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A diagnosis of a serious illness can throw your world upside down, especially if you do not have a financial safety net. Critical illness insurance can help you better manage finances in such cases. 


From cancer to heart disease, these provide coverage for medical expenses upon diagnosis. This helps keep your savings intact, enabling you to focus on recovery, not finances.

Understanding Critical Illness Insurance

These plans cover medical costs of specific life-threatening diseases like heart attack or cancer. Apart from hospitalisation charges, it provides assistance for other costs. This includes fees for doctor visits, diagnostic tests, and more.

Choose the Health Insurance Coverage of Your Choice

The sum insured is crucial as it is the maximum financial assistance you will receive from the insurer. Since this amount also influences the premium you will have to pay, it is important to choose the right amount. 


If the sum insured is high, the premium will be high too. Subsequently, if your coverage amount is too low, you may fall short on funds. Here are a few factors you should consider while choosing the coverage for your critical illness insurance plan:

  • Age: If you are old, you should opt for high coverage as you may be more vulnerable to health issues

  • Healthcare costs: If the medical costs in your area are high, choose a higher sum insured

  • History: If there is a history of health conditions, you must assess its potential costs to determine the coverage amount

Features and Benefits of Critical Illness Plans

These plans offer better benefits as they provide coverage beyond the traditional health plans. The following are some of the features you can enjoy by opting for critical illness insurance:

Provides Financial Security

Medical expenses for a serious illness can be high, but these plans can provide much-needed financial assistance 

Protection Against Life-Threatening Diseases

These plans cover you for a wide range of illnesses, such as cancer, heart attack, kidney failure, and major organ transplants

Hassle-Free Claiming Process

Most critical illness insurance plans are straightforward, with a streamlined claim settlement process

Tax Benefits

As per Section 80D of the Income Tax Act of 1961, you can enjoy tax benefits on premium payments for health insurance. The following rules will apply:

  • You can claim a deduction of up to ₹25,000 if those insured are below 60 years of age

  • The limit for a tax deduction for senior citizens is ₹50,000 on an annual basis

How to Select an Ideal Critical Illness Insurance Policy

These plans act as a powerful shield against any financial strain due to a diagnosis of serious illness. Choosing the right insurer is important, especially with the availability of so many offers. The following are some of the factors to consider when selecting critical illness insurance.

  • Evaluate the Cost Covered

Check if your plan covers the costs of medical procedures and regular follow-ups after hospitalisation. This will help you avoid any surprises while filing a claim.

  • Understand Your Plan

Before getting this plan, understand the diseases and medical procedures it covers. Weigh all the different options to get a plan that suits your health needs at an affordable premium cost. 


You should also check the terms of the policy. Check and compare the waiting period, co-pay clause, claim process, and other aspects to choose the right policy.

  • Assess Plan Based on Your Age and Lifestyle

Older people should buy plans with wider coverage as they become more vulnerable to such diseases. If you do not have a healthy lifestyle, opting for a policy with wide coverage makes sense.

  • Look for Specific Offers

Some policies may also offer additional benefits, such as automatic restoration of the insured sum. Compare features of different offerings before zeroing in on a plan. You can easily do this on Bajaj Markets. 


Evaluate plans with premium starting at ₹160 per month and get it online with minimal documentation.

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Critical Illness Insurance Plan vs Health Insurance Plan

While both provide valuable protection, they differ in many respects. Check out the differences between critical illness plans and regular health insurance plans.


Critical Illness Insurance

Regular Health Insurance


Covers a limited number of life-threatening diseases or conditions

Provides basic coverage for a range of illnesses and accidents


You will receive a lump sum amount of the insured sum upon diagnosis of a critical illness

It extends coverage to multiple family members, cashless treatments, and additional coverage options


The cost will depend on the insurer’s policy, the number of diseases covered, and the sum assured

It depends on the insurer’s policy, the period of coverage, and the number of family members included

Waiting Period

Up to 90 days 

Up to 4 years

Survival Period

Up to 14 days


Explore Other Health Insurance Plans

Critical illness plans offer coverage for specific health conditions. If you want a broader scope of coverage, consider other regular health insurance plans. Here are other insurance plans from leading insurers on Bajaj Markets:

Insurance Provider

Claim Settlement Ratio

Plans and Starting Premium Amount

Aditya Birla Health Insurance


Group Activ Health - ₹575/month

Base Policy – ₹683/month 

Enhanced Policy – ₹732/month 

Super Top Up – ₹433/month 

Bajaj Allianz General Insurance


Family Health Care Gold -₹266/month

Extra Care Plus - ₹160/month

Health Guard Silver - ₹333/month

Health Guard Gold - ₹492/month

Health Guard Platinum – ₹546/month

Care Health Insurance


Care Health Insurance - ₹672/month



TATA AIG - ₹612/month

Disclaimer: The premium amount mentioned above is subject to change at the issuer’s discretion and as per your policy terms.

Some of the Best Critical Illness Insurance Plans in India

Choosing the right plan for you is crucial to safeguard your finances from the added stress of treatment of a serious illness. The following are some critical illness insurance plans that you can opt for:

Insurance Plan

Key Highlights

Care Heart Insurance

  • Provides coverage for treatment of heart diseases

  • Available on an individual or floater basis for up to 2 members

Care Freedom Insurance

  • It covers the cost of treatment of your pre-existing diseases, including serious illness

  • Reduces the waiting for the inclusion of pre-existing disease to 2 years

Aditya Birla Activ Secure Critical Illness Plan

  • It extends coverage for 64 critical illnesses

  • You can get 150% of the sum insured if diagnosed with more than one critical illness

Inclusions and Exclusions

Before getting critical illness insurance plans, carefully evaluate the scope of its coverage. It covers only a limited number of major serious ailments. These include:

  • Cancer

  • Coronary artery bypass surgery 

  • Cardiovascular diseases 

  • Kidney failure 

  • Major organ transplant

  • Annual check-ups for these diseases


The following are some of the expenses that these policies do not cover:

  • No compensation in case of the insured person’s death within 30 days of diagnosis

  • Any critical disease developed due to smoking, tobacco, alcohol, or drug intake

  • Any serious ailment due to an internal or external congenital disorder

  • Pregnancy or childbirth-related critical conditions

  • Critical injuries due to self-harm

Who Should Get Critical Illness Insurance

Not everyone needs this type of policy. Consider getting a critical illness insurance policy if you fall under any of the categories.

  • As people over 40 years are more vulnerable to such diseases, consider opting for this insurance plan

  • Since many serious ailments have hereditary causes, get this plan if you have a family history

  • You should opt for this insurance plan if you are the sole bread-earner of your family

How to File a Claim for a Critical Illness Insurance Policy

If diagnosed with a serious ailment, you can file a claim easily. Make sure you file the claim within the insurer’s timeline for a seamless process. Here are the general steps to follow: 

  1. Inform the insurer about the diagnosis 

  2. Fill out the necessary claim form

  3. Attach the relevant documents

  4. Recheck all the details and submit your claim request


Once the insurer verifies and approves your request, the claim amount will be transferred to your account or sent via cheque. Note that the process can vary depending on the insurer, and you can contact the customer team in case of queries.

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