Should you avail a critical illness plan or disease specific health plan?

By | 02/11/2016
Health insurance offers a wide range of products which cater to different categories of customers. Insurers have recently come up with a new type of health plan, the disease specific health plan.
What is a disease specific health plan?
You get covered for the cost of treatment of only a specific disease. However you get cover at all stages of this particular disease, right from the diagnosis stage to the advanced treatment stage.
What is a critical illness plan?
You get a lump sum amount, in case of a diagnosis of a particular critical illness. This critical illness needs to be covered under the plan. Many critical illness plans cover you for between 10 to 30 critical illnesses. You are covered for loss of income due to a critical illness. Regardless of your hospitalization expenses, the Insurer pays you the entire sum assured. Critical illness plans have a clause that you need to survive for 30 days after you are diagnosed with a critical illness.
If you have a family history of suffering from a particular disease, it is better to avail a disease specific plan. Otherwise you better opt for a critical illness plan as it covers a wide variety of critical illness.
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