Critical insurance (CI) adds an extra cover to the regular mediclaim policy or insurance product. These plans not only give the insured a lump sum amount but also provide the much-needed financial back-up.

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Some of the illnesses covered under CI are cancer up to a specified stage, heart attack (first time), open-heart coronary artery bypass grafting, coma of specified severity, kidney failure that requires regular dialysis, among others.

Given the rise of critical illnesses and the high cost of their medical treatment, it is important for customers to opt for the critical illness (CI) plan.

Here are some factors to consider while buying a critical illness plan:

Analyse the present health condition

According to InsuranceDekho, the present health plays a vital role when it comes to deciding whether to buy a critical illness policy or not. A person, who smokes and lives a hectic work life, is more prone to vulnerable health problems in the future. It’s, therefore, good to choose the best critical insurance policy early so that the policyholder doesn’t have to encounter too many hassles.

Look for comprehensive coverage

It's important to go through the list of illnesses covered before buying the policy. Alongside, customers should read term and conditions properly to be aware of the exclusions in the policy. One should also see how comprehensive the cover is, who all it covers in family, and not just limit to financial aspects of the policy.

Check service quality of the insurer

According to Ankit Agrawal, CEO and CoFounder, InsuranceDekho, it’s equally essential to check the service offered by the company. Customers should check their claim settlement ratio, the procedure of claim settlement, time taken and online reviews if available.

Look for the age coverage

Customers should also check the maximum age to which policy provides coverage for critical illnesses.

Check the financial standing

Customers should check the present financial situation if it is sturdy enough to combat any unprecedented health issues.

Check survival period

In most instances, insurers include a survival period of 30 days. However, the period may be lower or higher than 30 days depending on the type of illness. This means that customers must survive for at least the number of days mentioned as the period from the date of diagnosis to claim benefits under critical illness cover, according to Aditya Birla Capital.

Disclaimer: CNBCTV18.com advises users to check with certified experts before taking any investment decisions.