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Critical Illness Insurance: Buy Best Critical Illness Cover Policy

By Kapil Dwivedi

Buy a term plan and secure your family

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Modern-day lifestyle, food habits, and stress are some of the major contributing factors to the increasing number of lifestyle disorders in today’s era. We are extremely susceptible to falling prey to these ailments. According to the statistics issued by WHO and various other domestic and international organizations, one out of every fourth individual is at a high risk of dying from a non-transmittable ailment such as cardiovascular illness or cancer before reaching the age of 70. 

Now the question arises that how can we safeguard ourselves and our loved ones against these illnesses. The answer to this question is rather simple, none of us are aware of what the future holds for us therefore it is our duty to be prepared for combatting worst-case scenarios. In case of an illness, one would need immediate medical assistance without worrying about the financial element associated with seeking the treatment. This is where critical illness coverage comes into the picture.

     In the Article

Critical Illness Insurance

Critical illness insurance policy provides financial coverage against critical, chronic, and long-term illnesses that require expensive amounts of money for treatment. Typically, critical illness coverage is provided as an auxiliary rider that comes in hand with comprehensive health insurance policies.  

Best Critical illness insurance policies are designed and developed to provide a lump sum in case the policyholder or any of the insured family member is diagnosed with a critical illness. With the right critical illness insurance policy, you can ensure that you and loved ones are safe against critical illnesses on the trail of life. In order to get a better understanding of what is critical illness insurance and how it works in real, it is vital to first understand the critical illness and its types. 

Critical Illness

Critical illness may be defined as an ailment/sickness/disease/corrective measure such as tumours, cancer, organ failure, heart attack, etc. that require immediate and intensive medical assistance. The health care system in the UAE is quite efficient, but at the same time is very expensive. Therefore, to make sure that you and your family members are safe against critical illness it is vital to get best critical illness coverage. 

The list of 37 major critical illness that is usually covered by Best Critical Insurance Companies under health insurance plans are as follows-

  1. Major Cancers
  2. Heart Attack of Specified Severity
  3. Stroke
  4. Coronary Artery By-pass Surgery
  5. Kidney Failure
  6. Aplastic Anaemia
  7. End-Stage Lung Disease
  8. End-Stage Liver Failure
  9. Coma
  10. Deafness (Loss of Hearing)
  11. Heart Valve Surgery
  12. Loss of Speech
  13. Major Burns
  14. Major Organ / Bone Marrow Transplantation
  15. Multiple Sclerosis
  16. Muscular Dystrophy
  17. Parkinson’s Disease
  18. Surgery to Aorta
  19. Alzheimer’s Disease / Severe Dementia
  20. Fulminant Hepatitis
  21. Motor Neurone Disease
  22. Primary Pulmonary Hypertension
  23. HIV Due to Blood Transfusion and Occupationally Acquired HIV
  24. Benign Brain Tumour
  25. Viral Encephalitis
  26. Bacterial Meningitis
  27. Angioplasty & Other Invasive Treatment for Coronary Artery
  28. Blindness (Loss of Sight)
  29. Major Head Trauma
  30. Paralysis (Loss of Use of Limbs)
  31. Terminal Illness
  32. Progressive Scleroderma
  33. Apallic Syndrome
  34. Systemic Lupus Erythematosus with Lupus Nephritis
  35. Poliomyelitis
  36. Loss of Independent Existence

Critical Illness Policy

The trail of life is full of uncertainties and therefore the right thing to do is to be well-prepared against unforeseen events. Critical illness policy acts as your perfect companion and provides required financial support in the form of a lump sum when any of the insured members are diagnosed with a critical illness.

With the right critical illness policy, you can forget all your worries and focus on achieving your long- and short-term goals with an accelerated pace and full potential. It is extremely crucial to compare different critical illness policies while purchasing them as it helps to get the best plan. Furthermore, the right plan would not burn a hole in your savings, instead you will be able to easily afford the premium for the policy.

Purchasing Best critical illness policy is a wise-move that makes it easier for the policyholder to tackle life-threatening diseases and situations. Lower premiums and high lump-sum help you to focus on your goals and health without worrying about the future. 

Features of Critical Illness Policy

Here’s a quick rundown on the various major features and benefits of critical illness policies in UAE-

  • Provides coverage in the form of lump-sum ranging when any of the insured members are diagnosed with a critical illness. 
  • Most of the critical illness policies provide a minimum grace period of 30 days. 
  • Medical screening is often required by the provider if the applicant or any of the member is over the age of 40 or has a medical history. 
  • The critical illness cover is provided in the form of a lump sum.
  • Some of the critical illness insurance cover day care-procedures that require the time of 24 hours to 72 hours. The coverage and clauses are subject to vary from provider to provider.
  • Pre-existing ailments and conditions are not covered by the policy. 
  • Policyholders can either avail coverage in the form of a lump sum or opt for cashless hospitalization based on their convenience.

Why do you need Critical Illness Insurance?

As mentioned earlier the modern-day lifestyle is strenuous and does not provide enough time to properly look after our health and lifestyle. As a result, we are highly-prone to life-threatening critical illnesses that can have a debilitating effect on the overall life of the patient and family members. Typically, the treatment of these diseases requires huge amounts of money which leaves the family members of the affected shattered physically, financially, and emotionally. 

To safeguard your family members against critical illness, opting for the Best critical illness policy is important. Critical illness coverage ensures that your loved ones get the right treatment without worrying about finances.  

Best Critical Illness Plans in UAE

Some of the best critical illness plans in the UAE are as follows-

Zurich Critical Illness

Zurich is a Switzerland based insurance provider that renders services all across the globe. The Zurich critical illness coverage provides financial coverage in case the policyholder or any of the insured is diagnosed with the ailment.

MetLife Critical Illness

MetLife is a global market-player in the insurance industry that offers a wide array of insurance products and services not just in the UAE but all across the globe. With the MetLife critical illness insurance coverage, you can get protection against various critical illnesses. 

Benefits of Critical Illness Coverage Cover

The major benefits of critical illness insurance cover are as follows-

  • The majority of plans with critical illness cover provide sum assured against 37 different ailments. 
  • The overall application, approval, and claim settlement are smooth and hassle-free which makes it the right choice.
  • One of the major benefits of Best critical illness cover is that the sum assured is paid in the form of a lump sum which can easily be used as income replacement to make ends meet when the primary breadwinner of the family is suffering from critical illness.
  • In case any of the insured members of the policyholder is diagnosed with critical illness there is a guaranteed pay-out in the form of the lump sum for the treatment of the sick and for the needs of the family members.
  • The accidental death benefit is also included in critical illness coverage. The coverage and clauses are subject to vary from provider to provider, therefore read the fine print of the plan carefully.
  • A unique benefit of critical illness coverage is that it provides coverage in case of any event or illness leading to temporary or permanent disability of the insured member or policyholder.  

Life insurance and Critical Illness Coverage Cover

If you are looking for critical illness insurance coverage to protect your family members and loved ones against life-threatening diseases it is important for you to know that these plans are usually available as add-on riders along with health insurance and life insurance plans. When you are opting for life insurance/health insurance, most of the providers offer add-on riders that can be purchased by paying an additional premium over and above the price of health/life insurance.

The basic idea of getting a life insurance policy with critical illness coverage is to enhance the protection quotient offered by the health/life insurance policies. For the list of ailments that are covered under critical illness coverage refer to the first section of this blog. 

How to choose Best Critical Illness Insurance in the UAE?

Based on the factors mentioned below one can choose the best critical illness insurance in UAE-

1. Sum Assured

The first factor that is crucial in choosing the best critical illness insurance in the UAE is the sum assured or the coverage offered by the plan. Ideally, you should look for a policy from best critical illness company that comes with the maximum coverage because the amount of coverage offered by the plan is directly proportional to the financial security. Furthermore, it is also important to look out for a plan that offers coverage against the maximum number of critical illnesses, a minimum of 37.

2. In-built Sum Assured

While critical illness cover is usually available as a rider with health/life insurance policy in the UAE, some of the providers offer in-built coverage. While choosing a plan that offers built-in coverage make sure you compare different plans online and offline to get the best plan.

3. Pre-existing ailments

As mentioned earlier, under critical illness insurance providers do not cover pre-existing illnesses, however, some of the plans do cover them but after a period of 48 months. The coverage and clauses are subject to vary from provider to provider, therefore, read the fine print of the policy before purchasing the plan.

4. 15 Day Free-period

Most of the critical illness insurance companies offer a 15-day free- period to decide and make up your mind whether you would like to go for the plan or not. During this period if you find the plan unsuitable or not up to your needs you can apply for a refund and get your money back.

5. Claim-settlement Ratio

Try and opt for a provider that has a high claim settlement ratio in comparison to other providers as the probability of receiving the sum assured is higher when you choose a provider with a high CSR. 

Who should Buy Critical Illness Insurance Policy?

Considering the rising costs of health-care services and inflation, it is vital to purchase comprehensive health insurance that protects your loved ones against lifestyle-disorder and other illnesses. It has been observed and seen that critical illnesses are genetic and there is a high probability of contracting them in case any of your family members has been diagnosed with it in the past. People with a family history of critical illnesses and primary breadwinners should definitely opt for Best critical illness insurance.   

Eligibility Criteria and Documents required for Critical Illness Insurance

The eligibility criteria and documents required for critical illness insurance is as follows-

  • Valid Passport
  • Emirati Identity proof
  • Proof of Address
  • Proof of employment/salary certificate
  • Duly filled application form (online/offline) 

Steps to file Claim under Critical Illness Insurance policy

Policyholders can opt for the following steps to file a claim under a critical illness insurance policy-

  • Inform your policy provider telephonically or by writing an email.
  • Attach the duly claim form along with the required documents
  • Wait for the approval of the claim 
  • id=critical-illness-vs-health-insurance" Confirm the approval 
  • Choose for lump sum/ cashless hospitalization 

Critical Illness vs Health Insurance 

Here is a quick comparison between critical illness cover and health insurance plans in the UAE-

Critical Illness Insurance

Health Insurance Policy

 Covers life-threatening critical illness

Provides comprehensive health coverage

Hospitalization is not mandatory to apply for the claim

Policyholder can get reimbursement of bills by submitting to the insurance provider

It provides Illness coverage against 37 critical illnesses.

Providers extensive coverage against a variety of medical conditions

Usually comes with a waiting period based on the type of pre-existing illness

Offers extensive coverage, that includes pre-and post-hospitalization expenses.

Typically comes as an add-on rider

Usually comes as comprehensive health insurance