Critical Illness Mediclaim – Part 1

Finding the right policy that covers for the things you want to be covered for…..is hard.

Mediclaim most of the times does not always cover the illness pertaining to major organs of our body. However, we feel that we are fully covered under Mediclaim Policy. It’s a wrong notion…. so, it is necessary to take Critical Illness Mediclaim to protect major organs of our body. Let us understand the different aspects of Critical Illness Mediclaim

What are the main features of Critical Illness Mediclaim?

The Critical Illness Mediclaim covers more than 30 critical illness including, cancer, heart attack, coma, kidney failure, organ transplant etc. It is very much important to opt for Critical Illness Mediclaim as; such kind of ailment are unpredictable.

Daily Allowance: Critical Illness Mediclaim covers the pre and post hospitalization expenses once it is diagnosed. Sometimes it provides a lumpsum amount also.

Free Look Period: In Critical Illness Mediclaim the free-look period starts from the time you receive the policy document. The insurer must give you a window of 15 days to review the policy documents. If you are not happy, you can return them. After ensuring that you are within the 15-day window, the insurer will subsequently deduct costs for insurance cover for that period, stamp duty charges for issuing a policy bond and costs of medical check-ups, if any, and reimburse the difference.

The Critical Illness Mediclaim sum assured amount should be at least 3 times of your annual income. It can give a maximum coverage in lower premium also.

What are the BENEFITS of Critical Illness Mediclaim?

Taking Critical Illness Mediclaim always ensures financial security for your loved ones. It also reduces the expense burden and provide best treatment in best hospitals.

100% Payout benefit is available only if the Policy is in force as on the date of diagnosis of the condition/at the time of accident. In case of Minor, the total payout will be capped at 100% of the Sum Assured. Under the Income Benefit, the Sum Assured must be chosen at inception of the plan.

Second Opinion: Critical Illness Mediclaim also offers to take second opinion at no extra cost especially in the case of a critical ailment.

Tax benefit: The Critical Illness Mediclaim premium is covered under Income Tax Section of 80D. It can give tax benefit up to Rs. 65000/- on the premium paid.

More Than 30 Illness Covered: Full claim payout on the first diagnosis of 34 Critical Illnesses like cancer, heart attack and kidney failure etc…No hospital bills required.

Top up And Super Top Up: In  top-up or super top-up plan, there is a deductible component and a sum insured component. The deductible amount is a pre-defined amount that the client will bear, through his/her own finances or from the base health insurance or any other income source in order to pay for hospitalization. Any amount over and above this deductible amount  – will be borne by the insurer. Higher the deductible amount, lower is the premium for the top-up or super top-up.This feature is very helpful if the patient is hospitalized multiple times in one year. Top up can be don in your base Policy and most importantly it also covers CORONA

PREMIUM CHART: