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Ricky Said:

Where I will get critical illness insurance in India?

We Answered:

A Critical Illness insurance means you can insure yourself and your family also against the risk of serious illness. There are many insurance companies providing health insurance but only few are good in critical illness insurance.

HDFC ERGO provides critical insurance policy which covers all serious ill and big sum amount treatments like heart attack, cancer, stroke, paralysis and many more. It is also includes tax benefits.

I am sharing my personal experience with you, this policy really worth.

you can visit their website also. http://www.hdfcergo.com/CriticalIllness.…

Albert Said:

is there such a thing as critical illness insurance stand-alone version?

We Answered:

Yes, there is. A number of companies now sell this product including, among others, Scottish Widows. If you're in the UK you could look at the FSA website and they give you a steer on price comparison.

Eric Said:

Why do people buy critical illness insurance?

We Answered:

People buy Critical Illness insurance for a number of reasons but primarily if they have debt or for peace of mind for themselves and their family.

Critical Illness insurance pays out a lump sum which is tax free on the diagnosis of certain conditions - you can get basic cover which will have a limited number of conditions or comprehensive which will cover a much wider range.

Critical illnesses may end up being terminal but very often people will recover from things such as a heart attack but they may not be able to work so hard thereafter so a lump sum to cover debt and relieve them of the financial burden may be important.

Even if you do not have debt the provision of a lump sum to aide a loss of earnings or to cover the costs of converting a house - say if you were permanently disabled, may be another reason for taking out the cover.

Often people will have live cover incorporating critical illness - these types of plans only pay out once i.e. on diagnosis of a critical illness or on death - whichever comes sooner!

Deborah Said:

What is your opinion on getting critical illness insurance?

We Answered:

I've handled these policies before and while there are certain criteria you must meet in order to qualify for this benefit, one of them is the benefit will be paid only on the primary condition ( must be a life threatening condition) where a diagnosis is made or surgery is performed. The coverage then terminates. There is a specific survival period usually 30 days unless otherwise indicated )
Basically critical Illness insurance provides a one-time, lump-sum payment when the insured is diagnosed with one of the critical illnesses covered under the plan.
No coverage is provided if any symptom or medical problem which began within 90 days following the first premium due date. If that happens your coverage terminates and you will receive a refund of the premiums paid. There is so many criteria to consider that it's best to speak with an insurance broker or financial advisor.

Christina Said:

Do you think that critical illness insurance is a good investment?

We Answered:

It isn't a bad deal. Suppose you do die from cancer?

But you might do better to buy life ins, that pays for just aboutanything you might die from.

When I worked in Insurance, we called these "submarine accident in Kansas policies."
The chances of being in a submarine accident in Kansas is soooo remote...
With limited policies like this, you must ask "is it a good deal, " and , if so, for who?

I am not saying, "Don't buy it." but you can be insurance-poor.