Written by : Knowledge Centre Team
2025-12-23
982 Views
6 minutes read
Share
You are lucky if you have not come across the term 'critical illness' so far. However, the wise decision would be to understand critical illnesses and protect yourself and your loved ones from the financial burden it brings with it.
A critical illness is a life-threatening disease that includes diseases like cancer, renal failure, heart attack, etc. Treating these illnesses requires you to visit hospitals multiple times over a long period. If you don't have a life insurance plan to protect yourself against critical illnesses, you may have to spend the life savings that you would have kept for your child's education or some other important financial goal.
Why is Buying the Best Life Insurance Plan for Critical Illnesses Important?
If you are diagnosed with any critical illness, you will need both time and money to recover. Along with it, you may have to quit your job to get treatment for the same. If you are the only breadwinner in your family, everyone dependent on you will go through a tough time. To sum up, critical illness comes with two problems:
- You lose your monthly income/job
- Your monthly expenses increase exponentially to cover the high cost of treatment
To ensure your family does not go through financial stress when you're diagnosed with a critical illness, you need a critical illness insurance plan.
How to Get a Critical Illness Cover?
Now that you know the need for protection against critical illness through insurance, you must be wondering the options for getting a critical illness cover. Below are three ways of getting a critical illness cover -
1. With Health Insurance
Basic health insurance plan does not come with a critical illness cover. But most health insurance plans give you the option to include critical illness cover in the same. With general health insurance, you cover your surgical and medical expenses. Health insurance that comes with critical illness cover gives you a lump sum amount. You can use a lump sum amount for the treatment of critical illness.
2. With Life Insurance
The next option to secure yourself with critical illness is by buying life insurance with riders. Almost every life insurance plan gives you the option to take additional riders. The critical illness riders protects you and your family when it comes to paying large medical bills. In addition to your base Sum Assured, you get additional cover for critical illness.
For example, you buy life insurance with a life cover of Rs 1 crore and take critical illness cover as a rider. It will give you additional protection (sum assured) of Rs 40 lakh against critical illness. The premium charged will be higher in this case.
The other option is to opt for Canara HSBC Life Insurance iSelect Smart360 Term Plan, in which you get critical illness cover built-in. You are paid the sum assured if you die or if you are diagnosed with a critical illness. The advantage of the built-in feature is that the premium you need to pay is lower (compared to the rider option) while the sum assured is more or less the same.
For example, with the iSelect Smart360 Term Plan Life Option, you can opt for a sum assured of Rs 1 crore. It will be paid to you (or nominee) if you die or are diagnosed with any critical illness.
3. Standalone Critical Illness Insurance
You can also protect yourself from critical illness by buying a standalone critical illness policy. With a standalone critical illness plan, the number of diseases covered is usually higher. However, it is not always the case. Some health insurance plans may cover all critical illnesses that you may get in a standalone option.
When you buy the iSelect Smart360 Term Plan, all the major critical illnesses are covered, and you don't need the standalone option. However, you can still go with a standalone policy for specific critical illnesses.
Also Read - Disability Insurance
4. Specific Critical Illness Plans
There are certain diseases in which the cost of treatment is very high. A general critical illness cover may not be sufficient in such cases. Below are two such critical illnesses cover which may require your special attention:
- Cancer Cover - Cancer cover is a type of critical policy which gives your coverage for a whole range of costs associated with the diagnosis and treatment of cancer. It includes hospitalization, radiation, surgery, chemotherapy, etc. All the different types of cancers are included in the cancer cover plan.
- Heart Cover - Just like there is a cover for cancer-related diagnosis, similarly, there is a cover for heart-related issues. The payout you receive will depend on the severity of the diagnosed condition and claims you have previously admitted under this policy.
Secure Your Family’s Future with the Right Life Insurance Plan
Enter OTP
An OTP has been sent to your mobile number
Didn’t receive OTP?
Application Status
Name
Date of Birth
Plan Name
Status
Unclaimed Amount of the Policyholder as on
Name of the policy holder
Policy No.
Address of the Policyholder as per records
Unclaimed Amount
Sorry ! No records Found
Request Registered
Thank You for submitting the response, will get back with you.
Thank you for your interest in our product. Our financial expert will connect with you shortly to help you choose the best plan.
Disclaimer - This article is issued in the general public interest and meant for general information purposes only. The views expressed in this blog are solely those of the writer and do not necessarily reflect the official policy or position of Canara HSBC Life Insurance Company Limited or any affiliated entity. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. You should consult with a qualified professional regarding your specific circumstances before taking any action based on the content provided herein.
Recent Blogs
5 Benefits of Gifting Life Insurance Cover to Your Spouse
09 July '26
1100 Views
8 minute read
Discover how gifting life insurance to your spouse supports financial security, protection and long-term family planning.
Read More
Life Insurance
How to Secure Your Future with Whole Life Insurance?
09 July '26
1025 Views
6 minute read
Discover how whole life insurance provides lifelong coverage and helps support long-term financial planning goals.
Read More
Life Insurance
Best Short-Term Investment Options with High Returns in 2026
08 July '26
1360 Views
12 minute read
Best Short-Term Investment Options in India. Find the top 10 short-term investment options with high returns for a short time.
Read More
Life Insurance
What is Deductible in a Life Insurance Plan?
08 July '26
1410 Views
8 minute read
Learn what is deductible in a life insurance plan and how it impacts your coverage. Get expert insights and guidance from Canara HSBC Life Insurance for better planning.
Read More
Life Insurance
Persistency Ratio in Insurance: Meaning and Importance
08 July '26
2868 Views
10 minute read
Know what the persistency ratio in insurance means, how it is calculated, why it matters for insurers and policyholders, and what it indicates about policy performance.
Read More
Life Insurance
What is Insurance? Meaning, Types & Benefits Explained (2026)
07 July '26
9340 Views
10 minute read
Understand insurance meaning, types, benefits & why insurance is important for financial security in India.
Read More
Life Insurance
PLI Interest Rate 2026: Updates, Key Features & Eligibility
07 July '26
1231 Views
9 minute read
Explore the latest PLI interest rates, bonus updates, and key features for 2026. Learn about policy types, eligibility, and benefits of Postal Life Insurance.
Read More
Life Insurance
Happy Father's Day 2026: Celebrate Every Father's Promise of Protection
20 June '26
33 Views
5 minute read
Celebrate Happy Father's Day 2026 by honouring every father's love, care and commitment. Discover how life insurance helps protect your family's future.
Read More
Life Insurance
What is an Insurance Coverage?
06 May '26
1404 Views
8 minute read
Learn what insurance coverage means, how it works and why choosing the right coverage is important for financial protection.
Read More
Life Insurance
Life Insurance - Top Selling Plans
We bring you a collection of popular Canara HSBC life insurance plans. Forget the dusty brochures and endless offline visits! Dive into the features of our top-selling online insurance plans and buy the one that meets your goals and requirements. You and your wallet will be thankful in the future as we brighten up your financial future with these plans.
Family Shield: Enhanced Protection
iSelect Smart360 Term Plan
- 3 Plan options
- Life cover till 99 years
- Steady income benefit
- Block your premium at inception
Start Young, Pay Less, Stay Secured
Young Term Plan
- Life cover till 99 years
- Coverage for spouse
- Block your premium rate
- Covers 40 critical illness
Fixed Returns, Zero Risks & Worries
iSelect Guaranteed Future Plus
- 4 Plan options
- Life cover + Guaranteed benefits
- Accidental death benefit
- Premium protection cover
Popular Searches
- Term Life Insurance
- Whole Life Insurance
- Critical Illness Insurance
- Accidental Death Benefit Rider
- Compare Life Insurance Quotes
- Best Life Insurance Companies In India
- Factors Affecting Life Insurance Premiums
- Life Insurance Rider
- Life Insurance Plans
- Types of Life Insurance
- Term Life Insurance Tax Benefit
- What is Insurance?
- Life Insurance Premium
- Life Insurance For Children
- Life Insurance for Seniors
- Whole Life Insurance Plans
- Group Life Insurance Plans
- Life Insurance Claim Process
- Tax Benefits of Life Insurance