Basic review – Edelweiss Tokio Life : CritiCare+

In the last few weeks I have happened to discuss with different sets of people about the topic of Insurance. The discussions revolved around different types of insurance whether is general or medical or travel, as I said coincidentally this has been the topic of discussion off late. So in middle of one the discussion a friend recommended me Edelweiss Tokio Life – CritiCare+ plan for critical illness and he did brief me on a few features and benefits about the same.

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I thought of going a bit in detail about this critical illness insurance plan since it was suggested by someone close & trustworthy. In simple words this plan is specially designed to get help in case of some critical illnesses which in todays time can be an unwanted guest anytime to anyone. This plan covers you against 17 major critical illnesses which are –
Open Chest CABG.
Kidney failure requiring regular dialysis.
Stroke resulting in permanent symptoms.
Aorta Surgery.
Coma of specified severity.
Major burns.
Permanent Paralysis of limbs.
Major Organ Transplants ( Heart, Kidney).
First Heart Attack of specified severity.
Open Heart replacement or repair of Heart valves.
Total blindness
Aplastic anaemia
Cancer of specified severity.
Benign brain tumour.
Major organ transplant (bone marrow, liver,lung, pancreas).
Motor neurone disease with permanent symptoms.
Multiple Sclerosis with persisting symptoms.

The above mentioned illnesses definitely sound the ones which can shake anyone emotionally & financially besides taking a toll on health. Besides covering these illnesses there are few benefits or advantages which this plan gives. The entry age is up to 65 years which still gives 5 years to be a policy holder and make use of it whereas the minimum age to enter 18 years and it gives a maximum span of 30 years to be a policy holder so if planned properly and strategically this can really come real handy. The aim should be to plan well in advance so when the actual problem comes this policy is there to help. One can pay less than Rs. 1000 premium per month and get a cover upto Rs. 1 crore which sounds very good. Correct timing is very crucial for strategic investments. Discounts are given on large sums insured. There is slab rate system where different discounts can be used. The tax benefits are there on premium and claim amount. Policy holder can claim 3 times during the policy term under multi claim option: 1st Claim – Sum Assured is payable and all future premiums are waived off, 2nd Claim – Sum Assured is payable, 3rd Claim – Sum Assured is payable and policy will get terminated. Only online term policy having maturity age up to age of 70 years.
The basic product features are mentioned on the site in simple words and the product description is also quite transparent. The policy gets highlighted with its advantages when compared with others in the same field. Few of them don’t include these types of ailments and if they do they have terms and conditions which need to be read properly. I am sure there are multiple of them in the market but proper study of these is a must.The multi claim option is one of the stand out features which can be really handy. You can avail tax benefits under Section 80C and Section 10 (10D) of Income Tax Act, 1961, subject to change in the tax laws.
I think plans like these can be of a great help in emergencies and real need so we should give a serious thought about putting money in these systematically and smartly. They help to release the financial pressure to an extent when the patient and family are already going through a lot of suffering and emotional pressure.

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