It is always advisable to get an added level of protection when it comes to critical illnesses. Not only does it act as a tax benefit, these plans give you a large cover along with a host of other benefits. The Edelweiss Tokio Life CritiCare+ keeps you protected against 17 major critical illnesses. Once a critical ailment is diagnosed, policyholders become eligible for huge benefits and can make as many as 3 claims during the term of the policy.
You have to meet the following conditions to be eligible for the Edelweiss Tokio Life CritiCare+ health insurance plan:
|Minimum age at entry||18 years|
|Maximum age at entry||65 years|
|Age at maturity||70 years|
Policyholders are eligible to make 3 claims with the Multi-Claim Option during the term of the policy, that covers 17 critical illnesses. The critical illnesses fall into 4 categories: Group 1, Group 2, Group 3, and Group 4.
|Minimum policy term||5 years|
|Maximum policy term||30 years|
|Premium payment term||Regular pay|
|Premium paying frequency||Annual|
|Minimum sum assured||Rs.5 lakh|
|Maximum sum assured||Rs.1 crore|
Listed below are the specific illnesses covered under Group 1, Group 2, Group 3, and Group 4 for the multi-claim option.
|Group 1||Group 2||Group 3||Group 4|
This insurance plan offers customers two options to make claims: Single Claim option and Multi-Claim option.
|1st Claim||The amount or sum assured will be paid. In this case, the policyholder may be waived off from all future premiums.|
|2nd Claim||The sum assured will be paid|
|3rd Claim||The sum assured will be paid and after the 3rd claim the policy will be terminated|
|Upon death of the insured party during the term of the policy||No benefit will be paid|
|If the policy matures||No benefit will be paid|
|If the policy is surrendered||No benefit will be paid|
Here is how the policy works:
|Free Look Period||A policyholder has to go through the terms and conditions of the policy, look at the coverage provided, policy specifications. In case, the insured party is not comfortable with any of the policy literature, there is an option to return the policy within a period of 15 days. This can be done by stating the reasons for return. In such cases, the premium amount will be refunded after making applicable deductions such as risk premium, stamp duty and any medical expenses that may have been incurred. However, a free lock in period of 30 days will be given to policyholders who have purchased their policy through online marketing services.|
|Grace Period||The grace period allowed for all premium models will be 30 days from the date of premium payment. The policy will be applicable and in force during the grace period.|
|Suicide claim||If the policyholder commits suicide within a year of the policy term, it will be declared void. However, 80% of the premium received will be paid in case the policy is valid from the date of death.|
|Survival Period||There is a minimum survival period applicable for each of the three claims a policyholder is entitled to. The minimum survival period is 30 days.|
|Waiting Period||No critical illnesses contracted during 90 days from policy inception shall be covered. Also, after making a claim there shall be a no-benefit period of 365 days.|
|Premium Waiver||Once a policyholder makes his/her first claim, the company will waive off all the future premium payments and the cover will continue.|
One of the other advantages of holding a health insurance policy is the tax benefit. Customers will be eligible to avail this benefit under Section 80D and Section 10(10D) of the Income Tax Act, 1961.
Edelweiss Tokio Life CritiCare+ comes with a host of benefits. Let's explore the some of them:
Established in 2011, Edelweiss Tokio Life CritiCare+ is a joint venture between the 130-year-old Japanese insurance company Tokio Marine Holdings and India’s top financial services company Edelweiss Financial services. They are one among the top insurance providers in the market with an ever-expanding branch network of more than 70. Equipped with a team of qualified advisors and known for their good quality services and customer centricity, Edelweiss Tokio Life CritiCare+ is one of the best-rated plans for those who are looking for a good critical illness cover policy.
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