Uncertainty. That’s one word that sums up our future. We know nothing about anything a week, or a month, or a year down the line. We don’t know whether we’ll be financially stable, or employed or physically fit. In such situations of overwhelming unpredictability, it doesn’t hurt to be safe, and to invest in health and financial security- through selecting a prudential health insurance plan. A plan that secures our future, ensures our mental well-being, and takes the heavy weight of uncertainty off our shoulders.

In search for such a health insurance scheme, I came across one that seemed custom-made for the needs of our generation, and whose features appeared almost too good to be true- but true they are! I am talking about Edelweiss Tokio Life’s CritiCare+ Plan- its Critical Illness Insurance Plan.

With respect to the product features, first things first:

  • The Minimum Age of Entry is 18 years, and individuals up-to 65 years of age can get insured
  • The Minimum Premium payable is ₹2,000, which has be paid annually
  • The Policy Term can range between 5 to 30 years, and the Sum Assured can range from ₹5,00,000 to ₹1,00,00,000

Now, one may ask the very pertinent question- What benefits do Critical Illness Insurance Plans offer us over conventional medical insurance plans? And the answer is- Plenty of benefits, and every discerning investor must weigh the pros of availing a Critical Illness Insurance Plan over those of a medical insurance before arriving at a decision.

Under a Critical Insurance Plan, diagnosis of the ailment (which must fall under the scheduled lists of illnesses) is enough to avail the insurance cover, whereas under conventional medical insurance plans, benefits can only be availed post-hospitalization.

Post-diagnosis of an ailment, the income of the insured may face an adverse shock, which hampers his/ her ability to make essential EMI payments, or pay the school fees for the children. Thus, the CritiCare+ Plan makes a lump-sum payment to the insured, which can be used for medical therapy, or for fulfilling essential household needs. Further on, discounts can be availed for higher Sum Assured.

Post-diagnosis of an ailment, the income of the insured may face an adverse shock, which hampers his/ her ability to make essential EMI payments, or pay the school fees for the children.

A horde of other pros tilt the scales in favour of Edelweiss Tokyo Life’s CritiCare+ Plan. This plan covers 17 Critical Illnesses, which include Cancer, as well as ailments concerning the heart and the kidneys. Given the fact that due to our sedentary lifestyles, a large proportion of India’s young and old suffer from disorders related to the heart, the CritiCare+ Plan has got us covered.

Another concern touted by most health-insurance seekers is – What about recurrent ailments and the need for further medical assistance after the first claim? CritiCare+ allows for recurring requirements for treatment with its Multi-Claim Option, wherein benefits can be claimed for up-to 3 times during the policy period! And not only that, it also offers a waiver for future premiums after the first claim. This means, that the Policy holders can enjoy all the benefits for the remaining tenure of the Policy, without making any further payments! This waiver is a boon, especially in cases where the income of the insured is adversely affected due to the illness in question. Moreover, given the fact that the probability of the reoccurrence of ailments is always high, the Multi-Claim options secures the insured from all sides. And of course, insurance seekers can choose between the Single-Claim Option and the Multi Claim Option.

The aforementioned merits of Edelweiss Tokyo Life’s CritiCare+ Scheme have me sold! Investing in a health-insurance plan is no longer a luxury, but a need that cannot be foregone. So, choose that investment wisely. The strengths and advantages of CritiCare+ make it the unparalleled best in the Critical Illness Insurance market. With its innumerable plus-points and perks, one should seriously consider availing this Policy. I know I am!

Featured Image Credits: Jamie Street via Unsplash

Posted by The Indian Economist