I was told that only those in good health can take out a Critical Illness Insurance plan. Since there is a history of heart disease in my family, am I ineligible for this insurance?

Those with a personal history of heart disease, cancer, kidney failure etc., cannot get critical illness insurance. However, someone who is obese and has diabetes and hypertension that may lead to a critical illness can apply for cover. In such cases, insurance companies call for medical tests and previous medical test reports and also information on family health history.

The insurance company might accept the cover at standard premium rates or at a higher premium or exclude cover on some health conditions.

Regarding family history of critical illnesses and early death, insurance underwriters carry out the risk analysis on a case-to-case basis based on factors such as the longevity of the parents and siblings, present health condition and lifestyle of the insured. Discuss this with a qualified adviser to ascertain the best way forward for your particular situation.