What is critical Illness cover?

General market related questions for Actuarial students!
Post Reply
User avatar
Mayank
Site Admin
Posts: 232
Joined: 06 Oct 2017, 11:19
Status: Offline

29 Sep 2018, 10:47

Critical Illness cover comes as a rider or as a stand alone plan. It provides the insured a lump sum, in case he/she gets diagnosed with a critical illness such as cancer, sclerosis, coma, heart attack, paralysis, kidney failure, etc.
Mayank Goyal

User avatar
arpit
Jr. Member
Posts: 25
Joined: 08 Nov 2017, 11:25
Status: Offline

29 Sep 2018, 17:24

I have heard that, a person should have a separate critical illness cover also other than general health insurance policy
Why?
You can have an add-on cover of it under your health insurance policies?
So why take a separate policy
User avatar
Mayank
Site Admin
Posts: 232
Joined: 06 Oct 2017, 11:19
Status: Offline

29 Sep 2018, 18:05

arpit wrote:I have heard that, a person should have a separate critical illness cover also other than general health insurance policy
Why?
You can have an add-on cover of it under your health insurance policies?
So why take a separate policy
Rider is addon. In general health policy, you can have CI as rider so no need to take seperate policy for CI. If your general health policy doesn't include CI, you got to take that as seperate policy.

Sent from my LLD-AL10 using Actuarial Info mobile app

Mayank Goyal

Post Reply
Actuarial Blogs Insurology

icon icon