Critical insurance, also called critical illness insurance, is a policy that pays a lump sum amount if you are diagnosed with a serious illness listed in the plan. Unlike regular health insurance that covers hospital bills, critical insurance provides a fixed payout upon diagnosis, regardless of actual medical expenses.
The money can be used for treatment costs, recovery expenses, loan EMIs, household bills, or income replacement during time off work. Commonly covered illnesses include cancer (specified stages), heart attack, stroke, kidney failure, major organ transplant, and paralysis, as defined in the policy.
Most plans have a waiting period and specific claim conditions. Critical insurance is important because major illnesses can disrupt income and drain savings. It works as an added financial safety net alongside your regular health insurance.
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