As there is a constant increase in the cost of treatment in case of any illness, every individual should buy a health insurance plan for his family. But a normal health insurance plan has some limitations too. Like in the case of some critical illnesses, an insurance plan which is designed exclusively for critical illnesses is needed. These health insurance plans cover all aspects related to a life-threatening illness.
Is My Regular Health Insurance Plan not Just Enough to Cover Critical Illnesses?
You might already have a health insurance plan like family floater health insurance, but is it sufficient? In case you suffer a critical illness, will your existing plan cover the cost of treatment for that too? Have you ever planned an exclusive insurance plan for critical illness?
The treatment of critical illnesses is long, extensive, and so expensive. In the case of these critical diseases, the normal insurance cover gets exhausted very soon. Also, the treatment and the medical tests are heavy on the pocket. Continuous follow-ups and medical checkups are required, which consumes a lot of money.
What is a Critical Illness Insurance Plan?
There are a few diseases which are considered life-threatening. These critical illnesses need extensive and long-term treatment. The diagnostic tests for these illnesses are also very expensive and are repeated often. Thus a critical illness takes a real toll on all aspects of an individual, including mental, physical, social and above all, financial. A health insurance plan is made exclusively to meet all these needs and is known as a critical illness insurance plan.
Read more - Homework to Do Before Choosing the Best Critical Illness Insurance Plan
Why is a Critical Illness Health Insurance Plan Important?
No one wants to get caught by any critical disease, but in case of any such illness, would you like to spend your time and energy fighting the disease or arranging the finances? Here comes the role of a good critical illness health insurance plan. It covers your expenses for treatment, and you can focus on your health and family.
Is Critical Illness Covered in a Life Insurance Plan?
Typically, critical illnesses are provided as an optional cover to the usual health insurance policy. As critical illness takes a real toll on the finances, it is advised to buy an exclusive critical illness health insurance plan for the insurer’s safety.
What is the Critical Illness Insurance Plan by Bajaj Allianz?
The critical illness insurance plan by Bajaj Allianz health insurance is a cashless health insurance plan that offers exclusive coverage for most critical illnesses.
What Critical Illnesses are Covered in the Critical Illness Insurance Plan by Bajaj Allianz?
Bajaj Allianz health insurance critical illness plan offers comprehensive insurance coverage for about 10 types of major critical illnesses. These are-
- Organ Transplant (Major organs)
- Cancer & malignancies
- Multiple Sclerosis
- Stroke
- Kidney Failure
- Permanent Limb Paralysis
- Coronary Artery Bypass Surgery (CABG surgery)
- Aorta Graft Surgery
- First Myocardial Infarction (Heart Attack)
- Primary Pulmonary Arterial Hypertension
Key Features of the Bajaj Allianz Critical Illness Insurance Plan
- Covers most common major critical illnesses.
- Easy to buy- This exclusive plan is available online for both buying and health insurance renewal.
- The cashless treatment under this insurance plan is available in more than 8,000 hospitals across India. These cashless network hospitals provide high-class private treatment for certain critical illnesses.
- The claim settlement ratio is better. Thus it is a better health insurance plan.
Why Choose the Bajaj Allianz Critical Illness Insurance Plan?
Bajaj Allianz's critical illness insurance plan has these impressive features, which make it a better plan for critical illnesses.
- The entire family is covered, and even children above the age of 6 years are included.
- As per the age, two types of sum insured options are given
For the age bracket of 6 yrs - 60 yrs, the sum insured is 1 lakh to 50 lakhs
For the age bracket of 61 yrs - 65 yrs, the sum insured is 1 lakh to 5 lakhs
- It comes under section 80 D of the Income Tax Act.
- In the case of organ transplant, the expenses of the donor of the organ transplant surgery are covered within India and abroad also.
- Cancellation of a critical insurance policy by bajaj Allianz is also possible as per the cancellation criteria.
- You can get competitive premium rates if you increase the sum insured at the time of your policy renewal. You can use a health insurance premium calculator to calculate your premium.
- The claim process is fast, and the claim support of Bajaj Allianz is considered one of the fastest health insurance claim settlement companies.
What are the Common Exclusions of the Bajaj Allianz Critical Illness Insurance Plan?
Like any other insurance policy, this insurance plan has some exclusions too. They are listed below:
- HIV/ AIDS and other STDs (Sexually Transmitted Diseases).
- Mental disorders, depression, treatment for self-intoxication and overdose of alcohol consumption.
- Acute illnesses that occur within 90 days of inception of the policy.
- Treatment needs arise due to pregnancy and childbirth.
- Exclusions in general- Military and naval operations, any type of business operations, etc.
- Illnesses related to war conditions, terrorist and nuclear activities, etc.
- The policy brochure explains the exclusions in detail.
Criteria for Pre-medical Screening of Bajaj Allianz Critical Illness Insurance Plan
- A detailed medical history explaining all the existing illnesses and health conditions as declared on the proposal form
- Age of the insured
- Sum insured
- All pre-medical tests are to be done exclusively at the panel hospital of Bajaj Allianz or recognised diagnostic centres.
- Calculating from the date of screening, the medical test reports are valid for one month.
- Full compensation for the pre-medical screening is to be provided by the insurer. The rest of the process depends upon the acceptance and approval of your policy proposal.
To Summarise- The Critical Illness Health Insurance Plan by Bajaj Allianz
- Special cover against major critical illnesses
- The premium rates are competitive with other health insurance plans
- The whole family is covered, including kids above 6 yrs of age
- Online options are available for buying insurance as well as for insurance renewal
- Cancellation of the policy is possible with some criteria
- Authorised cashless hospitals are all over India
- The claim settlement ratio is impressive
These features make the critical illness health insurance plan by Bajaj Allianz good protection against the majority of critical illnesses.
Read more - Diseases that Bajaj Allianz Health Insurance Plans Cover
