• Chola MS Critical Healthline Insurance

    Health Insurance
    • Enjoy options to cover yourself, your spouse, kids and even your parents
    • Enjoy access to 10,000+ hospitals for cashless treatment
    • Reduce your taxable income by up to Rs. 50,000 deduction under section 80D**

    A critical illness could hit hard on the pocket for an individual due to hospitalisation and other expenses. Also, treatment for such illnesses might require the person to absent himself/herself from work. The Critical Healthline Insurance is a health insurance cover that provides a lump sum benefit if the insured individual is diagnosed with one of the critical illnesses mentioned in the policy. The plan also includes coverage for hospitalisation for regular illnesses as well. However, it is best to purchase the Critical Healthline Insurance plan along with a basic health insurance plan to enjoy complete protection for one’s health.

    Eligibility for Chola MS Critical Healthline Insurance

    The insurer lays down certain eligibility criteria which should be met in order to purchase the policy. The eligibility criteria are as follows:

    • The minimum age limit for this policy is 5 years
    • An individual above 65 years of age cannot purchase this policy.
    • The policy can be bought for the policyholder himself/herself, his/her spouse, and his/her dependent children.
    • The plan has a lifetime renewability feature.

    Features of Chola MS Critical Healthline Insurance

    The key features of the health insurance plan are listed below:

    • The sum insured options available under the policy are – Rs.3 lakh, Rs.5 lakh, and Rs.10 lakh.
    • The plan offers two options as mentioned below:
    • Standard Plan: Provides coverage for 10 critical illnesses
    • Advanced Plan: Provides coverage for 12 critical illnesses and also provides ambulance charges up to Rs.1,000.
    • The critical illnesses covered under the policy are:
    • Cancer of named severity
    • Primary Pulmonary Arterial Hypertension
    • Stroke resulting in permanent neurological damage
    • Surgery of Aorta
    • First heart attack of named severity
    • Permanent paralysis of limbs
    • Open Chest CABG (Coronary arteries with bypass grafts)
    • Transplant of bone marrow or a major organ
    • Multiple Sclerosis with recurring symptoms
    • Kidney Failure that requires regular dialysis
    • The two critical illnesses that are covered only under the Advanced Plan are:
    • Motor Neuron Disease with permanent symptoms
    • Parkinson’s Disease
    • Health check-ups are not required for individuals who wish to purchase a policy under this plan. However, persons above the age of 55 years are required to undergo a medical test. 50% of the expenses incurred on the same is returned after the policy is issued.
    • The waiting period to make claims under the policy is 90 days. Renewal policies do not have a waiting period.
    • After expiry of the policy, a grace period of 30 days is given to the policyholder to renew the policy.
    • A free-look period of 15 days is provided to the life insured to review the terms and conditions of the policy. If unhappy with the policy, he/she can return it and the insurer will refund the premiums paid after deduction of expenses incurred on stamp duty, medical tests, and premium for the period covered by the policy.
    • The policy can be cancelled by the policyholder by sending a written notification to the insurer. A 15-day notice is required to cancel a policy.
    • The policyholder has the option to port the policy to another Indian insurer as long as the type of cover is similar. The insured individual can continue to enjoy the benefits of such covers as per the norms of the IRDAI.
    • Under section 80D of the Income Tax Act, 1961, the premiums paid towards the policy can be claimed. The maximum cap for the same is Rs.25,000.

    Benefits of Chola MS Critical Healthline Insurance

    Given below are the benefits offered by the plan:

    Benefits Details
    Critical Illness Benefit On diagnosis of any of the critical illnesses mentioned earlier, the policyholder will receive a lump sum benefit which is equal to the sum insured chosen by him/her.
    Ambulance charges An amount up to Rs.1,000 is offered as ambulance coverage if the policyholder has opted for the Advanced option under the plan.

    Exclusions of Chola MS Critical Healthline Insurance

    The health cover lists certain exclusions from the policy. The major exclusions that apply to the policy are:

    • A critical illness diagnosed within the first 90 days of the policy. The exclusion does not apply to renewed policies.
    • A critical illness that has been caused by a pre-existing disease.
    • A sexually transmitted disease.
    • Treatments related to pregnancy, childbirth or complications related to such conditions.
    • Occupational diseases.
    • Treatments for illnesses caused by war, war-like situations, commotion, destruction by government authorities, military or naval operations, or acts of God.
    • Radioactive contamination.
    • Financial loss caused by business interruption, loss of profit, etc.
    • Injuries caused by drugs, alcohol, or self-injury.

    Claim Procedure

    The insurer mentions the procedure for making a claim under the policy as mentioned below:

    • On diagnosis of the critical illness, the insurer has to be notified by mail or through their toll-free number.
    • A certain survival period will be mentioned for each of the critical illnesses. After completion of the survival period, a duly-filled claim form and the proof of diagnosis needs to be submitted.
    • If the claim is admissible, the insurer will send a cheque for an amount equal to the sum insured chosen.
    • After payment of the lump sum benefit, the policy will be terminated.
    • Upon the demise of the insured person, the premium for the unexpired period is refunded, provided no claim is made.

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