Critical Illnesses Covered Under HDFC Term Insurance

Imagine finding that your family members or you are going through a condition of critical illness. Imagine the trauma, the pain, the stress, and the emotional difficulties that accomplish such severe news. Such a case can halt your important life moments. Now just imagine the pressure to pay large amounts for the treatment of critical illness. Fortunately, HDFC Life is one such company that can help you in such critical times.

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With an additional benefits cover of critical illness, you can provide security to yourself and your family.

You can easily opt for a specially designed HDFC term insurance plan that covers the following critical illnesses: 

Critical Illnesses Covered Under HDFC Term Insurance
Cancer of Specified Severity Major Head Trauma
Myocardial Infarction- First heart attack of specified severity  Primary Pulmonary Hypertension 
Open Heart Replacement or Repair of Heart Valves  Third Degree Burns 
Kidney Failure Requiring Regular Dialysis  Alzheimer’s disease 
Major Organ/Bone Marrow Transplant  Aplastic Anaemia 
Coronary Artery Bypass Graft (open keyhole or minimally invasive or Robotic Cardiac, CABG  Medullary Cystic Kidney Disease 
Multiple Sclerosis with persisting symptoms  Parkinson’s disease 
Coma of specified severity  Systemic Lupus Erythematosus, SLE with Lupus Nephritis
Permanent paralysis of Limbs Apallic Syndrome 
Motor Neuron Disease with Permanent Symptoms Brain Surgery 
Benign Brain Tumor  Major Surgery of Aorta 
Blindness  Fulminant Viral Hepatitis 
Deafness  Muscular dystrophy 
End-Stage Lung Failure Cardiomyopathy 
End-Stage Liver Failure  Pneumonectomy
Loss of Speech Poliomyelitis
Loss of Limbs  Progressive Scledoma 
Severe Rheumatoid Arthritis

How Does HDFC Critical Illness Cover Work? 

Under this cover, the policyholder gets a lump sum amount on the diagnosis of a critical illness specified in the plan. As per the T&Cs of the policy, upon detection of critical ailment may either terminate or continue. Hence, it is significant to check the amount of coverage before choosing the rider. HDFC has come up with a unique critical illness rider that involves lifestyle disease also. Apart from this, the policyholder can also opt for the benefit of hospitalization & non-hospitalization costs. 

Benefits of Buying Term Insurance with Critical Illness Rider 

Various individuals opt for a term plan with critical illness cover because of several benefits. Following are the five reasons for buying a term insurance plan with critical illness benefits. 

  1. The Premium Amount Remains the Same 

    Once you have applied for a term plan with critical illness cover, the premium amount remains the same throughout the policy term. This simply means that the premium amount doesn’t increase once you have been diagnosed with a critical ailment. In addition to this, insurers waive off any future premium amount on the diagnosis of a critical ailment. 

  2. Tax Benefits 

    The premium amount paid towards a term insurance plan is entitled to tax benefits u/s 80C of the ITA, 1961. Additionally, the amount paid towards premium amount up to Rs.1.5 Lakhs is deducted from your taxable salary. Moreover, the benefits received from this policy are exempted from u/s 10(10D) of ITA. 

  3. Coverage of Medical Expenditures 

    As we all know health care costs are rising day by day, so it becomes necessary that you are sufficiently covered through an insurance policy to avoid extra expenses. Buying a critical illness rider with your HDFC Term insurance plan helps you cover all the medical-related expenses. Moreover, the lump sum amount offered by the insurance company may be used to cover daily expenditures also. 

  4. Increased Survival Chances 

    Individuals with critical illnesses don’t undergo treatment because of a lack of funds. With no right treatment, the chances of death also increase. So, with the help of an HDFC Critical illness cover, you may get timely funds to undergo the required treatment, thus increasing the probability of survival. 

Five things to know before buying Term Plan Five things to know before buying Term Plan

Points to Keep in Mind While Buying HDFC Critical Illness Cover 

  • If the maximum term of the plan is 30 years then the term coverage continues even after claiming the benefit 

  • Save Taxes u/s 80C and 80D of ITA, 1961

  • The amount of benefit that is paid is equivalent to the critical illness benefit that the life assured has selected

  • The total amount of life covered as chosen in the policy is paid in case of total permanent disability or death of the policyholder. 

  • No minimum survival tenure and the benefit is paid instantly based on the 1st diagnosis of critical illness 

  • The death claim can be settled within 21 days of receiving the receipt of all important documents 

  • A policyholder can easily buy a plan online by paying premiums in installments 

Why Buy Term Life Insurance from Policybazaar Why Buy Term Life Insurance from Policybazaar

Wrapping It Up!

When it comes to life, it is a smart idea to prepare for the worst and hope for the best and you can do this by purchasing a critical illness cover with term insurance for yourself and your loved ones. Remember all the above-mentioned points so that you can make an informed decision.

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