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In the contemporary world, buying health insurance has become essential, but here’s what many don’t realise: a standard policy doesn’t protect you from every serious disease. When life-threatening illnesses strike, regular coverage often isn’t enough, and people end up draining their entire savings for treatment. After GST reforms, more people are opting for insurance, yet a lack of awareness continues to cause financial distress. Many assume they’re secure after purchasing a policy, but most basic plans exclude critical illnesses like cancer, heart attack, stroke, kidney failure, or paralysis. That’s where critical illness cover becomes crucial. What Is A Critical Illness Rider? A critical illness rider (or add-on plan) can be attached to your existing policy for an extra premium. Unlike standard policies that only reimburse hospital bills, this cover provides a lump sum payout once the diagnosis is confirmed, allowing you to manage ongoing medical expenses, household needs, and even income loss due to job breaks during recovery. Important Tips Several families have lost their life savings because their policy lacked this add-on. To avoid such situations, here’s what you should do: Check if your current policy includes a critical illness rider; if not, add one. Ensure the plan covers at least 10-15 major diseases. Opt for a family floater plan to cover all members. Review waiting periods (usually 90 days for new cover and up to 36 months for pre-existing conditions). Don’t forget: You can claim tax benefits under Section 80D. If you’re over 40 or in a high-risk profession, getting this cover isn’t optional, it’s a necessity. Remember, health insurance isn’t just about paying hospital bills; it’s about safeguarding your family’s future and peace of mind.
