What is critical Illness cover?

Actuary Forums Forums Learnings Daily Dose What is critical Illness cover?

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  • #23034
    Mayank Goyal
    Keymaster

      Critical Illness cover comes as a rider or as a stand alone plan. It provides the insured a lump sum, in case he/she gets diagnosed with a critical illness such as cancer, sclerosis, coma, heart attack, paralysis, kidney failure, etc.

      #24064
      Arpit Surana
      Participant

        I have heard that, a person should have a separate critical illness cover also other than general health insurance policy

        Why?

        You can have an add-on cover of it under your health insurance policies?

        So why take a separate policy

        #24065
        Mayank Goyal
        Keymaster

          arpit wrote:

          I have heard that, a person should have a separate critical illness cover also other than general health insurance policy

          Why?

          You can have an add-on cover of it under your health insurance policies?

          So why take a separate policy

          Rider is addon. In general health policy, you can have CI as rider so no need to take seperate policy for CI. If your general health policy doesn’t include CI, you got to take that as seperate policy.

          Sent from my LLD-AL10 using Actuarial Info mobile app

          #24066
          umanggarg
          Participant

            Ride/ stand alone means?

            Sent from my Redmi 4 using Actuarial Info mobile app

            #24067
            Arpit Surana
            Participant

              UmangGarg wrote:

              Ride/ stand alone means?

              Sent from my Redmi 4 using Actuarial Info mobile app

              Rider means an extra benefit for extra price.

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            Actuary Forums Forums Learnings Daily Dose What is critical Illness cover?