1.Lump Sum Payment: Upon diagnosis of a covered critical illness, the policy pays out a lump sum benefit. This amount can be used at your discretion, whether for medical expenses, daily living costs, or other financial needs.

2.No Medical Exam: Many critical illness insurance policies do not require a medical exam, making the application process simpler and faster.

3.Coverage for Major Illnesses: Policies typically cover a range of serious conditions such as cancer, heart attack, stroke, and organ transplants. The specific illnesses covered can vary by policy.

4.Supplemental Coverage: This insurance is designed to complement your existing health insurance, covering expenses that your primary health plan may not fully address.

5.The basic individual plan for critical illness insurance comprises 25 covered conditions that are eligible for a full-benefit payout.

6.Coverage Until Age 75: The plan remains active until the age of 75 or for the chosen term. If no claims are made, the policy matures with a money-back option, which includes:

Cost: Premiums for critical illness insurance can vary based on factors such as age, health, and the amount of coverage. It’s important to weigh the cost against the potential benefits.

Policy Exclusions: Not all illnesses are covered, and policies may have specific exclusions and limitations. It’s crucial to understand what is and isn’t covered before purchasing a policy.

Waiting Periods Some policies may have waiting periods before coverage begins, so it’s important to be aware of these terms.