What is critical illness cover?
Critical illness insurance plan, is a long-term insurance policy to cover specific serious illnesses. In case the policyholder suffers from a critical illness, it gives a tax-free ‘lump sum’ pay out to help him/her for home mortgage or rent, debts, or pay for advanced treatments abroad etc. but it’s your choice how you spend it. Unlike mediclaim where one has to submit hospitalisation bills, most critical illness insurance plans provide the lump sum amount on diagnosis itself.

Which is the best Critical illness plan?
Now that we know what is a critical illness plan. Let’s review the good ones in the market. Many renowned life insurance companies offer a critical illness plan like HDFC Life provides CancerCare, Aegon provides iCancer, ICICI prudential provides a critical illness rider with their term plan and Edelweiss Tokio life has CritiCare+. If you are looking for a plan which only covers cancer then you can opt for either iCancer or CancerCare both are good. If you wish to secure yourself against major critical illnesses like heart attack, CKD, lung, organ transplant including cancer than you can rather opt for Edelweiss Tokio life – CritiCare+ because it’s a stand alone plan which covers multiple disease at a reasonable cost. It also provides a multi claim option where the customer can claim thrice. So if the policy holder suffers from another major critical illness he/she can claim for it. They waive off future premiums after the first claim, understanding that the policy holder may not be in a condition to pay his/her premiums once he/she is diagnosed by a critical illness. Also, the company Edelweiss Tokio Life is a renowned and a trustworthy company which is a joint venture of Edelweiss and Tokio Life. ICICI prudential life provides a critical illness rider with their term plan but for this you have to buy a term plan and also there is no multi claim option so the policy terminates after you make the first claim. After researching and reading all brochures, my recommendation would be Edelweiss Tokio Life – CritiCare+.

A critical illness plan will help you bounceback from a critical illness and so I personally feel Edelweiss Tokio Life – CritiCare+ is the best critical illness plan in the market.

April 14, 2016
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The Best Critical illness plan is Edelweiss Tokio Life – CritiCare+

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