As the cost of treatment of life-threatening or critical ailment is more than regular case of hospitalization, one must also be prepared for such an uncalled for event in advance. And such need is met by opting for critical illness plan that differ in their claim payment. While in case of regular mediclaim or health insurance plans, the hospitalization expenses are paid by the insurer. In critical illness policy, on the diagnosis of an ailment, at the time of claim entire sum insured amount is paid to the insured by the health insurance company.

Iffco Tokio's policy is unique in the sense that in a single plan all of the family members can be covered including spouse, children, parents and parents-in-law. And it typically offers sum insured in the range of Rs. 1 lakh to Rs. 1 crore.

Features and other important specifications of the critical illness plan

Policy can be bought for either 1, 2 or 3 years and in case family members are included a discount is offered on the plan.

For sum insured value of Rs. 1lakh, premium starts from Rs. 257. This is for a person aged less than 25 years. For still higher sum insured value of Rs. 10 lakh and Rs. 1 crore, the similarly aged person will have to shell out Rs. 2566 and Rs. 25657 as annual premium charges.

In the event of diagnosis of some major ailment, the insurer will provide a lump sum amount.

Further it also covers also health conditions such as such as blindness, deafness, loss of speech and loss of limbs.

During the policy period, in all the plan provides sum insured value against some 25 25 listed critical illnesses, medical events or surgical procedures.

Though the affordability factor comes into play, you should make it a point to rev up your health insurance portfolio with critical insurance plan for yourself and family members around the age of 40 years.

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