Critical Illness Insurance
Considering today's lifestyle, the threat of facing a major ailment is always present. Due to modern lifestyle factors like long working hours, stress at work, lack of physical exercise, irregular meal patterns, junk food habits, alcohol consumption and smoking habits, the threat of people facing major illness have been rising. This is the reason critical illness cover is important to support you with a lump sum compensation to cover your medical and lifestyle needs.
Mr.X has taken a health insurance cover of Rs. 2 Lakh for his family. He, unfortunately, needs to undergo bypass surgery. This sum Insured can be fully consumed or prove to be insufficient for treatment costs. Plus, the family's health insurance cover would also be exhausted. In case Mr.X's son meets with an accident, there will not be any sum Insured left.
He can either take a critical illness policy to cover hospitalisation expenses - in which case he can claim from this Policy and keep his health insurance policy intact. Or he can take a critical illness policy on benefit basis - in which case he can claim from his health insurance policy for hospitalisation expenses and then claim under the critical illness policy for compensation
Critical illnesses can occur to young people as well. It often comes in an unexpected manner. In the recent scenario, rising occurrences of diabetes, blood pressure, etc., has been observed in people in the 30's and 40's age group. This means that irrespective of the age group, it is recommended to be covered with critical illness cover.
Bharti AXA offers specialized product only for critical illnesses. You can buy the product as a "stand-alone" cover. It can also act as a supplement to one's existing health insurance cover.
You can choose your sum insurance ranging from Rs. 2 lakh, Rs. 3 lakh and Rs. 5 lakh.
100% of the sum insured would be compensated to the insured if he survives for 30 days after the waiting period of 60 days.
Critical illness is a benefit policy as during any event the insurance company pays the insured a lump sum amount. In case the Insured has contracted any of the defined critical illnesses, the entire sum insured would be provided as a lump sum compensation benefit. Compensation shall be payable if the Insured survives for more than 30 days post diagnosis of any Critical Illness. This benefit is available after a waiting period of 60 days from the date of inception of the Policy in the first year of cover.
Health insurance covers expenses related to treatment and hospitalization, but do not offer protection for other unbillable expenses. Our Health insurance policy provides cashless facility in over 4300+ hospitals and also provides 11 different value-added benefits including a separate and additional sum insured on diagnosis of 20 critical illnesses, hospital cash allowance, recovery grant, nursing allowance etc.
In case you already have a health insurance cover, you can also opt to take a Critical illness policy on a standalone basis. With a critical illness you can be rest assured that your medical expenses are covered and your lifestyle is also protected.
In case you already have an existing health cover, it is imperative that you get yourself adequately protected when there is a major illness. If a major illness occurs, you may not be able to return to work immediately and it may affect your income which in turn would impact your ability to meet your financial liabilities such as loan repayments, fees towards your children's education, expenses towards provisions etc.
Our critical illness policy provides lump sum compensation on diagnosis of any of the 20 covered critical illness (subject to survival and waiting period applicable), which can be used to cover your medical expenses as well as other incidental expenses. Even if you do not have a basic hospitalization policy, you can still opt for a stand-alone critical illness policy.
An Indian resident in the age group of 5 years to 55 years can be covered under the policy.
No medical checkup is required for individual's up to 45 years.
Any condition or disease for which insured person had signs or symptoms and/or was diagnosed and/or received medical advice/treatment within 48 months prior to your first policy with the company.
You can avail up to Rs.15,000 as tax benefit under Section 80 D.
The policy can be issued on a Floater basis covering the family members of the insured comprising the insured, spouse and two dependent children (all members should be within the age group of 5 to 55 years). All members of the family (Self, Spouse, 2 Kids) can be covered under one single policy. Single premium payable for the entire family, No need to insure individual members separately.
The 20 critical illnesses covered are as follows:
- First heart attack
- Coronary artery disease
- Coronary artery bypass surgery
- Heart valve surgery
- Surgery to Aorta
- Kidney failure
- Aplastic anemia
- End Stage lung disease
- End Stage liver failure
- Major burns
- Organ/Bone marrow transplantation
- Multiple sclerosis
- Fulminant hepatitis
- Motor neurone disease
- Primary pulmonary hypertension
- Terminal illness
- Bacterial meningitis
- Any disease / illnesses contracted during the first 60 days of the first year policy (this will not apply for subsequent and regular renewals)
- Any pre-existing diseases / conditions / injuries at the inception of the policy cover. However, the same will be covered after four continuous renewals with us since, the policy cover incepts for the first time
- Treatment traceable to pregnancy or childbirth
Discount equivalent to 5% of renewal premium every year on a progressive scale will be given back to the insured as renewal discount at the time of renewal, This is applicable where the policy which is renewed is claim free in the expiring year. This renewal discount on a progressive scale will be allowed up to a maximum of 25%. In case of renewal of a policy where there is a loss, the insured will lose the entire renewal discount accumulated
For any claims, immediately contact our 24x7 claim assistance service at 080-49123900. The representative would register the claim and assign a reference number which would be used for all future correspondence.