Retail Critical Illness
Lump-sum pay-out upon diagnosis of specified serious illnesses like cancer, heart attack, stroke, and kidney failure.
Retail Critical Illness
Retail Critical Illness provides a lump-sum pay-out upon diagnosis of specified serious illnesses, helping cover treatment costs and non-medical expenses without worrying about cash flow. The main feature of Retail critical illness includes a one-time or staged benefit on diagnosis of covered conditions.
Conditions Covered
Cancer
Financial support on diagnosis of specified cancer conditions as per policy terms.
Heart attack
Lump-sum benefit upon diagnosis of heart attack meeting defined criteria.
Stroke
Coverage for stroke and related critical neurological conditions.
Kidney failure and more
Cover for kidney failure and other specified critical illnesses as per the policy.
Plans
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Your Questions,
Answered
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What is Retail Critical Illness Insurance?
Retail critical illness insurance is a policy that offers a fixed lump sum benefit upon diagnosis of specified serious illnesses covered under the plan.
How does a critical illness policy operate?
Upon diagnosis of a covered illness and fulfillment of policy conditions, the insurer pays a predetermined lump sum amount, irrespective of actual treatment costs.
Which illnesses are usually covered?
Coverage typically includes major illnesses such as cancer, heart attack, stroke, kidney failure, and organ transplants, as defined in the policy terms.
Can the claim amount be used for non-medical expenses?
Yes, the benefit amount can be used at the policyholder's discretion, including medical treatment, recovery expenses, loan repayments, or daily living costs.
Is critical illness insurance a substitute for health insurance?
No, it is designed to complement regular health insurance by providing additional financial support during serious illnesses.
What is meant by the survival period?
The survival period is the minimum duration the insured must survive after diagnosis to qualify for the claim payout.
Are pre-existing illnesses covered under this policy?
Yes, but only after completion of the specified waiting period, as outlined in the policy.
What factors affect the premium of this policy?
Premium is based on factors such as age, medical history, lifestyle, sum insured, and the number of illnesses covered.
What are the common exclusions under this policy?
Typical exclusions include illnesses diagnosed during the waiting period, pre-existing conditions (until waiting period is completed), self-inflicted injuries, and conditions not listed in the policy.
What documents are required to file a claim?
Generally required documents include the policy document, medical diagnosis reports, hospital records, identity proof, and a duly filled claim form.