Health insurance is what everyone buys to cover themselves for any and every kind of medical emergencies such as accidents, diseases or any ailment that requires hospitalization. But there are certain ailments that may not be sufficiently covered under your basic health insurance. Also there are some illnesses that leave you disabled or paralyzed for life; it is for such illnesses that one should have a separate cover called Critical illness cover. 

Critical illness insurance covers you for around 12 diseases like Cancer, Kidney failure, Organ transplant, Multiple sclerosis, Major Burns, Coronary artery surgery, Coma, Aorta graft surgery, Coronary artery bypass surgery, Paralysis, Primary pulmonary arterial hypertension and Stroke. Your basic health insurance can never be enough to cover for diseases like such as there will always be a cap on hospitalization expenses, medicines and other expenses. Critical illness insurance will come to your rescue when you are low on cash. 

Critical illness insurance for organ transplant is an utmost necessity because of the lump sum amount received post diagnosis. This amount is an “add on” to your basic health insurance as it helps wipe off all your monetary worries. Worries because flow of income would stop during treatment and recovery, so opting for critical illness insurance may seem like a wise thing to do. The lump sum amount/alternative income will be helpful in paying for the home loan/rent or for expenses related to offspring or spouse (in case dependent).

What is most advisable is to go for a balanced plan consisting of both basic health insurance and critical health insurance. The above plan can save you by providing a decent balance between pricing and coverage. 

There are numerous things to take care of while opting for critical illness insurance for organ transplant. Varying from insurer to insurer, the time frame for a contracted illness to be covered ranges from 60 to 120 days from the date of buying the policy. It is necessary to check whether or not organ transplant will be covered as a critical illness. According to IRDA's recent announcement, it is compulsory for every insurer to cover at least 12 critical illnesses. So, organ transplant is definitely going to be part of that list. 

Seek an insurer who offers you the liberty of choosing of either cashless reimbursement or, a benefit policy (You can choose to take lump sum amount and use it as per your convenience). Don't forget, about 30 days survival period post the diagnosis of a critical illnesses for the lump sum compensation to be provided. 

Make sure you go for a floater policy – one policy for the insured person and his/her spouse, or two kids.

Start when you are young. The younger the better, as the premium to be paid would be less. A renewal discount of 5 per cent can be availed as no claims benefit. Also, very few insurers cover pre-existing diseases and that too after a waiting period of four years.