Health Insurance VS Critical Illness Insurance

Health Insurance VS Critical Illness Insurance

There are fundamental differences between standard health insurance and critical illness cover. Critical illness plans cover only a pre-defined list of critical illnesses and only diagnosis is required to get a lump sum payout. While health plans are devised as an expense reimbursement plan, but critical illness plans are closer to the life policies. The most significant difference between both the plans is that while medicare insurance provide reimbursement for hospital expenses, the payout from a critical illness plan is independent of the amount of expense incurred on hospitalisation. One should have both health and critical illness covers for a 360-degree coverage.


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Let us have a look at the differences and shared attributes of a health and critical illness policy:

What is the Prime Difference?

Under critical illness insurance cover, you will be paid lump sum amount for the insured health risk. If you are diagnosed with any life-threatening health disorder like cancer, heart ailment, liver problem, you are entitled to this lump sum payment subject to the terms and conditions included in the critical illness policy.

Insurance players often offer both standard medicare insurance plans as well as critical illness insurance policies. Additionally, a critical illness cover can be included in the regular health policy as a rider, which might be cheaper than purchasing separate health and critical illness policies.


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How a Critical Illness Plan Benefits People?

What if You Do Not Have a Critical Illness Cover?

• Treatment for critical illnesses like heart ailment and cancer can be very high.
• You stand to lose your job and income in such scenario.
• Treatment of a critical illness may badly strain your savings and goals of your dependents.
• Recovering after surviving such an illness may take a long time.
• Financial health may be jeopardized for the family.

Why Do You Need a Separate Critical Illness Cover?

The treatment cost for life-threatening diseases can be exorbitantly high. For instance, a medicare insurance plan from Apollo Munich offers you reimbursement for the normal hospitalization and surgery expenses. Insurers also offers critical insurance plans to help you recover from critical illnesses, for which, you need far stronger financial support. You can easily opt for a critical illness policy as per your requirements from an insurance provider of your choice. Therefore, both plans are a supplement to each other in covering you from all health risks.

by R G

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