•  
  • 1800-102-2355
  • Contact Us
  • Enquiry Form
  • Pay your
    Premium
    Pay your Premium

    Pay your premium online


    Other payment options

  • CALCULATORS
    Calculator

    Human Life Value Calculator

    Future Ready Calculator

    Premium Calculator / Benefit Illustration

    Future Ready Calculator


  • Send an
    Advisor
    Send an Advisor

    (Meeting a child plan specialist is purely voluntary and insurer does not offer any cashback for the same)

    *City
    Click to Change image
Future Generali why take a chance

6 Myths and facts about critical illness insurance

/ 5 ( PAGE REVIEWS)

Critical illness insurance remains a highly misjudged insurance type amongst the policy seekers. The misunderstanding results due to its somewhat similar characteristics with health insurance.

Therefore, before you purchase any specific plan,
have a precise understanding of:

Rising incidences of critical illnesses

How does a critical illness plan help?

How it differs from basic health insurance?

What benefits does it offer?

Critical Illness Statistics (India)

Cancer

  • Number of cancer deaths every two minutes- 3
  • Age group of maximum number of deaths (70%)- 30-69 years
  • Number of new cancer cases each year: 1.23 million
  • Expected increase in the number of cancer cases by 2025 (ICMR)- 5 times
  • Per chemotherapy cycle can cost between- Rs 60,000 to Rs 1.9 lakh

Heart Diseases

  • India tops the chart for world’s most heart failure deaths at 23%
  • 900 individuals under 30 die due to heart disease every day in India
  • Number of heart attack deaths every minute- 4
  • Age group of deaths- 30-50 years
  • Bypass surgery can cost between- 1.9 lakh to 6 lakh

Chronic kidney failure

  • 17 in every hundred citizens suffer from some form of kidney disease in India (Lancet Research)
  • Percentage of Indians having some form of chronic kidney disease- 17%
  • Percentage of diabetics developing kidney disorders- 30%
  • Monthly cost of dialysis sessions - 24,000 to 25,000

Liver Disease

  • Over 10 lakh new patients are diagnosed with Liver Cirrhosis in India every year
  • Liver disease may affect every one in five Indians
  • Cost of Liver transplant can range between- 25 lakh to 35 lakh

STROKE

  • Approximately 1.8 million suffer from stroke every year
  • Over 6.5 lakh individuals die due to stroke (WHO data)
  • Incidences of first-ever stroke onset below 40 years of age- 15%-30%

LIST OF SEVERAL

CRITICAL ILLNESS INSURANCE MYTHS

THAT NEED TO BE BUSTED

MYTH #1:

I am too young to buy a critical illness insurance

FACT:

A critical illness does not knock on your door considering your age. Particularly in today’s times, where numerous youngsters are being diagnosed with critical illnesses due to several factors including lifestyle and unhealthy food habits, stress at work, etc.

A critical illness does not knock on your door considering your age. Particularly in today’s times, where numerous youngsters are being diagnosed with critical illnesses due to several factors including lifestyle and unhealthy food habits, stress at work, etc.

MYTH #2:

Critical illness insurance is same as mediclaim

FACT:

A basic Mediclaim only covers your hospitalisation expenses when you are admitted for more than 24 hours.

Whereas a critical illness insurance plan provides a lump sum amount when you are diagnosed with a critical illness like heart disease, cancer, etc.

For instance, if a policyholder has a critical illness plan worth Rs 10 lakh coverage, a lump sum amount of 2.5 lakh will be paid to him/her on the diagnosis of minor critical illness. Whereas on the diagnosis of major critical illness, an entire lump sum of Rs 10 lakhs will be paid, irrespective of hospital bills.

MYTH #3:

Critical illness insurance comes with higher insurance premium

FACT:

A critical illness does not knock on your door considering your age. Particularly in today’s times, where numerous youngsters are being diagnosed with critical illnesses due to several factors including lifestyle and unhealthy food habits, stress at work, etc.

A critical illness does not knock on your door considering your age. Particularly in today’s times, where numerous youngsters are being diagnosed with critical illnesses due to several factors including lifestyle and unhealthy food habits, stress at work, etc.

MYTH #4:

Once i buy critical illness insurance, i get coverage for any critical illness

FACT:

A critical illness plan covers only those illnesses that are stated in the print of the policy document. Therefore, be very careful while reading the policy document.

However, a good plan covers you for critical illnesses like cardiac arrest, cancer, angioplasty, stroke, kidney failure, paralysis, liver cirrhosis, organ transplant, brain surgery etc.

MYTH #5:

If my critical illness insurace covers cancer it covers all types of cancer

FACT:

Again, not necessary. You need to thoroughly go through the policy document to understand which cancers are covered by your plan.

Many minor and major cancer conditions are covered by a critical illness insurance plan, including liver cancer, breast cancer, colorectal cancer, kidney cancer etc.

However, there are certain exclusions to watch out for, like skin cancer, early stage prostate cancer, early-stage chronic lymphocytic leukemia etc.

MYTH #6:

If i have pre-existing medical conditions, i cannot buy critical illness insurance

FACT:

Some critical illness plans require a medical screening, while some don’t. If you have a pre-existing illness, you may need to pay a higher premium.

FINAL TAKEAWAY

Never hesitate in buying a critical illness insurance plan. Because, even though the premium could be on the higher side, the benefits are totally worth it.

References:

The International Congestive Heart Failure study ICMR Report
http://www.thehealthsite.com/diseases-conditions/heart-disease-in-india-6-shocking-facts-you-should-know/

Protection against 59# critical illness @ Rs.14/day* Get a Quote

# 59 Critical Illnesses are covered under Critical Illness Cover (Option 2) and Critical Illness Cover with Return of Premium (Option 4)
How helpful was this page?

/ 5 ( PAGE REVIEWS)

Future Generali why take a chance
X