Can critical illness insurance be taken along with health insurance?

Yes, you can absolutely take a critical health insurance plan along with your base health insurance plan, and it is generally advisable because they cover different needs as both cover different needs in your health emergencies. In addition to this, it is a good idea to have critical illness cover along with your base health plan. Your base health insurance plan pays for your hospital bills, while critical illness plans pay a lump sum amount for broader expenses, including lost income, household expenses, and non-medical recovery needs after a major diagnosis. You can purchase a critical insurance policy as a standalone policy or as an add-on cover to your base health care policy for enhanced financial protection against major illnesses like cancer, organ failure, heart attack, etc.

On the contrary, in India, where the healthcare expenses are skyrocketing, lifestyle diseases are increasingly prevalent. In this scenario, relying on a single type of medical insurance plan may not be sufficient. While a standard mediclaim policy covers hospitalisation expenses, critical illness insurance provides a lump sum amount of money upon the diagnosis of a severe disease.

Potential benefits of combining your base policy with a critical health insurance plan

A medical insurance plan is essential, but it may not be enough to cover the huge expenses of critical illnesses such as cancer, kidney dialysis, heart attack, stroke, and organ failure. These severe medical conditions often require prolonged treatment, expensive medical interventions, and lifestyle adjustments, which may exceed the overall limits of your existing base policy. On the other hand, a standard health insurance policy covers hospitalisation and basic medical costs but may not include non-medical expenses such as lost income, loan payment and others. For this compensation, critical insurance provides a lump sum payout upon diagnosis of severe medical ailments, offering financial protection for both medical and non-medical burdens. This ultimately helps individuals to cover treatment, household expenses, and loan repayments, ensuring financial stability during prolonged recovery. This is why both are considered to serve different but equally important purposes. It works best when thought of as a complementary form of health protection.

Hence, one should not rely on only health insurance; instead, one must consider purchasing both to stay fully protected. However, if your budget is constrained, it is sensible to purchase medical insurance before a critical illness health insurance plan.