The critical care health insurance policy covers the insured against any life-threatening diseases like cancer, heart attack, renal failure, etc. This health insurance policy covers lump sum amounts, which can cover exorbitant medical expenses for critical illness. Critical care is covered under the insurance policy, and the vital feature of critical care health insurance is coverage for up to 36 major illnesses. The claiming process is hassle-free and accessible based on the diagnosis reports. Generally, the company provides the policy coverage after the end of the waiting period. A part of the lump sum can be used as income replacement. There are also some tax benefits, and the policyholder can avail themselves of the tax benefits under the income tax Act 1961. In addition, you (as an individual or HUF) can claim a deduction of Rs. 25,000 under section 80D on insurance for self, spouse, and dependent children. An additional deduction for parents' insurance is available for up to Rs 25,000 if they are less than 60 years of age. Critical care health Insurance is necessary for many of the mediocre to meet their treatment cost, which is sky-high at this age.
