Difference between Health Insurance, Critical Illness & Cancer Insurance Plan

Reason to Buy

• Covers all expenses of cancer
• This is a benefit-based policy.
• Can use it to pay for your medical expenses or as a replacement of your monthly income

• Critical illness insurance is a benefit-based plan that provides lump sum benefit after critical illness has been diagnosed
• The amount can be used for treatment or recuperation expenses

• A basic indemnity-based plan, which means that the insurer will reimburse hospital expenses or provide cashless treatment • Ideal for covering the rising cost of hospitalization, treatments, diagnosis, medical aid, etc.

What Does It Cover?

Axis Max Life offers the Cancer Insurance Plan that provides comprehensive coverage against all stages of cancer (Pre-stage, Early Stage and Major Stage)

Covers some of the common critical illnesses mentioned in the policy document. The pay-out is yours to spend

Covers actual medical and surgical expenses incurred by the insured. Coverage is restricted to hospital expenses only, with strict sub-limits for room rent, etc.

Who is it for?

Ideal for those individuals who identify the risks and understand the costs associated with cancer.

A cancer insurance policy should be purchased in addition to a basic health insurance policy. Start with a basic health insurance policy and add a specialized cancer insurance policy

Ideal for individuals who have a higher probability of developing a critical illness and can identify the risks and costs associated with such illnesses.

One should ideally start with a basic health insurance policy and then avail a critical illness policy for additional cover

A basic policy that is a must for everyone. With rising overall healthcare costs, a health insurance policy should be given precedence before the other two. However, in case of critical illness or cancer, a basic health insurance policy might prove to be inadequate. Hence the need to add critical illness and cancer cover

Insurance Term

Available for long terms like 20 years

Available for long terms like 20 years

Needs to be renewed after every 1 or 2 years