Bajaj Allianz Critical Illness Health Insurance Plan

If you are the sole earner in your family then you should consider buying a health insurance plan that covers life-threatening diseases or critical illnesses can impose a financial burden on your dependent family members if you get diagnosed with a critical illness in future. More and more cases of chronic ailments such as Heart Attack, Cancer, Tumor, Kidney Failure, etc. are being reported every day.  A large number of people die due to cancer every year and the number is only going to increase in the future. The treatment is too costly and for the middle-income group, paying off for such health treatments is quite difficult.

For example- The cost of cancer treatment in India can range easily between Rs. 3 lakhs and Rs. 20 lakhs.  And the cost of chemotherapy can cost 1 lakh for 6 to 7 chemotherapy sessions and radiation treatment. Likewise, coronary angioplasty is also a costly treatment. Just like many other people, if you do not want to deal with the exorbitant medical treatment in India, then it is suggested that you buy Bajaj Critical Illness Insurance Plan and enjoy your peace of mind.

Critical illness is defined as a life-threatening disease or condition under which the insurance company is liable to pay a lump sum amount to the insured person for medical treatment cost, which is much higher than other illnesses. Have a look at the policy benefits details below:

Key Features of Bajaj Allianz Critical Illness Plan 

  • Easy in-house claim process facility
  • 10 major critical illnesses are covered Entry age is from 91 days up to 80 years
  • Easy lifetime renewable process
  • Survival period of 30 days is required
  • Lump sum payment of insured amount
  • Donor expenses incurred on an organ transplant surgery, are covered within India & abroad ( subjected to the sum assured limit)
  • Tax saving benefit under Sec.80/ D of the IT Act
  • Health CDC benefit

Benefits of Buying Bajaj Allianz Critical Illness Insurance Plan

With this plan you can avail the following benefits:

  • The insurer’s claim settlement ratio is quite impressive, therefore, you don’t need to worry about the settlement of your health claim
  • As Bajaj Allianz health insurance records, their average claim settlement duration is only 60 minutes
  • Cashless treatment is available in more than 5700 hospitals across the country
  • Bajaj Critical Illness plan can be purchased online and easily renewable from their website

Illnesses Covered by Bajaj Allianz Critical Illness Plan 

The plan offers for 10 major critical illnesses and the payment is paid in a lump sum:

  • Cancer
  • Major Organ Transplant
  • Stroke
  • Permanent Limb Paralysis
  • Aorta Graft Surgery
  • Multiple Sclerosis
  • Coronary Artery Bypass Surgery
  • First Heart Attack (Myocardial Infarction)
  • Primary Pulmonary Arterial Hypertension
  • Kidney Failure

Sum Assured Options (Rs.)

  • For the age group of 6-60 years, the sum insured range is from Rs. 1 lakh to 50 lakhs
  • For the age group of 61-65 years, the sum insured range is from Rs. 1 lakh to 5 lakhs

Exclusions of Bajaj Allianz Critical Illness Plan

This plan shall not compensate for hospitalization required under the following circumstances:

  • Any acute illness that is diagnosed during the first 90 days from the date of policy purchase
  • Treatment arising due to pregnancy conditions and childbirth
  • Illnesses or injuries arising due to war conditions, nuclear attacks, terrorist activities, rebellion, etc.
  • AIDS/HIV and other sexually transmitted diseases
  • Self-inflicted injuries and conditions of depression and mental disorders
  • Health treatment for drug intoxication and an overdose of alcohol consumption
  • General exclusions - Military or naval operations, any consequential losses, profits or business operations
  • Check policy brochure for detailed exclusions

Pre-Medical Screening Criteria of the Bajaj Allianz Critical Illness Plan

  • Pre-policy medical screening is based on the sum assured amount, age, and any pre-existing illnesses declared on the proposal form
  • All the pre-medical tests will be done at the Bajaj Allianz panel hospitals or registered diagnostic centers
  • The medical test reports will be validated for a month from the date of screening
  • The insurer shall provide 100% compensation for pre-policy medical check-ups in the registered diagnostic centers, it will depend on the acceptance of your proposal and issuance of your policy

Cancellation Process of Bajaj Allianz Critical Illness Plan

You can cancel the policy by giving a 15 days cancellation notice to the Bajaj Allianz health insurance company. If you have not filed any claim during that period, then the insurer shall refund the premium amount on a pro-rata basis for the unexpired policy period.

If no claim has been filed by you, then the insurer shall refund the premium on short term rates as listed in the table below:

Period On Risk  Premium Refund
Up to 30 days 75 percent of the yearly rate
Up to 90 days 50 percent of the yearly rate
Up to 6 months 25 percent of the yearly rate
After 6 months Not applicable

Claim Process of Bajaj Allianz Critical Illness Insurance Plan

The claim procedure for this plan is same as other Bajaj Allianz health insurance plans.  You can easily get in touch with Bajaj Allianz executives and protect yourself and your loved ones against life-threatening or critical illnesses.

Written By: PolicyBazaar - Updated: 28 June 2020
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