Difference Between Health Insurance and Critical Illness Insurance?
23 August, 2023
22 Shares
1963 Reads
Share
As a customer, it can be difficult to navigate health insurance policies. Many options are available, and each type of insurance serves a different purpose. One of the most common types of medical insurance is critical illness insurance. It provides coverage in the case of severe health issues such as cancer, kidney failure or heart issues. Having health insurance might not be enough in such cases. It becomes crucial to have a critical illness health cover. However, it is important to know the different coverages provided by general health insurance and critical health insurance while buying one.
This blog will compare these two plans and help you find the difference between health and critical insurance.
Comparing Health Insurance and Critical Illness Insurance Policy
Insufficient coverage during a medical emergency should not deter your life goals. Let's learn about the subtle differences between different health insurance policies by comparing them briefly:
1. Type of Insurance Plans
The general nature of a health insurance policy and critical illness insurance differ along the lines of what type of plans they are. Health insurance is a kind of indemnity insurance while critical illness plans are fixed benefit plans. In an indemnity plan, you pay for the actual amount incurred up to a maximum sum insured. You can reuse the policy provided your annual cover is not depleted. With a fixed benefit plan, you get the entire sum assured when you file a claim for the insurance.
2. Coverage Offered
A traditional health insurance plans will typically offer a range features like the AYUSH treatments, ambulance charges, restoration of the sum insured, domiciliary hospitalization, and even cover treatment after an accident. After completion of the waiting period, a traditional health insurance plan will also offer maternity benefits and start covering defined pre-existing ailments in sync with policy terms.
Critical illness insurance offers coverage against a defined set of critical illnesses – Niva Bupa CritiCare covers 22 critical illnesses. The range of coverage offered depends upon the provider. Some of the critical illnesses covered include bone marrow/organ transplant, most cancers of particular severity, permanent paralysis of limbs, coma, heart ailments, muscular dystrophy, loss of hearing and/or speech, end-stage lung disease, major burns, multiple sclerosis, open heart placement surgery, and more.
3. Duration of Policy
The duration for which a health insurance plan and critical illness insurance policy last also varies. Normally, all health insurance plans need to be renewed year on year. Any variance to this procedure is revealed upfront by the seller.
4. Waiting Period for Application
In the case of a critical illness rider, the waiting period differs from insurer to insurer. Broadly speaking though, you are eligible to receive your Sum Insured from a critical illness policy after diagnosis of your illness.
5. Reimbursement/ Claim payment
With a traditional health insurance policy, expenses are typically covered in case your hospitalization exceeds 24 hours, and some plans also offer Day Care coverages which cover cost for procedures which don’t require hospitalisation like dialysis, radiotherapy and more. These expenses include medical bills and treatment costs which will be reimbursed by your policy after your treatment is completed. If you possess critical illness insurance, the sum insured will normally be paid to you as per the policy terms..
6. Premium Costs
Since traditional health insurance is much more comprehensive, the premiums paid under it are relatively higher compared to a critical illness policy. You are getting indemnity coverage for all kinds of medical illnesses including their hospitalization charges, surgery, diagnostic tests, and other medical expenses. If you are diagnosed with a critical health condition that is covered under the policy, you will receive the sum assured. When compared to traditional health insurance, it lowers premiums significantly. You can choose the best plan for your needs based on personal preferences.
7. Members Covered
In traditional health insurance, you get individual health insurance plans and family health plans. If you are an employer looking to cover all employees all at once, you can also opt for a group health policy. There are also senior citizen health policies that one can opt for if they are in a certain age group. In contrast to this, critical illness insurance can be purchased on an individual basis only. Senior citizens are normally not permitted to opt for such a plan.
Conclusion:
When properly researched, health insurance can be one of the wisest ways to financially secure your future. Read more on tips for buying health insurance here.
When adequately researched, health insurance can be one of the wisest ways to secure your future financially. Health and critical illness insurance are different types of medical insurance plans with different purposes. Health insurance is designed to cover a wide range of medical costs related to an illness. In contrast, critical illness insurance is designed to provide financial support in the event of a specific severe illness. Understanding the key differences between health insurance and critical illness insurance can help you decide which type of coverage best suits your needs. You can contact health insurance providers such as Niva Bupa, which enable you to find an affordable plan as per your requirements.
Secure your Health with comprehensive insurance plans from Niva Bupa
Popular Searches - Health Insurance | Medical Insurance | Best Health Insurance Plans | Health Insurance Plans | Health Insurance Policy | Best Health Insurance Plans | Best Family Health Insurance | Best Mediclaim Policy | Best Health Insurance In India | Best Medical Insurance In India | Best Health Insurance Plans In India | Best Health Insurance Policy In India | Mediclaim | Best Health Insurance For Senior Citizens In India | Best Health Insurance | Health Insurance With Opd Cover | Mediclaim Insurance | Medical Insurance Plans | Best Health Insurance Company in India | Critical Illness Insurance | Personal Accident Insurance | Mediclaim Policy | Individual Health Insurance | Pregnancy Insurance | Maternity Insurance | | Best Family Health Insurance plans in India | Best Health Insurance company | Family Health Insurance | Best Health Insurance plans for Senior Citizens | Mediclaim Policy for Family
Health Insurance Schemes - Chief Ministers Comprehensive Health Insurance Scheme | Employee State Insurance Scheme | Swasthya Sathi Scheme | Pradhan Mantri Matru Vandana Yojna | Government Health Insurance Scheme | Dr. YSR Aarogyasri Scheme | Pradhan Mantri Suraksha Bima Yojna | Health Insurance Deductible | West Bengal Health Scheme | Third Party Administrator | Rashtriya Swasthya Bima Yojana | In Patient Vs Out Patient Hospitalization | Mukhyamantri Chiranjeevi Yojna | Arogya Sanjeevani Health Insurance | Copay Health Insurance | Cashless Health Insurance Scheme | Mukhyamantri Amrutum Yojna
Travel Insurance Plans - Travel Insurance | International Travel Insurance | Student Travel Insurance | Travel Insurance USA | Travel Insurance Canada | Travel Insurance Thailand | Travel Insurance UK | Travel Insurance Germany | Travel Insurance Bali | Travel Insurance Vietnam | Travel Insurance Dubai | Travel Insurance Singapore | Schengen Travel Insurance
Top Hospitals - Best Hospitals in Chennai | Top Hospitals in Delhi | Best Hospitals in Gurgaon | Best Hospitals in India | Top 10 Hospitals in India | Best Hospitals in Hyderabad | Best Hospitals in Kolkata | Best cancer hospitals in Bangalore | Best cancer hospitals in Hyderabad | Best cancer hospitals in Mumbai | Best cancer hospitals in India | Top 10 cancer hospitals in India | Top 10 cancer hospital in Delhi | Multi Speciality Hospitals in Mumbai | Multi Speciality Hospitals in Chennai | Multi Speciality Hospitals in Hyderabad | Super Speciality Hospitals in Delhi | Best Liver Hospitals in Delhi | Best Liver Hospitals in India | Best Kidney Hospitals in India | Best Heart hospitals in Bangalore | Best Heart hospitals in India | Best Heart hospitals in Kolkata | Best Heart hospitals in Delhi
Others - Top Up Health Insurance Policy | Corporate Health Insurance | Health Card | Section 80d of Income Tax Act | Ayushman Bharat | Health Insurance Portability | GoActive Family Floater Plan | Health Companion Family Floater Plan | Health Premia Family Floater Plan | Health Pulse Family Floater Plan | Health Recharge Family Floater Plan | Heartbeat Family Floater Plan | Money Saver Family Floater Plan | Saral Suraksha Bima Family Floater Plan | Senior Citizen Family Floater Plan | Super Saver Family Floater Plan | Corona Kavach Family Floater Plan | Hospital Cash Insurance | Cashless Health Insurance | Health Companion Price revision | Heartbeat Price revision | ReAssure Price revision
COVID - Omicron | Coronavirus Health Insurance | Covid XE Variant | Norovirus
www.nivabupa.com
+91 11 41743397
1860-500-8888
14th Floor, Capital Cyberscape, Sector 59, Gurgaon
- Insurance is a subject matter of solicitation. Niva Bupa Health Insurance Company Limited (formerly known as Max Bupa Health Insurance Company Limited) (IRDAI Registration Number 145, Category:Health), 'Bupa' and 'HEARTBEAT' logo are registered trademarks of their respective owners and are being used by Niva Bupa Health Insurance Company Limited (formerly known as Max Bupa Health Insurance Company Limited) under license. CIN: U66000DL2008PLC182918
- 1 Niva Bupa processes pre-authorisation requests within 30 minutes for all active policies, subject to receiving all documents and information(s) up to Niva Bupa’s satisfaction. The above commitment does not include pre-authorisation settlement at the time of discharge or system outage.
- 2 Since Inception refers to claim data from 2010 till December 2023.
- 3 ReAssure 2.0 Premium: The premium is including taxes and for Bronze Variant, for a 25-year-old individual living in Delhi.
- 4 Aspire Premium: The premium is including taxes and for Gold+ Variant, for a 25-year-old individual living in Delhi.
- 5 Senior First Premium: The premium is including taxes and for Gold Variant, for a 65-year-old individual living in Delhi.
- 6 Health Premia Premium: The premium is including taxes and for Silver Variant, for a 25-year-old individual living in Delhi.
- 7 SmartHealth + Disease Management Premium: The premium is including taxes and for Disease Management Gold Variant rider when bought with ReAssure 2.0 Bronze variant with Base Sum Insured of 5 lacs, for a 25-year-old individual living in Delhi.
- Beware of spurious / fraud phone calls! Do not share your confidential information like Debit / credit card number, Internet Banking User ID/Password, Pin, CVV, OTP, etc. with anyone. Avoid clicking on attachments / payment link received in mails / message from unknown sources. IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment or premium. Public receiving such phone calls are requested to lodge a police complaint. Do not respond to unsolicited and attractive offers received through unidentified calls, emails, SMSs, and other social media platforms. Beware of misleading telephone calls from people posing as Niva Bupa officials, agents, IRDAI Officials, Officials from ECI (Office of the Executive Council of Insurers) etc. and offering alluring benefits or sharing false information on your policy or on Niva Bupa. Niva Bupa shall not be responsible for any loss or damages whatsoever for any acts or omissions arising out of such spurious calls, and all customers are advised to contact our customer care at 1860-500-8888 and verify any representations or promises made by any such spurious callers before acting upon the same.