When life takes an unexpected turn, a critical illness diagnosis can disrupt your plans, finances, and peace of mind. Critical illness insurance steps in to ease this burden, providing a lump sum payout to support treatment and recovery. Whether you’re safeguarding your savings or combining it with life insurance, understanding its benefits can help you build a resilient financial future. Ready to explore how it works? Check your coverage options now.
Key features of critical illness insurance
Critical illnesses not only affect your health but can also impact your income and savings. A robust critical illness plan ensures you have the financial cushion to focus on recovery, not bills.
Key features include:
Lump sum payout: Receive a one-time payment when diagnosed with a covered illness.
Comprehensive coverage: Covers major illnesses like cancer, heart attack, stroke, and kidney failure.
Flexible use of funds: Use the funds for medical or non-medical expenses.
Standalone or add-on: Available as an independent policy or as a rider with life insurance.
Survival period requirement: Claim is processed after a specific survival period post-diagnosis.
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Key benefits of critical illness insurance
Your recovery journey should never be overshadowed by financial stress. That’s where critical illness insurance proves invaluable.
Key benefits include:
Financial security: Covers expensive treatments for major illnesses.
Income replacement: Protect your family’s day-to-day expenses if you can’t work.
Customisable coverage: Choose coverage and sum assured that suits your needs.
Tax benefits: Premiums qualify for tax deductions under Section 80D of the Income Tax Act.
Peace of mind: Focus on getting better, knowing finances are managed.
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