FAQ on Critical Illness

Is the Critical Illness policy just another name for the Mediclaim policy ?

Although the Critical Illness policy covers illness, it is not a Mediclaim policy. It is complementary to a Mediclaim policy, being an additional policy which can taken along with Mediclaim.


What is the difference between Mediclaim & Critical illness policies?

A Mediclaim policy is a reimbursement of the medical expenses whereas Critical Illness insurance is a benefit policy.


What is a benefit policy ?

Under a benefit policy on happening of an event, the insurance company pays the policyholder a lump sum amount. Whether the client spends the amount received on the medical treatment or not rests on his or her own discretion.


Are all the illnesses are under the Critical Illness policy ?

The Critical Illness policy covers only five major illnesses

• Cancer
• Kidney failure
• Organ transplant
• Multiple sclerosis and
• Coronary artery surgery (20 percent of Sum Insured)

*Now some policies are also covering AIDS.


What is the amount of Insurance offered by a Critical Illness policy?

Under a Critical Illness policy, the amount of insurance has to be selected by the client.


When does the Critical Illness policy cover all the five illnesses ?

As long as the policyholder was not suffering from any of the illnesses, the pre-existing illness exclusion applies to the Critical Illness policy also.



What is the rate of premium calculated under the Critical Illness policy ?

Under Critical Illness insurance, the premium depends upon the age and the sex of the person.


For how long can a Critical Illness policy be issued ?

Under Critical Illness insurance, a policy can be issued only for one year and has to be renewed every year. And it is on the insurance company's discretion if they wish to renew the policy or not.