory requirement of hospitalization to make a claim. • As soon as you are diagnosed with a specified critical illness having a specific severity level as defined in the policy terms and conditions, your insurer is bound to release the sum assured to you in one go, irrespective of whether you’ve spent even a single rupee on treatment of illness or not. • Some health insurance policies available in the market bundle a critical illness cover with health insurance. While it seems like a good idea to buy one policy covering both requirements, that should not be the only deciding factor: policy features and premium should be compared thoroughly before signing up for such policies. • [Source: https://www.tomorrowmakers.com/articles/health-insurance/is-your-health-insurance-plan-adequate-to-cover-critical-illness]

  6. Follow us on https://www.facebook.com/BajajAllianz http://www.linkedin.com/company/653474 https://plus.google.com/+BajajAllianzGIC/posts https://twitter.com/BajajAllianz https://www.youtube.com/user/BajajAllianzGIC https://instagram.com/bajajallianzgeneral/

  7. To know more on Health Insurance: https://www.bajajallianz.com/Corp/health-insurance/health-insurance.jsp Thank You….

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