Difference Between Health Insurance and Critical Illness

Health insurance is a standalone policy that offers coverage for the expenses that you incur towards the treatment of diseases and medical conditions. On the other hand, critical illness insurance is an add-on cover that you can opt for over and above a standalone health insurance plan by paying a nominal additional premium. 

 

While health insurance is designed to only cover healthcare expenses, a critical illness cover is designed to offer a lump sum payment upon diagnosis of any of the critical illnesses covered. Also, with a health insurance plan, you can make multiple claims till you exhaust your sum insured amount. However, with a critical illness cover, you’re allowed to make only one claim, after which the cover ceases.

What Is a Critical Illness Cover?

In the context of insurance, the term ‘cover’ is used to refer to an additional feature you can add to your existing insurance plan in order to enhance your coverage. If the event or unfortunate circumstance specified by an insurance cover does take place, your insurance coverage can be extended to help you meet expenses. In the case of Critical Illness cover, your insurance coverage can be enhanced to help you financially cope with the expenses relating to a wide range of debilitating diseases, known as Critical Illnesses.

Differences Between Health Insurance and Critical Illness

Now, that we have a better understanding of the concepts of health insurance and critical illness cover, let us review a point-by-point comparison between the two. To help put the health insurance vs critical illness in perspective, here are the differences between them:

Conclusion

In these aforementioned ways, health insurance and critical illness cover are considerably different from each other. However, one thing that is essential to remember amidst the health insurance vs critical illness discussion is that both serve their own purpose when it comes to helping the insured deal with the rising costs of healthcare. While critical illness cover offers assistance for specific diseases, health insurance offers a more extensive coverage for a variety of conditions.

 

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Health Insurance Plans Available at Bajaj Markets