Critical illness—the term itself is intimidating. However, the unfortunate truth of today’s world is that an increasing number of individuals are being diagnosed with life-threatening conditions and are victims of critical illnesses. A critical illness policy is a valuable asset in such serious times.

Cancer, Coronary Artery Bypass Surgery, First Heart Attack (Myocardial Infarction), Kidney Failure, Major Organ Transplant, Stroke, Aorta Graft Surgery, Primary Pulmonary Arterial Hypertension, Multiple Sclerosis with Persisting Symptoms, and Permanent Paralysis of Limbs are some of the critical illnesses. It is well recognized that the pre- and post-hospitalization expenses, as well as the treatment costs of these critical illnesses, can be quite substantial. The financial strain is overwhelming, and an appropriate critical illness insurance policy can alleviate this burden.

This indicates that upon the diagnosis of any of the previously mentioned conditions (according to your policy document), the policyholder receives a one-time payment of the sum insured. This can be utilized for medical treatment and any necessary lifestyle adjustments.

Key Features of Critical Illness Policy

Bajaj Allianz Critical Illness Insurance Policy includes the following features:

• Covers 10 major critical illnesses
• Policy renewal available for a lifetime
• Offers benefits under Section 80D for income tax payments
• Relatively low premium cost
• Quick resolution of claims

Benefits of Critical Illness Policy

In addition to the features mentioned above, there are numerous advantages to acquiring a Critical Illness Policy.

• The policyholder receives the claim amount as a lump sum, ensuring no financial difficulties during treatment.
• Expenses incurred both domestically and internationally are covered.
• Many insurance providers, including ours, offer a grace period during policy renewal.
• The sum insured can be increased during the renewal of the critical illness policy.
• Financial assistance is provided, helping policyholders and their families during challenging times.

Critical Illness Policy Inclusions

Every health insurance provider has specific diseases included under the critical illness insurance policy. Ensure to read the policy document thoroughly and consult with an authorized representative before proceeding with the investment. Many insurance companies now offer complimentary health checkups when you obtain critical illness coverage as well.

Critical Illness Policy Exclusions

• After acquiring the critical illness coverage, if you are diagnosed with any of the covered critical illnesses, the insurance company may not cover you for a designated period, such as a couple of months.
• Individuals infected with the HIV/AIDS virus are not included in the coverage.
• Claims for any cosmetic and dental procedures are excluded.
• Death occurring within one month of purchasing the policy is not compensated.
• Casualties and illnesses resulting from terrorist activities and wars are excluded from this policy.
• Any critical health-related issues arising during pregnancy and childbirth are not included.
• Occupational illnesses are also not covered.

Claim Process

Critical illness insurance is undoubtedly a distinct and advantageous policy among the different forms of health insurance present in the market. It is always preferable to be cautious than to lament afterward. Contact our representatives and protect yourself and your family from critical illnesses.