There is a stark difference when a health insurance policy is compared to critical illness insurance policy.
A health insurance plan would be able to compensate the hospitalization costs for any infirmity, disease or injury till the policy is surviving and is valid. A health insurance policy would prolong to be active also after multiple claims or a single claim is made. It will remain live and active till the time you use your whole insured amount.
Alternatively, a critical insurance policy would entail covering only a pre-definite/ pre- specified condition of illness only.
Insurance policy very clearly defines the conditions or illnesses which will be covered under the insurance policy. However, one needs to keep in mind that it’ll not cover any other condition or illness which is not specified in the policy.
The insurance company will pay immediately for the claimed individual, who is suffering from any kind of critical illness or injury, and after that the policy will no longer remain active. One cannot claim for more than the insured amount. However, now a day’s some insurance companies may cover with a revised or a new insurance premium rates.
The best and safest way is to opt for a critical illness cover and club it together with a life insurance policy by paying for an additional premium as additions.
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