Secure Your Future with Critical Illness Insurance

Having a robust financial safety net is crucial in a world where uncertainties can knock on your door at any moment. That's where insurance comes in, providing you with the peace of mind that you and your loved ones are protected, even when life takes an unexpected turn.

In India, insurance is not just a wise choice; it's a necessity. With the ever-increasing cost of healthcare and the unpredictable nature of life, you must ensure your insurance plan covers all the bases. This is where the concept of a life insurance plan with a Critical Illness Rider steps in. Let's dive deep into this coverage and how you can benefit from it.

When you get sick, your regular health insurance usually covers the basic medical expenses like doctor visits and hospital bills. But what if you get hit by a serious illness like cancer, heart attack, or stroke? These illnesses can be expensive to treat, and they can also affect your ability to work and earn money.

This is where Critical Illness Insurance comes to the rescue. It's like an extra layer of protection. When you have this type of insurance, if you're diagnosed with one of the serious illnesses listed in your policy (we have a set list), we will give you a lump sum of money. You can use this money however you want. Whether it's for medical bills, paying your mortgage, or even taking a well-deserved vacation to heal both physically and mentally – it's up to you.

The idea is to ease your financial burden when you're dealing with a major health crisis, so you can focus on getting better without worrying too much about money. So, Critical Illness Insurance is like having a financial superhero to help you when you're battling a serious illness, so you can heal and recover without worrying about money matters. It's not a replacement for regular health insurance but an extra shield when you need it most.

In essence, Critical Illness Insurance is about ensuring that you and your loved ones are protected from the financial devastation that can accompany a serious illness.

A Critical Illness Policy is like a financial safety net. It's not the same as regular health insurance, which covers your typical medical expenses. Instead, it's designed to help you with significant health challenges that can be costly to treat. Here’s how it works. When you purchase a Critical Illness Policy, you agree to pay a yearly fee, known as a premium. This premium is like your membership fee to stay protected. In return, if you ever get diagnosed with one of the specific severe illnesses listed in the policy, you will get a lump sum of money.

The following benefits are covered under ACKO’s life insurance plan.

Imagine you have a special shield that protects you and your loved ones from unexpected troubles. Well, that's what term insurance with critical illness cover is like.

So, term insurance with critical illness cover is like having a double layer of protection. The regular term insurance takes care of your family if something happens to you, and the critical illness cover gives you a financial boost if you get seriously sick.

Here’s how you can easily buy a Critical Illness plan online.

Step 1: Research and Compare

Before you buy a Critical Illness Plan, it's essential to do some research. Start by comparing different insurance providers and their plans.

Step 2: Download the ACKO app

You can buy a Critical illness insurance plan with our health insurance or life insurance plans.

Step 3: Share necessary information

Next, you need to share all the necessary information by answering a few questions.

Step 4: Medical Checkup (if required)

Depending on your age and the insurance plan, you may need to undergo a medical checkup.

Step 5: Payment

After you've filled out the form and completed any required medical checkup, you'll need to make the premium payment.

And that's it! You've successfully purchased a Critical Illness Plan online in India. Remember that having this coverage can provide financial security and peace of mind during challenging times.

You may need the following documents while raising a claim against your Critical illness rider.

Our process is designed to be straightforward, ensuring that you can easily make a claim if the time comes. Below, we've outlined the steps for raising a claim.

Step 1: Download the ACKO app and log in

Start by downloading our user-friendly ACKO app if you haven't already. Then, simply log in using your account.

Step 2: Open your policy and initiate the claim

Within the app, locate your ACKO Insurance Plan and click on the "claim" option

Step 3: Upload the necessary documents and submit

Next, we'll ask you a few basic questions and request the essential documents. Take a moment to verify all the details, and once you're satisfied, go ahead and submit your claim.

That's all! We've made the process as hassle-free as possible for your peace of mind.

Imagine you have a Critical Illness Insurance policy. It's like a safety net that helps you financially if you get really sick with certain severe illnesses. However, there are some situations where this safety net won't catch you, and those are called "exclusions." Exclusions are the things that we can’t cover. Here are some of the exclusions of a Critical Illness Plan.

Imagine you're a person who works hard to take care of your family and yourself. You're healthy and doing well, but life can be unpredictable. Sometimes, serious illnesses like cancer, heart problems, or kidney diseases can happen to anyone, even if you're leading a healthy lifestyle. This is where a Critical Illness Insurance Policy comes in. It's like having a superhero shield for your health. Here's who should think about getting it.

So, to sum it up, if you're the main provider for your family, have a history of serious illnesses in your family, work independently, don't have significant savings, or have a high-stress job, then you might want to consider getting a critical illness insurance policy. 

Here are the tax benefits of buying these insurance covers.

1.Critical illness Insurance

a. Tax Deduction: The premium you pay for your Critical Illness Insurance is eligible for a tax deduction under Section 80D of the Income Tax Act. You can get a deduction of up to Rs. 25,000 per year if you're under 60 years old. If you're over 60, this limit goes up to Rs. 50,000.

b.Family Coverage: If you buy Critical Illness Insurance for your family, you can get an additional deduction of up to Rs. 25,000 (or Rs. 50,000 if you or your spouse is over 60) on the premium you pay.

So, in simple terms, you can reduce your taxable income by the amount you pay for Critical Illness Insurance, making it easier on your wallet when tax season comes around.

2.Disability Insurance

Disability Insurance is like a safety net. It helps you if you're unable to work due to a disability. Disability insurance payouts are typically tax-free. This means if you have a policy and you become disabled, the money you receive from your insurance won't be taxed. It's all yours to help cover your living expenses and medical bills.

Please review the rules related to the tax regime you have opted in for before buying insurance coverage.

Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on industry experience and several secondary sources on the internet, and is subject to changes. Please go through the applicable policy wordings for updated ACKO-centric content, and before making any insurance-related decisions.