In today’s world of limitless uncertainties, having just a health cover is insufficient. The frequent lifestyle changes have put us at greater health risks. Cancer, paralysis and stroke, diseases that were relatively rare once, have become fairly common these days. Needless to mention, the hole they dig in our pockets aggravates the situation.
Although, a basic health coverage takes care of the hospitalization expenses associated with such critical illnesses, it is always better to have a lump-sum amount in hand to tackle any unforeseen financial difficulties these ailments carry alongside.
Highlights of the Plan
• 20 critical illnesses covered
• Personal Accident
• Annual Health Checkup
• Second Opinion
• Child Education Cover
• Tax Benefit
Unlike indemnity health cover (which is a reimbursement plan), critical illness cover pays you a lump-sum amount if detected with any of the below specified critical illnesses.
- End Stage Renal Failure
- Multiple Sclerosis
- Benign Brain Tumor
- Motor Neuron Disorder
- End Stage Lung Disease
- Major Organ Transplant
- Heart Valve Replacement
- Coronary Artery Bypass Graft
- Myocardial Infarction
- Major Burns
- Parkinson’s Disease before the age of 50 years
- Alzheimer’s Disease before the age of 50 years
- End Stage Liver Disease
- Bacterial Meningitis
- Aplastic Anemia
Personal Accident Cover:
Apart from covering the above mentioned major critical illnesses, the plan also offers Personal Accident cover that pays a lump-sum amount equal to the Sum Insured in case of accidental death or permanent total disablement of the insured. This proves to be immensely helpful towards the family’s financial well-being in case of any unfortunate event.
Child Education Benefit:
It is every parent’s major concern to secure the future of their children financially. Religare Assure offers an additional lump-sum amount (10% of the Sum Insured) towards the education of your children, in case you suffer from any of the specified critical illnesses or unfortunate accident leading to death or permanent total disablement.
One of the best thing about Religare is that they care about the general well-being of their customers. So, they offer a complimentary Health Checkup once during the policy year. It’s quite comprehensive and definitely deserves a brownie point. Privilege of Second Opinion: If you are suffering from any of the specified critical illnesses and need a second opinion from an expert/doctor, Religare arranges the same for you, as a part of the coverage. And at no extra cost. Surely, a thing to consider!
Under the prevailing laws of the Income Tax Act, 1961 (u/s 80D), you can avail the tax benefit on the premium you pay towards the policy.
While claim process is fairly simple these days, some important points must be considered while claiming for the coverage.
• Unlike the comprehensive health policy, claim under critical illness, accidental death and permanent total disablement are mutually exclusive. The policy will discontinue in case the claim is admissible under any of these benefits with the company.
• Claims would be processed on re-imbursement basis only for critical illness, personal accident and child education benefit. Major Exclusions
Following are the major exclusions in the plan:
• Any pre-existing disease
• Any diagnosis of disease/ undergoing of surgery/ occurrence of event, whose signs or symptoms first occur within 90 days of Policy Period Start Date
• Expenses attributable to self-inflicted injury (resulting from suicide, attempted suicide)
• Expenses arising out of or attributable to alcohol or drug use/ misuse/ abuse
• Medical expenses for treatment of AIDS
• Treatment arising from or traceable to pregnancy, miscarriage, abortion or its consequences
• Congenital disease
• Cosmetic & aesthetic and obesity-related treatment
• Tests and treatment relating to infertility and in-vitro fertilization
• War, riot, strike, nuclear weapons induced hospitalization
Review of Religare Assure – Critical Illness and Personal Accident Cover
If you think that having a health policy is enough, we strongly recommend you to reconsider that. What can be more assuring than a lump-sum cash in hand in trying times? Religare Assure plan not only provides coverage against the specified critical illnesses, but also offers other benefits like Personal Accident Cover. Our opinion: Go for it!