Bajaj Allianz General Insurance on Tuesday launched Criti-Care, a new critical illness policy. Under the new cover, customers will have the freedom to design their own coverage by selecting "any or all five sections under the policy," waiting and survival period.
It covers 43 critical illnesses, which include both initial and advanced stages as mentioned in the policy.
Under the policy, a lump sum amount will be paid to the beneficiary if he/she is diagnosed with a listed ailment.
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 five sections under the policy are - 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. If the claim falls under category A, the customer is eligible for 25 per cent of the sum insured of that section, and for a claim under category B, 100 per cent sum insured of the section is payable.
The customer can choose a waiting period of either 120 days or 180 days along with the survival period post-diagnosis of zero-days, seven days, or 15 days. This policy is available on an individual basis and can be taken for a period of one, two, and three years.
The entry age for adults is 18 - 65 years and for children, it is three months to 30 years. There is no exit age under Criti-Care and the renewal is applicable for a lifetime. Self, spouse, dependent children and grandchildren, parents and parents-in-law, sister, brother, aunt, uncle can be covered under the policy. The premium of this policy can be paid in installments and discounts for wellness, long-term, online purchase are applicable as defined in the policy.
