4 steps to decode a critical illness plan

2. How much is the coverage? A small coverage would make your planning redundant. Treatments become expensive in a hurry, driven by better drugs as well as general inflation. Chose a plan which gives you enough coverage so that you have one less problem to deal with

3. Corner case scenarios? If the insured does not survive 30 days post the claim, or has been diagnosed within 90 days of purchasing the plan, he or she cannot claim any benefit from the cover

4. Term? While general insurers typically offer a critical illness cover for 1-5 years, life insurers provide this as a rider for a relatively longer period, typically between 10 and 20 years.

The most important advice of all: Lead a healthy lifestyle, so that you yourself minimise the chances of contracting a critical illness.

(Author is CFO, Max Bupa. Views expressed in this article are author's own and do not represent those of The Indian Express)

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