Critical Illness vs Disease-specific Plans
Here’s a table that will highlight the key difference between these two important health insurance covers.
|Parameters||Critical Illness Plan||Disease-specific Plan|
|Meaning||You are covered by a critical illness plan for a number of conditions that pose a serious risk to your life.||You are covered by a critical illness plan for a number of conditions that pose a serious risk to your life. You are protected by a disease-specific plan from a single ailment or disease. Due to its focus on a particular illness, this plan is also referred to as a niche plan.|
|Survival period||The survival period included in a critical illness plan might last anywhere from 0 to 30 days. This means that in order to make a claim under the policy, you must live for the specified number of days following the diagnosis of the covered sickness.||In the majority of situations, a disease-specific plan has no survival time.|
|Coverage||20 life-threatening illnesses are typically covered by this plan. A predetermined lump-sum payment will be given to you as a claim settlement if you are found to have one of the covered diseases and meet all other policy requirements.||This plan takes a targeted approach because it is created to provide specialised insurance coverage in the event of a specific condition. Based on the conditions of the insurance, you may either get a predetermined lump sum payment or be reimbursed for your medical costs associated with treating the sickness (paid). Future premium payments may also be exempted in specific circumstances.|
|Waiting period||The typical waiting period for this plan is 90 days. This indicates that you must wait 90 days after purchasing the plan before filing a claim.||Often, there is no waiting period before you can file a claim against this plan.|
|Premium||This plan’s premium is comparably more expensive than a disease-specific plan because it provides protection against a broad spectrum of ailments. *||This plan’s premium is comparatively less expensive than a critical illness plan because it just provides coverage against one particular sickness. *|
|Common diseases that are covered||A critical illness plan frequently covers the following illnesses: The top five diseases include cancer, stroke, benign brain tumour, coronary artery bypass, and paralysis. This insurance can also include additional ailments.||Generally, a disease-specific plan will cover one of the following conditions: Diabetes, kidney disease, dengue, hypertension, and cardiac disease are the top five medical conditions. The programme is not just for the illnesses listed above.|
|Who should buy it?||If you wish to expand the benefits of your health insurance, you should purchase this cover. The cost of treating a critical illness might be high. To manage your money in these trying times, a special plan that covers a wide range of life-threatening illnesses in addition to your health insurance coverage can be beneficial.||If you have a family history of a specific illness, such as diabetes, you should purchase this coverage. Also, such health insurance plans for families can be bought as a financial precaution against the occurrence of a certain disease in and around your city or neighbourhood, like dengue.|
What cover should I buy?
There isn’t a predetermined response to this query. You must be aware of your needs for health insurance and purchase a type of health insurance plan that satisfies them. These combinations (combos) will aid you in making your purchase selection.
Individual Health Insurance Plan with a Disease-Specific Plan (amount covered greater than Rs. 10 lakhs).
Individual health insurance (assured up to a maximum of Rs. 5 lakhs), including critical illness insurance and disease-specific insurance.
* Standard T&C Apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
Subscribe to Bajaj Allianz General Insurance YouTube Channel here!