New Delhi, June 21 -- Awareness of health insurance has risen sharply in recent years. Yet one question continues to surface among consumers who already have comprehensive medical coverage: Do they still need a critical illness policy?

The answer often starts with correcting a misconception.

Many consumers assume that standard health insurance policies do not cover major illnesses such as cancer, heart attack or stroke. That is incorrect, said Anuj Kesarwani, founder of financial planning firm Zenith Finserve.

"Your comprehensive health insurance policy does not exclude critical illnesses. This misconception probably stems from the fact that health insurance and critical illness insurance are marketed separately," said Kesarwani.

The ...