Do you need a critical illness plan?
Health insurance plans that pay a lump sum work well as a to supplement basic mediclaim policies
A basic health insurance policy that pays hospitalization bills is a must-have, and by now, most of us realize this. But will a health insurance policy be enough if you are diagnosed of a critical illness or you meet with a serious accident? Assuming you have sufficient health insurance cover (at least 3-5 lakh individually and at least 7-10 lakh as family floater), your hospitalization will be taken care of. But what about incidental expenses? Or worse, what if the event impairs your ability to earn? You will be forced to dip into your investments or slip into debt.