I have read some articles about choosing a critical illness cover but still need your suggestion before finalizing one. As per my understanding following points need to be included while choosing a critical illness cover:
1. Number of diseases covered (I have read details about ICICI critical care cover but does not get much help as I am not clear with some terminology used)
2. Policy term (I am aware that once full payment is made then this cover cease to exist)
3. Sum assured ( As of now there are options upto 1 Cr. I could not find any plan which offers to increase this cover in future)
4. Premium amount
Is there a site where I can get premium rates for critical illness cover?
I am of opinion that one should take CI as stand alone policy instead of rider from Life insurance companies or health insurance companies. However what is your suggestion to take this stand alone plan from Life insurance companies or health insurance companies.
Binod-Thre are sites which offer such comparative rates. But sadly such comparison not exhaustive in nature and not provide a clear picture all benefits. At the same time, such portals represent any particular company and they may push you to buy the particular product.
- Yes, many avoid critical illness because of complexity and the doubt of claim settlement. I strongly recommend you to buy only if there are any such family history of diseases explained in the proposal. It is the complicated product which you or me unable to understand (especially terminologies).
- Nothing to share from me as you already know about this.
- As of now there are no such plans in India.
- You have to calculate on your own based on your requirement by visiting individual company portal.
I agree with your view of separating your critical illness from Life and Health Insurance.
I can help a little, being a doc. Policies containing maximum types of critical diseases including cancer are preferable choice. I have personally taken Apollo Munich as it contains maximum coverage amongst all albeit the premium is a bit on the higher side.