What is covered?
Criti-Care is a benefit policy which covers 43 critical illnesses. A lump sum amount would be paid on diagnosis of the listed critical illnesses subject to the policy terms and conditions. This policy allows the customers to choose coverage from any or all of the 5 sections under the policy – Cancer Care, Cardiovascular Care, Kidney Care, Neuro Care, Transplants Care and Sensory Organ Care. Each section has a specific list of ailments bifurcated as ‘Category A’ which comprises initial stage ailments and ‘Category B’ for advanced stage ailments.
What are the key benefits?
Criti-Care is an individual critical illness policy that allows customers to design their coverage by selecting any or all 5 sections within the policy, waiting period as well as survival period. The customer can also avail additional benefits which are in-built in the policy up to the defined limit. These benefits include Cancer Reconstructive Surgery, Cardiac Nursing, Dialysis Care, Physiotherapy Care and Sensory Care.
What is not covered?
Any critical illness or its signs and symptoms diagnosed within the first 180/120 days as mentioned in the policy schedule of the date of commencement of the First Policy is excluded. Some of the other exclusions under this policy include self-inflicted injuries, suicide attempt, insanity, and deliberate participation of the insured in an illegal or criminal act with criminal intent, etc.
What is the Sum Insured & Price Range?
The sum insured under each section ranges from Rs. 1 lakh to Rs. 50 lakh. The maximum total Sum Insured of the policy is Rs. 2 crore. The premium of this policy varies depending on the Member Age, Sum Insured opted, Critical Illness ‘Section’ opted, Waiting Period and Survival Period.
Describe the USP of the product in a line?
Criti-Care is a modular product that allows customers to design their policy, based on their requirements and covers both initial and advanced stages of illness as defined in the policy.
Renewal benefits?
Lifetime renewal is applicable under Criti-Care policy. We also offer 5 percent wellness discount on renewal.
Where to purchase the product from? What are the formalities involved?
This policy is available across all channels and the customer needs to fill a proposal form while purchasing the policy that helps with the underwriting process.
Which demographic customer segment is the company targeting?
This policy is designed to suit all age groups and all customer segments due to its modular nature. Critical illness can be diagnosed at any age across all genders and socio-economic strata; hence it is very important to be secure and financially ready in case of a medical exigency.
OUR TAKE
In our conversation with TA Ramalingam, Chief Technical Officer, Bajaj Allianz General Insurance, he said that in normal indemnity policies, be it a Mediclaim or a Healthguard, which covers hospitalisation, people know about it and purchase it. But increasingly, incidents related to cardiovascular diseases, kidney and cancer are actually on the rise and people realise that this can cause a dent into their financial savings. And that is something this policy is trying to cover where we are saying that in case of a particular event, be it a cancer or a cardiovascular disease, heart attack or a kidney failure, you will get a lumpsum amount which will take care of all your expenses.
“With data showing sudden onset of illnesses like cancer, this policy will give you a lumpsum amount so that you don’t have to dip into your financial resources and break your fixed deposit, so we felt it was very much required in today’s world,” he added.
For an individual who has a family history of a pre-existing diseases, the choice is given to the customer to customise the policy based on his requirement among the five aspects in the cover- Cancer Reconstructive Surgery, Cardiac Nursing, Dialysis Care, Physiotherapy Care and Sensory Care.
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