Critical Illness Policies cover the policyholder from various contingencies like Cancer, Stroke, paralysis, coronary artery bypass, etc. Kidney failure is also among the illnesses covered under a critical illness policy, the treatment of which costs around Rs 20,000 per month in a private set-up. There are very few government hospitals which offer this service.
About 5.4 Lakh people in India are suffering from Kidney failure and an expense of Rs 20,000 per month for a normal middle-class family can dig a hole in their pocket or could even burn their pocket altogether metaphorically.
Listed below are the critical illness policies which cover Kidney failure requiring regular dialysis:
This Critical Illness Insurance Policy offers coverage for 11 Critical Illnesses & Surgeries. This plan pays out a lump sum amount to the insured. The policyholder is not required to undergo any medical check-up for a subscription. This policy also offers a unique opportunity of Free Second Opinion at no extra cost. Under this, the insured can take a second opinion on the illness from a panel of doctors in the US.
Bajaj Allianz Critical Illness policy offers a sum assured up to Rs 50,00,000 for 10 critical illnesses. The pre-medical test would be based on the age of the policyholder, sum insured opted and the adverse health declaration on the proposal form. There can be a loading of minimum 10% to a maximum 150% on the standard premium rates depending upon the health status of the insured and declarations on the proposal form.
This plan comes in both individual and family floater options with a guaranteed cash benefit. There is also an option of two-year policy and discounts as well. In addition, on the renewal of the policy, the sum assured will be increased by 5% for every claim free year. This bonus is up to 25% of the Sum Insured. This policy covers 20 critical illnesses.
This policy covers 20 critical illnesses with no medical check-up, up to 45 years of age. There is an option to either get your hospital expenses for the treatment reimbursed or get a payment of the compensation on the diagnosis of critical illness. Apart from this, this policy provides additional benefits like income tax benefits and renewal discounts.
This plan provides a lump sum benefit amount after survival of 30 days. It covers 8 critical illnesses and offers an option of one or two-year policy coverage period. With lifelong renewability, this policy pays the lump sum amount on the first diagnosis of any of the critical illnesses which are covered. There may be a pre-policy check depending on the age and sum insured.
There are certain points which one must consider while purchasing a critical illness policy:
Examine whether the premiums are reviewed periodically. Check the survival and waiting period as well.
Keep these few points in mind and you will surely be able to get a fruitful Critical Illness Policy. Moreover, don’t forget to reveal all material facts to the insurance company as not doing so may result in the cancellation of the existing base policy.
|Attributes||TATA AIG - CritiCare||Bajaj Allianz - Critical Illness||Max Bupa - Health Assurance||Bharti AXA - Critical Illness Insurance||HDFC Ergo - Critical Illness|
|Minimum Age||18 years||For Proposer- 18 years For Dependent Children- 6 years||18 years||3 months||5 years|
|Maximum Age||60 years||For Proposer- 65 years For Dependent Children- 21||65 years||55 years||45 years|
|Sum Assured||Rs 2,50,000 to Rs 15,00,000||Rs 10,00,000 to Rs 50,00,000||Rs 3,00,000 to Rs 10,00,000||Rs 2,00,000 to Rs 5,00,000||Rs 5,00,000 to Rs 10,00,000|
|Waiting Period||90 days||90 days||90 days||60 days||90 days|
|Survival Period||30 days||30 days||30 days||30 days||30 days|
|General Critical Illnesses Covered||- Open Chest CABG- Stroke - Cancer- Cancer- Kidney Failure- Major Organ Transplant- First Heart Attack- Multiple Sclerosis|
|Plan Specific Critical illnesses Covered|
|Primary Pulmonary Arterial Hypertension||✔||✔||✔|
|Open Heart replacement||✔||✔||✔|
|Heart Attack (Myocardial Infarction)||✔|
|Coronary Artery bypass surgery||✔||✔|
|Motor Neurone Disease||✔||✔||✔|
|End Stage Lung Disease||✔||✔||✔|
|End Stage Liver Failure||✔||✔||✔|
Disclaimer: The ranking of the insurance companies in this content is not in any particular order. The list is not complied as per the IRDA ranking.
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