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Term life Insurance

The importance of Critical Illness Cover in Term Insurance Plan

A wise man once said – “Life is unexpected. Live Everyday Wisely and Happily.”

The importance of Critical Illness Cover in Term Insurance Plan

Life is unpredictable, and one of the most disappointing occurrences is when you suffer from a critical illness. It is a disheartening and quite stressful situation not only for the patient but also for the family members. Critical illness can happen at any point in your life, and there is no guarantee whether the disease can be treated 100 percent or not. The duration of the treatment can also be very long, depending on the severity of the medical condition. All of this can be equally taxing on the financial aspects.

Above all, if you are the only breadwinner in the family, then the critical illness can be a huge financial burden on your dependents. Sometimes, even health insurance doesn’t suffice. Therefore, to safeguard yourself and your family from facing such stressful times, opting for the critical illness rider in your term plan policy is a wise decision.

What is Critical Illness Cover?

A critical illness cover offers extra financial help during a medical emergency. The primary objective to include a critical illness rider in a term plan is to get financial protection for the expensive treatments.

Having a critical illness cover in your term insurance policy works best for ailments like diabetes, paralysis, artery, bypass surgery, major organ transplants, amongst others. Different policy providers may have different terms and conditions. But, you should thoroughly go through the policy terms and conditions and select the best one as per your needs and requirements.

How the Critical Illness Cover Works

Once the illness gets diagnosed that is specified in the policy agreement, the policyholder receives the assured amount, under the insurance cover. The lump-sum amount that the policyholder get is over and above any other health insurance or mediclaim policy that you might have already purchased. And depending upon the terms and conditions of your policy provider, the medical treatment starts.

Since many companies are offering some of the best term insurance plans, finding the right policy is a bit tricky. Several companies come up with well-thought critical illness covers as well, which may include lifestyle diseases. In addition to this, some insurance providers allow policyholders to take advantage of the hospitalisation and non-hospitalisation charges as well.

Factors that underline the importance of including Critical Illness Cover in Term Insurance Policy

Premium Remains Constant: Many people think that adding a rider like critical illness leads to different premiums every year or month. But this is not true. Once you have added a critical illness rider or any other rider in your policy while buying it, the premium remains constant till the end of the tenure. This is one of the significant features in a term life insurance wherein you have to add a rider once and remain stress-free throughout the policy.

No Extra Medical Check-up: If you think that the process for adding critical illness cover to your term insurance is going to be complicated, then you are wrong. Your medical check-up and reports that are done at the time of purchasing the term insurance plan are enough for adding a critical illness cover.

Say Goodbye to Deductions: Another benefit of the critical illness cover is that, once the medical condition is diagnosed, the entire benefit amount is paid without any capping, sub-limits, and deductions. With the first diagnosis of the medical condition (as mentioned in the policy agreement) occurs, you get the entire coverage amount.

Treatment Can Be Sustained: Critical illness is not something that you are supposed to make peace with. It should be treated with proper treatment and care. However, many a time due to excessive medical expenses, patients stop their treatment as they run short of money. This is when a critical illness cover helps you out. Since the entire amount is paid at one go, you don’t have to worry about running to the insurance provider again and again.

Your Savings Stay Intact: It takes a lot of patience and hard work to save a part of your hard earnings. And a critical illness cover helps you to keep your savings intact. Many people dig deep into their savings while paying the hospital bills, which they might have saved for their children’s college fees or a secured future. With the inclusion of critical illness cover in your term insurance plans, you don’t have to worry about dipping into your savings.

Lastly, quite often, people get confused between health insurance and critical illness covers and tend to consider them as the same thing. However, both are totally different from each other. There are a lot of companies that offer some of the best term life insurance policies at affordable rates along with the inclusion of a variety of riders like critical illness. All said and done, the best way to buy term life insurance is to compare the best term plans in India that are available online, and then select the one that matches all your requirements. is one such online platform that offers a variety of term plans with options to add riders like critical illness. So, visit, go through the term plans available and choose the right one for yourself.

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