If you’re looking for cancer cover, another good option is a critical illness insurance plan. It offers broader coverage compared to a cancer insurance plan with lump sum payout, in that it covers other serious illness & medical conditions in addtion to cancer. However more coverage can come at a higher cost, but sometimes not so significantly.
Check out of in-house reviews of some of the popular options below.
What Are Critical Illness Insurance Plans?
Critical illness insurance plans are health insurance policies that are designed to cover serious illnesses & medical conditions; including cancer. Critical illness insurance plans can sometimbes similar to cancer insurance plans with lump sum payment, in that it offers:
- Lump sum payment that can be used for medical and non-medical expenses.
- Flexibility in using the payout.
However, there are a good number of variety in terms of plan options. Some critical illness insurance plans may cover medical expenses as well as offer a lumpsum sum payout and the range of medical conditions covered can range from 3 to 50 medical conditions (or more).
It’s very important to study these plans in detail to ensure you know what you are really covered for. Not only are the benefits often different amongst the different plans offered (even by the same insurers), the fine prints of the terms and conditions can often have subtle but important differences.
Possible Covered Conditions
- Cancer
- Heart attack, or stroke
- Kidney failure
- Alzheimer’s Disease
- Brain Tumor
- Blindness
- Chronic Liver Disease / End-stage Liver disease / Liver failure
- Chronic Kidney Failure
- Loss of Hearing
- Major Organs Transplantation or Bone Marrow Transplantation
- Motor Neuron Disease
- Multiple Sclerosis
- Muscular Dystrophy
- Viral Hepatitis
- Coronary Artery Diseases
- Paralysis
- Parkinson’s Disease
- Major Head Traum
- Major Burn
- and more…
Who Are These Plans Recommended For?
- Anyone seeking financial protection against the high costs of treating serious/severe illnesses.
- Those without comprehensive health insurance policies may consider critial illness insurance plans; if budget is an issue.
- Those who find their current health coverage to be insufficient for severe illnesses and would like to add coverage for themselves.
Conclusion
For those seeking comprehensive coverage, critical illness insurance plans are an excellent option. They provide broader protection than cancer-specific insurance by covering a range of serious medical conditions, though this can come at a slightly higher cost.
