Myth 1: Critical illness insurance is the same as health insurance. 

Fact: No, Critical illness insurance is a part of health insurance Policy that provides a lump-sum payment upon the diagnosis of a covered critical illness. It is not a substitute for comprehensive health insurance. You can buy policy which cover only critical illness.

Myth 2: Critical illness insurance only covers a few specific illnesses. 

Fact: Yes, critical illness listed under insurance plans. It covers major illnesses like heart attack, stroke, cancer, organ transplants etc.

Myth 3: Critical illness insurance is unnecessary if you have life insurance. 

Fact: No, Life insurance provides a death benefit, while critical illness insurance provides a payout upon diagnosis of a covered condition, even if the insured survives. They serve different purposes.

Myth 4: Critical illness insurance is only for older individuals. 

Fact: No, Critical illness can affect people of all ages.

Myth 5: You can only use the payout for medical expenses under critical illness . 

Fact: The lump-sum payout from critical illness insurance can be used for various purposes, including medical bills, mortgage payments, childcare, or any other financial obligations.

Myth 6: Critical illness insurance is too expensive. 

Fact: Premiums vary based on factors such as age, health, and coverage amount. Comparing plans and adjusting coverage can help find an affordable option.

Myth 7: Critical illness insurance covers pre-existing conditions. 

Fact: Pre-existing conditions may affect coverage eligibility or premiums. It’s essential to disclose accurate health information during the application process.

Myth 8: Critical illness insurance only pays once in a lifetime. 

Fact: Some policies may offer multiple claims for different illnesses, while others may have limitations. Review policy details to understand the terms and conditions.

Myth 9: You need a medical exam to get critical illness insurance. 

Fact: Many critical illness insurance plans offer simplified underwriting, requiring minimal or no medical exams. The application process may involve answering health-related questions.

Myth 10: Critical illness insurance only covers the policyholder. 

Fact: Some plans offer coverage for spouses and children. Family coverage can provide financial support for the entire household.

Myth 11: Critical illness insurance is only for those with a high-risk lifestyle. 

Fact: Anyone can benefit from critical illness insurance, regardless of lifestyle. Health risks can be unpredictable, and having coverage provides financial protection.

Myth 12: You can’t get critical illness insurance if you’re already healthy. 

Fact: Critical illness insurance is designed to provide financial support during unexpected health crises. Being healthy does not disqualify you from obtaining coverage.

Myth 13: Critical illness insurance is only for those with a family history of illnesses. 

Fact: While family history can impact risk, critical illnesses can affect individuals without a family history. Lifestyle factors also play a significant role.

Myth 14: You have to use the entire payout for medical expenses. 

Fact: The lump-sum payout is versatile and can be used at the policyholder’s discretion, addressing various financial needs beyond medical bills.

Myth 15: Critical illness insurance is only for serious illnesses; minor illnesses aren’t covered. 

Fact: True,

Myth 16: You can purchase critical illness insurance only after a diagnosis. 

Fact: False.

Myth 17: Critical illness insurance is only for those with a high income. 

Fact: False