Women Specific Critical Illness Plan: Features, Benefits, Review

If we can earmark a particular day to celebrate womanhood, shouldn’t we have a woman-specific health insurance plan too?

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Our society has molded gender roles in such a manner that women end up tossing between family and profession. While there’s no denying that women have done a great job at multi-tasking, there are still aspects that get overlooked in the whole balancing act. One of them is, health.

Women commonly face the risk associated with pregnancy, childbirth and malnutrition. Yet, statistics suggest that the number of women actually insuring their health are very low in comparison to the number of men. Moreover, only a handful of women take independent policies. But what if there was a critical illness plan specifically for women?

Bajaj Allianz General Insurance echoes this sentiment and has developed a specific critical illness policy that solely covers illnesses common among women. Here’s all you need to know about the policy.

Bajaj Allianz Women Specific Critical Illness Plan

This policy pays a lump sum amount equivalent to the amount of Sum Assured chosen, if the insured woman is diagnosed with any of the 8 specified critical illnesses during the tenure of the policy.

Coverage under the Plan

Bajaj Allianz Women Specific Critical Illness Plan provides for 8 types of critical illnesses:

1) Breast Cancer

2) Cervical Cancer

3) Burns

4) Paralysis or Multi-trauma

5) Fallopian Tube Cancer

6) Uterine or Endometrial Cancer

7) Vaginal Cancer

8) Ovarian Cancer

Additional Coverage

What makes the plan unique is that it has certain inbuilt benefits other than the coverage against the specified critical illnesses. Moreover, no additional premium is required to be paid. The benefits included in the cover are:

• Congenital Disability Benefit –

Bearing a child is the most important milestone in a woman’s life and if the child has any congenital disability, the mother suffers the most. The plan lists some common congenital disabilities that a new-born baby might suffer. If the baby suffers from any of the prescribed disabilities, the plan pays 50% of the Sum Assured to the mother. The disabilities covered include:

a) Down’s Syndrome

b) Congenital Cyanotic Heart Disease

c) Trachea-esophageal Fistula

d) Cleft Palate with or without cleft lip

e) Spina Bifida

This benefit is available for the first two children and only if the children are born before the woman attains 40 years of age

• Children’s Education Bonus –

On being diagnosed with a critical illness which is covered by the plan, Bajaj Allianz pays an amount equal to Rs. 25, 000 towards the education of the children. This is in addition to the Sum Assured paid on diagnosis of the illness.

• Loss of Job –

To overcome a situation in which job has been lost on account of a critical illness, Bajaj Allianz pays Rs. 25, 000 if the job is lost within 3 months of being diagnosed with the critical illness. However, a voluntary resignation will not be considered for this benefit.

Other features

• Women between 21 years and 65 years can buy the plan. It is renewable lifelong.

• There are four options of Sum Insured to choose from: Rs. 50,000, Rs. 1 lakh, Rs. 1.5 lakhs and Rs. 2 lakhs.

• A pre-entrance medical check-up will be required if you are aged 41 years or above. The tests will include Full Medical Report, USG of the abdomen and pelvis and PAP Smear Test.

Sample Rates of Premium

In the table below, we have summarized the premium rates at different ages for a coverage amount of Rs. 50,000 and Rs. 1lakh. Service tax is charged extra.

Women Specific Critical Illness Plan by Bajaj Allianz

  • Subject to terms & conditions as specified under the policy

It’s Time to Make a Choice

Considering the premiums, one can say that the asking rate is extremely low against the coverage being provided. There is nothing wrong in putting family before self, but it is time that you did something for your health and well-being. Given the fact that critical illnesses like breast cancer and cervical cancer are affecting more women than before, it is best to be at least financially covered. You, in your multiple roles, are equally important to your family as your family is important to you. And if you are a caring husband or father, insure your wife or daughter to give her that financial cushion in the face of a medical crisis.

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Aniket Thakkar
Written by Aniket Thakkar
He lives off TV shows, movies, junk food, comics and sarcasm. When he is not working as a freelance imaginary friend to other beings like him, he works as VP of Marketing at Coverfox.

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