Exide Life Sanjeevani is a fixed benefit health insurance plan offered by Exide Life Insurance Company Limited. This plan offers coverage against cancer and heart conditions. With this health insurance plan, you get following benefits:
Under this plan, you have to wait for a period of 180 days called the waiting period before making a claim. Waiting period starts from the policy commencement or reinstatement date. To be eligible for claim benefit, you have to survive the survival period from the time of diagnosis. Exide Life Sanjeevani covers the following cardiovascular and cancer conditions under:
The diagnosis of any covered condition must be established with a necessary proof and certification from a specialist in the cancer or cardiovascular field. This policy doesn’t provide maturity benefit, death benefit or surrender benefit.
Listed below are the eligibility factors that you must meet in order to purchase Exide Life Sanjeevani:
|Entry age of the life insured (minimum to maximum)||18 to 65 years old|
|Maximum maturity age of the parent||70 years old|
Listed below are the required Policy Term, PPT, and Sum Assured for Exide Life Sanjeevani:
|Premium Payment Term (PPT)||Regular|
|Policy Term||5 to 35 years (subject to maturity age of 70 years)|
|Sum Assured||Rs.5 lakhs to Rs.25 lakhs|
|Premium Payment Frequency||Annual|
*Premiums vary based on age, location, plan term, and other factors.
You will receive the following benefits under Exide Life Sanjeevani:
The benefits payable under this policy are paid as a lump sum amount after diagnosis of the covered conditions. The payout depends on the severity of the conditions and any claims previously admitted under this policy. The maximum claims payable shall not exceed 100% of the Basic Sum Assured. The categories of severity and payouts are as follows:
|Category||Claim Benefit Payout|
|Mild||A claim benefit under this category is 25% of the Basic Sum Assured. Only 1 claim can be made under this category in Option A and maximum 2 claims under Option B, provided the conditions are from 2 different classes.|
|Moderate||A claim benefit under this category is 50% of the Basic Sum Assured. Two claims can be made under this category. Once 100% of the Basic Sum Assured is paid, the policy will terminate.|
|Severe||A claim benefit under this category is 100% of the Basic Sum Assured minus the Basic Sum Assured already paid for previous claims. The policy shall be terminated after paying this claim benefit.|
If more than 1 covered condition is diagnosed at the same time, the claim with the highest benefit will be paid.
Under this plan, if the life assured is identified as having any pre-existing disease related to cancer or heart condition, then the policy term between 5 to 9 years will not be issued. Benefits under this plan will not be payable due to other exclusions such as:
Following are other key features of Exide Life Sanjeevani:
Under Exide Life Sanjeevani, you can get tax benefits on premiums paid towards Critical Illness Rider under Section 80D of the Income Tax Act, 1961.
There are several other benefits of purchasing a health insurance plan from Exide Life Insurance such as:
|My Life||Register for My Life and easily manage your policy. With this online feature on the Exide Life website, make online premium payments, update contact details, check policy status, view Policy Value, revive your insurance policy, make enquiries through E-box, print policy fund statements, tax certificates, and portfolio statements.|
|Policy alerts||You can get policy notifications via email or SMS on your registered mobile number.|
|Premium payment channels||Premium payments can made online via e-wallet, net banking, credit card or debit card. Other premium payment channels are Auto-Debit Arrangement, NEFT or RTGS, cheque, DD or cash deposit at Exide Life Insurance branch, South Indian Bank branch, Axis Bank branch, Karnataka One Counter, Bangalore One Counter, and HD One Counter.|
|Complaints and feedback||Fill up an online form on the Exide Life Insurance website to register your complaints or feedback. For grievance redressal, visit the nearest Exide Life Insurance branch or write to firstname.lastname@example.org. You can also call toll-free number 1800 419 8228 for any policy related queries.|
Following are the reasons why you should buy a health insurance plan from Exide Life Insurance:
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