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fCritical Illness cover is a plan which covers certain diseases like Stroke, Cancer, Heart attack which do not necessarily cause death but diminish the working capacity and which have extremely expensive treatments.

The Insurance Company hands over the entire amount of the cover to the insured at once, if he suffers from the listed diseases. After handling over the money, the policy expires.

The amount that you get is tax free. You would not have to pay anything to the government for it. Also the premium amount you pay is deducted from your taxes.

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Critical illness insurance plan

Tags: Critical illiness insurance plan, listed disease, policy expiry, tax free amount