Is Critical Illness lumpsum Cover mandatory on top of Health Insurance cover???
12 Aug, 2022 by Mrudhul
This is a general question:
Many insurance companies are offering critical illness cover as a addon or separate policy which basically provides lumpsum payment on diagnosis.
But the documentation is a bit poor on whether this is a must (in the sense, this is being offered because regular insurance doesn't cover any critical illness treatment by default???)
If I have a 1 crore plan, should I still worry about taking critical illness cover separately?
For example if I take HDFC Ergo Optima Restore or Manipa Cigna Lifetime Health plans.
No a critical illness cover isn't necessary if you've a comprehensive health insurance as it'll tc of both your critical and non critical ailments.
All a CI cover does is to offer you a single time payout on diagnosis while subsequent hospitalizations related to that critical illness remains to be your own responsibility.
So your like of thinking is pretty right.