Critical Illness – 50 Lacs – Can we buy it?

POSTED BY Kapil ON February 9, 2013 11:05 pm COMMENTS (6)

Hello Experts,

I spoke to a rep at Medimanage and he informed me that I cannot get a CI of above 10 lacs. Is it true?

If yes, then it entirely defeats the purpose of buying a CI. For me, purpose of CI is to insure my income (am a sole bread earner for my family).

I am 29 yrs old at the moment. If I buy a 10 Lacs CI now, and make a claim when I am at 40-45, 10 Lac will mean nothing. How can a CI having 10 Lac coverage amount help me and my family, when a need arises?

I believe that ideally I should be having a coverage of 10 times of my annual salary for my Term, PA and CI policies. Let me know if I am incorrect.

I understand that purpose of mediclaim will be cover my hospital expenses and purpose of CI is to provide me salary (which I would invest the lumpsum that I get), so that my family can maintain the same lifestyle, even when I am not earning because of the illness that has been diagnosed.

Let me know of my understanding is incorrect.

Suggest me further steps. Thanks.


6 replies on this article “Critical Illness – 50 Lacs – Can we buy it?”

  1. tejas77 says:

    It is important to read which illnesses are covered and their definition in details.

    e.g. for Heart attack, they want symptoms, laboratory results and ECG changes — all 3 of them to consider your claim under that category.

    There are couple of pages of small print to read and understand what’s covered and not covered in critical illnesses.

    I took Aviva isecure policy (CI) for sum assured of 35 Lacs. Maximum available is 50 Lac. They cover about 8 critical illnesses.

  2. Dear Vikash, please check the Icici Lomabard site for details on this CI policy.



  3. Vikash says:

    It’s not ICICI lombard but ICICI pru. Generally, Life insurance companies cover more critical illness than health insurance one.

  4. Vikash says:

    If you need high sum assured, then you can divided between two.

    Max Life LifeLine Wellness has max limit of Rs. 20 Lacs. It covers 38 critical illness which i think is highest in the industry.

    ICICI Lombard max limit is Rs. 20 Lakh. It covers 35 critical illness.

    If your requirement is high sum assured , Then take 20 Lacs each from ICICI and Max. IMO, 40 lacs is more than enough. In addition, both these policies providing highest number of critical illness which is the most important factor.

    I don’t know any other policy that covers 35-38 critical illness. Most of them providing only between 8-20. Hence, go with max i.e. ICICI and Max.


  5. Dear Kapil, your understanding is correct regarding the need of CI. What Medimanage executive has told you, is not right. ICICI Lombard is offering cover for a max. SA of 12L Rs. & Avivai is offering a cover of 50L Rs. Please check with some more insurers also.



  6. Yes you are correct!

    Also please see the comments by Ramesh in this thread about the disadvantages of a CI cover


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