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Health Insurance Primers
Wednesday 05 December 2007
What is the difference between a Critical Illness Rider and a Critical Illness Plan?
Wednesday 05 December 2007
| A
critical illness rider can be purchased as an additional benefit on your health
insurance policy. You can make a claim even if you are hospitalized due to an
accident or an injury or a disease i.e. for hospitalization and other expenses
arising from causes other than a critical illness. Furthermore,
in plans that provide the rider along with the health insurance plan, the sum
assured is automatically doubled. For example, suppose a person purchases a
health plan with a critical illness benefit for Rs. 2 lakh and subsequently suffers
a heart attack. Let's assume his expenses come up to Rs. 3.5 lakh. Because his health
plan includes the critical illness benefit, he then can claim cost/expenses
(including post-hospitalization costs) up to Rs. 4 lakh (2 lakh health plan
plus 2 lakh critical illness benefit). Whereas, if he just had the health
insurance plan without the critical illness rider, he would have had to be
satisfied with a claim up to just the sum assured i.e. Rs. 2 lakh. On
the other hand, if you have just a critical illness plan, you can make a claim
for the pre-defined critical illnesses only and not any other injury or
disease. In
case of a critical illness plan, typically, the insured receives the sum
insured on either immediately or within a few days of diagnosis, irrespective
of the actual expenses. See
also: What are the different aspects that I should consider when buying a health insurance policy? What is the difference between a Health Insurance policy and a Critical Illness policy? Illnesses covered by Critical Illness plans When does the Critical Illness plan not cover the illnesses? Miscellaneous Health Insurance FAQs Health Insurance FAQs about Coverage Health Insurance FAQs about Claims Health Insurance FAQs about Premiums |
