- About Coverfox
Formerly known as Birla Sun Life Insurance Company Limited, Aditya Birla Sun Life Insurance Company Limited is (ABSLI) is a subsidiary of Aditya Birla Capital Ltd (ABCL). It is one of the leading private sector life insurance companies in India. The insurer offers a wide range of products such as children future plans, wealth protection plans, retirement and pension solutions, health plans, traditional term plans and Unit Linked Insurance Plans.
Note:All information has been sourced from the official website of Aditya Birla Sun Life Insurance Company Limited.
Aditya Birla Sun Life Insurance Cancer Shield Plan is a traditional non - participatinghealth insurance planwhich offers coverage against all stages of cancer with an option to receive monthly income for 5 policy years on the diagnosis of a major stage of cancer.
The Key Features and Benefits of This Plan Are:
|Tax Benefits||As per Section 80D of the Income Tax Act, 1961|
|Reimbursement||This is a fixed benefit payout plan|
|Pre-existing Disease||None, this plan is a cancer-specific plan|
|Coverage||All stages of cancer|
|Waiting Period||A waiting period of 180 days from the policy commencement date or from the date of reinstatement of the policy is applicable for all benefits payable under this coverage|
|Survival Period||There is no restriction of survival period after the date of diagnosis of cancer for the benefit to be paid|
|Maturity Benefit||There is no maturity benefit payable under this plan|
|Death Benefit||There is no death benefit payable under this plan|
|Surrender Benefit||There is no surrender benefit available under this plan|
Premium Waiver Benefit- In case of a claim upon detection of an early stage of cancer, all future premium payments for the policy will be waived for lower of 5 years or remaining policy term, starting from the next premium due date following the date of diagnosis of an early-stage cancer.
Income Benefit Option- under this option, monthly income equivalent to 1% of the Sum Assured on Illness would be paid out once a claim for Major Stage Cancer has been admitted. This monthly income benefit will be payable for a fixed period of next 5 years, the payout will continue even after the completion of the policy term. In case of death of the policyholder, the nominee will receive the payout.
Premium Guarantee- Under this option, the premium rates are guaranteed for the period of five years from the commencement of the policy.
The inclusions under this plan are all stages of cancer.
The exclusions under this plan are:
The plan will terminate at the earliest of the following:
In case of a claim, you need to intimate ABSLI immediately via online or email (firstname.lastname@example.org) or phone (1800 270 7000). You can also visit the branch physically. Post intimation, you need to submit the claim form and the relevant documents. The claims team will scrutinize each claim document in detail. Post verification, the payment is directly made to the policyholder or beneficiary.
The standard list of documents required for submission are: