April 24, 2012 6:21 pm
I need a standalone Critical Illness Cover.I am a healthy,non-smoker who has comprehensive health coverage from employer.
Please suggest suitable plan and insurance company.
Please let me know any policy which will pay the sum assured to the insured in case of disability due to some critical illness.It should be over and above the medical/hospitalisation expenses.
Dear Bankim, Please check CI policies of all front line General Insurers. there is no good or bad thing in case of CI policies. All CI policies ‘ll pay the sum assured as per the T & C of the policy in question no matter who the insurer is?
Frankly speaking I searched a lot,but yet to get an insurer who covers against disability caused by illness.It would help me immensely if you could name a few insurers and their product.
Dear Bankim, in case of a CI policy, normally you ‘ll receive the Sum assured upfront, no matter you are abled or disabled. If you intend for income during disability like PAP, I doubt there is any CI policy offering the same.
Just a small point on your mediclaim point.
Even if you have the most comprehensive plan from your employer, please consider having your own mediclaim cover. In case of moving jobs, or in unfortunate event of job loss, the employer provided cover wont help you. Also, you have very little control over the terms and conditions of the employer provided cover. In case SA is reduced, exclusions are added, very less you can do about it.
In my view, while critical illness cover is a good to have, OWN mediclaim cover is a must-have.
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