The comprehensive insurance policy will cover both cardiac and renal illness
Birla Sun Life Insurance (BSLI), the life insurance arm of the Aditya Birla Financial Services Group (ABFSG) has launched BSLI CritiShield Plan, a first-of-its-kind comprehensive non-participating traditional health insurance plan. Expanding company’s bouquet of protection solutions CritiShield is designed to meet cost-effectively the protection and financial security needs of individuals and their families against cardiac and/ or renal illnesses.
BSLI CritiShield Plan offers three types of benefits: cardiac benefit, renal benefit and comprehensive benefit. In cases of both, cardiac and renal benefit, at the diagnosis of an early stage cardiac/ renal condition, 30 per cent of the sum assured will be paid to life insured, and at the diagnosis of a major stage cardiac/ renal condition, 100 per cent of the sum assured on cardiac/ renal illness less any previously paid claim for an early stage cardiac/ renal condition will be paid to the life insured. In case of the comprehensive benefit, at the diagnosis of an early stage cardiac condition, 30 per cent of the sum assured will be paid to the life insured, and at the diagnosis of an early stage renal condition, 30 per cent of the sum assured will be paid to the life insured. At the diagnosis of both – a major cardiac and renal condition, 100 per cent of the sum assured on cardiac/ renal illness less any previously paid claim for an early stage cardiac/ renal condition will be paid to the life insured. The comprehensive plan benefit covers both cardiac and renal conditions and is paid irrespective of any earlier claim paid.
BSLI CritiShield also offers an income benefit option. Once a claim for major stage cardiac or renal condition has been approved, a monthly income equivalent to one per cent of the sum assured on cardiac or renal illness would be paid. For comprehensive benefit, monthly income equivalent to one per cent of the sum assured is payable following a valid major stage cardiac and/ or renal condition. Payment of cardiac condition will not impact the benefit paid under renal conditions and vice-versa. The monthly income will be payable for a fixed period of next five years even beyond the policy expiry date. In case of death of the policy holder, nominee will continue to receive the income benefit.