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Critical Illness Insurance Premium

The present day hectic and sedentary lifestyle has substantially increased the risks of us falling prey to lifestyle diseases. According to studies by various domestic and global organizations, the present lifestyle can lead to cardiovascular diseases, cancer and kidney ailments in people as young as 35. If not treated in time, these critical ailments can even lead to a premature death.

While sticking to a healthy diet and following a good fitness regime can play an important role in keeping ailments at bay, there can be hereditary and even environmental reasons due to which one is at a threat of getting a lifestyle disease. Treatments of these diseases, if done without any Health Insurance Policy can prove to be really expensive and wipe out your life savings. This is where a good Health Insurance Plan with a Critical Illness Cover can play a vital role.

There are several factors that affect the choice of a Health Insurance Policy and the Premium to be paid is one of them. Here you will get all the information regarding the Insurance Premium for a Critical Illness Cover and the factors that determine the amount.

Factors that Influence Critical Illness Insurance Premium -

An Insurance Premium is a pre-determined amount which is to be paid at the onset of getting the policy and also at periodic intervals towards renewal of the policy. There are several factors that determine the total amount that is to be paid as an Insurance Premium. Here are more details about these factors:

  • Pre-Existing Medical Conditions: When you first opt to get a Critical Illness Cover, you will have to undergo a medical check-up which will check for any Pre-Existing Medical Conditions that you may have. The Cover will not bear the costs associated with Pre-Existing Medical Conditions unless otherwise specified. If you do need these conditions covered, you may have to pay an addition Premium.
  • Body Mass Index (BMI): Medical Studies prove that people with a higher BMI are more susceptible to Critical Ailments. This means that if you have a high BMI, your Insurance Premium will be higher as well.
  • Family Medical History: If your family has a history of certain medical ailments, your premium for the Critical Illness Insurance maybe higher. For instance, if your parents have a history of cardiovascular ailments or cancer, then it genetically puts you at risk of these diseases and will increase your premium amount.
  • Injurious Substances: Your Insurance Premium will increase if you have a habit of chewing or snuffing or smoking tobacco. People who consume tobacco in any form are known to be more susceptible to getting critical ailments such as cancer which can even be life threatening. And this directly affects your Insurance Premium rates.
  • Age: Generally, when you are young, there is a much lower risk of you having any critical ailment. This means that your Insurance Premium will be lower when you are young and can increase as you grow older.
  • Choice of Profession and Work Environment: People having professions that involve a good amount of physical activity will have to pay a lower Insurance Premium for Critical Illness Cover as compared to those having a sedentary lifestyle. Similarly, people working in hazardous environments or those in contact with hazardous substances, chemicals or radiation will have to pay a higher premium as compared to those working in cleaner environments.
  • First Insurance Policy: If you are getting your first Health Insurance Policy, chances are that your Insurance Premium will be higher. If you have a Health Plan and are renewing it, you may be eligible for a No-Claim Bonus if you have not raised any claims during the stipulated insurance period.

While the above factors play an important role in determining the premium, choosing the right Insurance Partner is also important. Bharti AXA offers affordable Health Insurance Premiums and a lot of other features that can prove to be very useful. Read on to know more:

Benefits of Bharti AXA Critical Illness Cover:

Dedicated Claim Assistance Desk

We have a Customer Service Cell which is available 7 days a week, 24 hours a day to help you with all your insurance related queries. Our team of experienced insurance professionals will also help to resolve your claims faster.

Wide Network of 79 Branches and 4300+ Partner Hospitals PAN India

Bharti AXA has a wide network of 79 branches across India. Moreover, we have partnered with more than 4,300 hospitals for Cashless Insurance Claim Settlement.

Proven Track Record

Till date, we have sold millions of policies to customers all over the country. In addition to that, we have streamlined our claim process and our dedicated handlers have ensured an impressive 98.27% claim settlement ratio.

Life maybe uncertain but you can  take precautions to be better prepared for any eventuality. A Critical Insurance Plan is one of those measures that can help in times of an emergency due to a serious ailment. To know more, contact a Bharti AXA representative today!

References:

https://www.bharti-axagi.co.in/critical-illness-insurance

http://www.criticalillness.org.uk/save-on-critical-illness-insurance-premiums.html

https://www.bankbazaar.com/health-insurance/top-10-factors-affecting-health-insurance-premium.html

https://economictimes.indiatimes.com/tdmc/your-money/all-about-critical-illness-plans-and-how-to-choose-one/tomorrowmakersshow/51810014.cms

What is the claim process?

Being diagnosed with a Critical Illness such as Cardiovascular problems, Cancer, or others can be a cause of serious concern. These ailments have grave implications and can even be life threatening. Not only do they affect a person mentally and physically, they also have major financial implications and can wipe out your life savings. Having a Critical Illness Insurance Policy at this stage can prove to be important. This policy can be taken as a standalone or as an Add-On Cover for your Health Insurance Policy.

Diseases Covered by the Bharti AXA Critical Illness Insurance Plan:

The policy covers 20 Critical Illnesses:

  • Stroke
  • Heart Valve Surgery
  • Kidney Failure
  • Surgery to Aorta
  • Aplastic Anaemia
  • End Stage Liver Failure
  • End Stage Lung Disease
  • Major Burns
  • Coma
  • Major Organ/Bone Marrow Transplantation
  • Fulminant Hepatitis
  • Multiple Sclerosis
  • Motor Neurone Disease
  • Terminal Illness
  • Primary Pulmonary Hypertension
  • Bacterial Meningitis
  • First Heart Attack
  • Cancer
  • Coronary Artery bypass surgery
  • Coronary Artery Disease
Important Aspects of Critical Illness Insurance:

Critical Illness Cover can either be obtained as a standalone Insurance Policy or an Add-On Cover to your existing Health Insurance Plan. You can select from either of the above options depending upon your requirements. Also, some health plans come with an in-built Critical Illness Cover up to a certain percentage of the total sum insured. The eligibility age for getting a Critical Illness Policy is between 8 years to 70 years. Lastly, your premiums for a Critical Illness Insurance are exempt from Income Tax under section 80D of the Income Tax Act.

Registering a Claim for Critical Illness:

To register a claim under your Critical Illness Insurance Plan, you can either contact the dedicated Customer Service Call Centre which is available 24 hours a day, 7 days a week or walk in to any of our 79 Bharti AXA branches across the country. As Critical Illness is a Benefit Plan, claims for the same should be submitted post 30 days of survival. To register a claim, you will have to submit:

  1. A filled and duly signed claim form with the statement of the consulting doctor. (You can download this form from our official website or obtain the same from any Bharti AXA branch).
  2. Photocopies of the final bill & the discharge summary and the photocopies of the diagnosis report, which confirms the Critical Illness.
  3. A Medical Certificate stating the details of the Critical Illness, the treatment administered and the current fitness level.

In case of cashless claims for Critical Illness, Bharti AXA  pays the amount directly to the hospital. In case of reimbursements, Bharti AXA directly transfers to your bank account or pays via cheque.

Benefits of Bharti AXA Critical Illness Insurance:

With millions of Insurance Plans sold and multiple awards in recognition of excellent performance, Bharti AXA is an Insurance Company with a proven track record. What’s more, our dedicated Customer Service Centre and 70+ branches across the country make us very reachable in times of emergencies. Add to this a network of more than 4,300 partner hospitals which resolve Insurance Claims in a Cashless manner and you have a reliable Insurance Partner for your Critical Illness Plan.

Are any discounts offered on renewal with Bharti AXA?

Critical Illnesses today are known to be a major cause of concern in India. A clear majority of men and women aged above 40 are suffering from a major critical illness such as Heart Problems, Kidney Failure, Cancer, Stroke and other severe ailments. Every year heart problems claim hundreds of lives and treatment for Cancer becomes more expensive. With treatment costs going up to Rs. 20 lakhs per year for some cases, according to an ET article, if you are not covered by a good Health Insurance Policy that also covers Critical Illnesses, the financial strain will be intensive on your loved ones.

A good Critical Illness Insurance Plan can meet all expenses that you may incur for treatment, operation or transplant. Here is a detailed overview of Critical Illnesses and the Insurance Cover associated with them.

A Critical Illness is one that can prove to be life-threatening and have many other serious consequences. For instance, Cancer, Kidney Failure, Cardiovascular Problems, Stroke are all Critical Illnesses.

While a Health Insurance Plan does cover these ailments, the total Insurance Coverage may not be enough. This is where a standalone Critical Illness Policy or an Add-On Cover meant specifically for treatment of Critical Illness comes into play. A standalone plan or an Add-On will let you avail a larger coverage for treatment of a Critical Illness. It covers end-to-end costs of diagnosis, doctor’s fees, medicines and several other expenses incurred before and after hospitalization. This will protect your Health Insurance Plan and prevent your life savings from being wiped out to meet treatment expenses.

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