Lifestyle Protection Critical Care – An Ideal Critical Illness Insurance?
Updated On Dec 15, 2020
Critical illness policies are widely sought after in today’s day and age. With the passage of time, people have understood critical illness insurance’s role in safeguarding finances during an already critical situation. If new to the term, learn that one of the best features of critical illness insurance plans is that they provide a lump sum amount on diagnosis. Furthermore, making the best possible use of the lump sum amount received, whether for bill payment, home rent, or anything else, is up to the policyholder. To ensure policyholders benefit from critical illness insurance, health insurance companies provide different critical illness plans. Let us uncover one such policy, Lifestyle Protection Critical Care in this post.
What is Lifestyle Protection Critical Care Policy?
One of the popular policies by ManipalCigna, Lifestyle Protection Critical Care is dedicated to critical illnesses. Specifically designed to take care of emergency expenses related to critical illness, this policy provides cover anywhere across the globe during the policy period. The best feature of the plan is that it gives you a lump sum amount (sum insured amount) in a single transaction in case of a diagnosis if you choose to go with it. On the contrary, you can also opt for staggered payment.
What Are Some of the Prime Features of the Lifestyle Protection Critical Care Policy?
A few key features of the Lifestyle Protection Critical Care Policy include:
- Lifetime renewal
- Policy term - 1 year, 2 year and 3 years
- 18 years minimum entry age; 65 years maximum entry age
- Basic Plan and Enhanced Plan variants
- Individual and family floater basis availability
- Basic plan covers 15 critical illnesses; Enhanced plan covers 30 critical illnesses
- Sum insured range starting from Rs. 1 Lakh up to Rs. 25 Crores in multiples of 1000
- Second medical opinion
- Access to online wellness program
- Grace period of 30 days
- Free look period of 15 days
- Income tax benefits under Section 80D
What Are the Critical Illnesses Covered Under Lifestyle Protection Critical Care Policy?
The list of critical illnesses covered under the policy includes:
Under Basic Plan
2. Open Chest CABG
3. Cancer of Specified Severity
4. Coma of Specified Severity
5. Permanent Paralysis of Limbs
6. Kidney Failure Requiring Regular Dialysis
7. Major Organ/Bone Marrow Transplant
8. First Heart Attack of Specific Severity
9. Open Heart Replacement or Repair of Heart Valves
10. Motor Neurone Disease with Permanent Symptoms
11. Multiple Sclerosis with Persisting Symptoms
12. Primary Pulmonary Hypertension
13. Aorta Graft Surgery
14. Loss of Hearing
15. Loss of Sight
Under Enhanced Plan
Above 15 and
1. Coronary Artery Disease
2. Aplastic Anaemia
3. End Stage Lung Disease
4. End Stage Liver Failure
5. Major Burns
6. Fulminant Hepatitis
7. Alzheimer's Disease
8. Bacterial Meningitis
9. Benign Brain Tumor
10. Apallic Syndrome
11. Parkinson's Disease
12. Medullary Cystic Disease
13. Muscular Dystrophy
14. Loss of Speech
15. Systemic Lupus Erythematosus
What Is the Staggered Payment Option in Lifestyle Protection Critical Care Policy?
When you opt for the Staggered Payout option, you receive payout in two parts such as:
1. 25% of sum insured as lump sum in case of critical illness event
2. Balance 75% + additional 10% of amount in 60 equated monthly instalments
What are the discounts available under Lifestyle Protection Critical Care Policy?
Lifestyle Protection Critical Care Policy comes with discounts like:
- 10% family discount for covering more than 2 family members under the same plan
- 7.5% & 10% of long-term discount on selecting a 2 and 3-year policy respectively
ManipalCigna with its Lifestyle Protection Critical Care Policy has ensured that none has to compromise on their quality of life due to medical expenses incurred on critical illness treatment. If willing to buy a critical illness plan, you can definitely opt for this one and enjoy complete care.
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Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.