About Critical Illness Plus Rider

Unhealthy lifestyles, lack of exercise, coupled with genetics and other specific conditions such as low immunity is spiking critical illness cases in India. It is often recommended that you buy a standalone critical illness insurance policy and not as part of a life insurance policy. This is because a life insurance policy with a critical illness cover may not pay for every expense. There are other advantages of a critical illness insurance policy. One principal advantage is protection from major financial liabilities. Another is access to the best medical treatment at lower cost than if it were out of pocket. There are tax benefits, both when you buy a policy as well as when you make a claim, as any claim amounts are tax-free for the policy holder.

Many young people are under the misconception that they do not need critical illness insurance since they are young. There are two bitter truths to swallow here. One is that an increasing number of younger people are getting susceptible to one major illness or the other. The other is inflation in health treatment costs. Anything that protects you or helps you cope with an unfortunate situation is good. You never know when a disaster of any kind can strike. Think of a critical illness insurance policy as a good luck talisman against a health disaster. Since it’s more of a question of ‘if it happens’ rather than ‘when it happens’, you are at least better prepared for any consequences if you or any family members contract a critical illness.