Queries on Accidental Insurance plan and critical illness plan

POSTED BY suryakant ON April 4, 2014 9:02 pm COMMENTS (4)

Hi Experts,

I have a few queries with respect to Accidental Insurance plan and critical illness plan

Accidental Insurance plan:

1 – Accidental death: I heard that there is cap of max amount of life insurance one can get ( approx 20-22 times annual income for persons upto 35 yrs)
So, does this cap include existing life insurance plans + group insurance cover given by employer / accidental death cover  by employer and personal accidental death cover?
or the cap is only on cover bought by the person?

2 – As few accidental policies do not cover against terrorism (I feel it important as living in always targeted city of Mumbai), some have maximum sum assured which may be lower, also definitions of partial, temporary and total disablement are different. So, is it advisable to get 2-3 policies from different insurers? if yes, how the claim would be settled in case of disablement? in case of death, will family get sum from all the insurers completely?

Critical illness plan:
1. coverage of illnesses, waiting period, survival period, sum asured differ, also renewable age differs. So is it advisable to take 2-3 policies from different insurers?
2. As I am in good health, can I ask insurer to conduct medical test for which I will pay (even if they may not ask for it till particular age)? so as to help in handling claim dispute, if any

4 replies on this article “Queries on Accidental Insurance plan and critical illness plan”

  1. ashalanshu says:

    Dear Suryakant, before purchasing a CI plan, please read in detail as well as understand the same with the help of doctor that in what cases or situation the CI policy ‘ll pay and in what it ‘ll not pay.



  2. suryakant says:

    Thanks Vksnathan & Ashalanshu.

    I feel critical cover is needed at least in my case. I have home loan. In case of critical illness, medical expenses will be taken care of by mediclaim but what about heavy expenses like EMI, if I am not able go to work for a few days?
    Because, mediclaim will not pay me single penny other than medical expenses. In case of critical illness, they pay it on lumpsum basis.
    How do we take care of this situation? Any other option?

  3. ashalanshu says:

    Dear Suryakant, group covers provided by employers are not counted. Accident policies are also different thing. So basic life cover purchased by you as an individual is counted.

    Critical illness – please read the reply above given by dear VKSnathan.



  4. vksnathan says:

    This answer pertains to the query on Critical Illness Plans in the Indian Market.

    I searched for a good critical illness plan a year ago with coverage for maximum number of critical diseases.However I found that there were a lot of additional clauses containing complicated medical verbatim.Also I found that they do not cover pre existing illness and medical conditions caused by pre existing illness.The Claim settlement ratio for critical illness plans is also very poor due to the additional clauses.

    A very good suggestion was given by Pattu at that time to increase the mediclaim cover instead of going for standalone critical illness plan.So I dropped the idea of critical illness cover and went for increase of mediclaim cover.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.