Once you have decided to take up life insurance policies that offers coverage for you and to your family, the first and foremost thing that you need to do is to verify the policy details offered by different companies.  You should get the life insurance quotes offered by leading insurance companies in the place where you are.  Then compare the quotes that you have in hand and manipulate on it and check the company which offers low premium rates.  You should choose one before looking at these issues.  Apart from the critical illness insurance policy, there are other types of policy like the life insurance, property insurance, vehicles insurance, and accident insurance and so on.  

When an individual first applies for an insurance policy, he must undergo a thorough medical examination to prove that he is not a health risk.  The healthier the person, the more favorable will be the terms and conditions of the policy.  Unhealthy people are considered a health risk and in greater danger of contracting an illness or meeting with an untimely death.  In this case, insurance companies will have to pay the dues earlier than the maturity date and this could result in a loss for them.  If a person who is a health risk will find getting a life insurance policy is difficult or the premiums will be very high. 

Few insurance companies offer policies for people who do not wish to take up a medical check up.  ‘Life insurance no exam’ is a policy which does not require the policy holders to undergo medical examination.  But the policy holders have to pay more premium rates than the average because the insurance companies do not want to take risk and go on a loss.  People whose job is risky or if they participate in dangerous sport will opt for such insurance plan.  Even chain smokers and people who are addicted to alcohol will prefer this life insurance no exam policy.
 
Now we will discuss the terms and conditions of the critical illness insurance policy.  Once an individual has signed to take this policy he will be asked to pay the premium amount in lump sum rather than periodically.  This is because the person will have poor medical records and if anything fatal happens to him the company should bear the expenses.  Moreover if the individual has to undergo any major operation or therapy, the insurance company assures of his medical expenses thereby helping him and relieving him from all anxieties.

Once the person undergoes treatment in the hospital the insurance companies will pay the critical illness insurance amount directly to the hospital.  Apart from settling these hospital bills it will also provide the policy holder an amount which he can use to take care of him daily if his earning capacity goes down. The critical diseases the policy covers are listed below:
- Heart Disease
- Stroke
- Cancer
- Malfunction of the Kidneys.
- Diabetes-Type II
- Coronary bypass surgeries.
- Multiple sclerosis
- Alzheimer’s disease
- Loss of limbs or hearing impaired
- Third degree burns
- Parkinson’s disease
- Major organ transplantation

If you taken the critical illness insurance policy from reputed companies then you can stay in peace for it will give you good returns.  You will be relieved of the worry that you have in settling the huge hospital bills.  Moreover the satisfaction that you have will improve your health.  Census shows that 17% of women and 20% of men face critical illness before they reach 65.  Though this insurance is not going to protect you from acquiring any illness, it helps you in paying your medical bills and reduces the tension that you and your family members would face. Around 25 kinds of critical diseases are being covered by most of the companies.

Within 28 day of the diagnosis of your illness the insurance companies will pay you the amount.   If you begin this policy at an young age then you will be asked to pay only less premium.  In families where the disease is hereditary, it is better for you to start the insurance early before you get the disease.  Otherwise you have to pay high premiums one you get the critical illness.  This policy is well suited for people who are single for they can’t depend on their friends or relatives or the Government to support them when they are faced with critical illness.

Read the small print carefully and compare policies and prices before choosing a policy.  There are many terms and conditions and you must get one that will suit your needs.  Besides, all policies do not cover all critical illnesses.  So, if there is a family history of breast cancer or diabetes, then choose a policy that will definitely cover these. Critical illness insurance is not a waste of money but a necessity.