Health First- Health Insurance Plan

This option offers you cover against 26 Major Critical Illnesses. When a major Critical Illness strikes, it can place a huge burden on you and your family, not only because of the medical expenses, but also because you may have to take a break from work. To protect you against the financial burden, we will pay you the applicable Sum Assured as lump-sum to meet your financial needs. The benefit is payable irrespective of the actual expenses incurred by you.

This product provides a lump-sum equal to the applicable Sum Assured on first diagnosed of a Major Critical Illness or undergoes first performance of any of the listed surgeries in relation to a Major Critical Illness. On the payment of applicable Sum Assured, coverage will terminate immediately

The plan offers comprehensive cover for Heart and Cancer related ailments. You can choose the cover which you need at inception.

The benefits payable under Heart or Cancer Cover (as applicable) will be paid as a lump-sum upon first diagnosis of any of the illnesses / first performance of any of the covered surgeries (as listed below). The payout depends on the severity of the diagnosed condition (Major/Minor Condition) and claims previously admitted under this Policy. The maximum claim payable in this Policy shall not exceed 100% of the applicable Sum Assured

If the Life Assured is diagnosed to be suffering from Cancer or Heart disease of defined severity, a percentage of the applicable Sum Assured will be paid, as per below schedule:

Only one claim is permissible under each of these Conditions (Major/Minor). In any case, the total payout in the Policy cannot exceed 100% of the applicable Sum Assured for each cover.

Premium Waiver Benefit:

In Heart and Cancer Cover the plan continues even after the first pay-out for a Minor Condition Claim is made, without you having to pay any future premiums for the applicable coverage under which the claim is made.

Increasing Cover Option:

You have the option of taking Increasing Cover under all the three plan options (Major Critical Illness Cover, Heart Cover, Cancer Cover) at proposal stage. Increasing Cover option helps you take care of growing medical expenses. Under this option, the initial Sum Assured increases by 10% (simple rate) every year starting from the first policy anniversary, until the first claim is made. The Sum Assured can go up to a maximum of 150% of initial Sum Assured.

If you have opted for Increasing Cover option at inception and there is claim during the Policy Term and the Policy is in-force you will receive a lump-sum payout basis the Increased Sum Assured.

For example, when you choose a Sum Assured of Rs. 20 lacs under Heart Cover for a term of 10 years and take the Increasing Cover option, starting from the first policy anniversary an additional 10% of initial Sum Assured will be added to your Sum Assured. Hence, by the 5th Policy year your Heart Cover would have increased from Rs. 20 lacs to Rs. 30 Lacs. (10% of Rs.20 lacs = Rs.2 lacs, Rs.2 lacs *5 years = Rs.10 lacs increase).

Monthly Income Benefit Option:

This plan gives you an additional benefit of 1% of initial Sum Assured every month for 5 years (i.e. 60 months) following the date of diagnosis of a Major Heart / Cancer condition / Major Critical Illness (as applicable), to help your family deal with loss of income. This monthly income payment is over and above the lump-sum payment made on diagnosis of the illness/ condition, and is continued to be paid to your Nominee for the total defined period of 5 years, even in case of your unfortunate death. The Nominee can also request for commuting the remaining monthly instalments into lump sum within six months of the death of the Life Assured. On the request for such commutation, the value of the remaining monthly instalments, discounted at 4.0% per annum, shall be payable and no further benefit shall be payable thereafter

Maturity benefit:

The Policy does not provide any maturity benefit under Heart or Cancer Cover. In case of Major Critical Illness Cover, there is an option to take the Return of Premium Option (available with Policy Term 10 to 20 years), which provides maturity benefit. For details please refer to the Option as explained below.

Return of Premium Option:

This benefit ensures that your premiums comes back to you at the end of the Policy Term (if no claim is made) to take care of ongoing health / medical expenses. Upon survival of the Life Assured till the end of the Policy Term without any claim having made, while the Policy is in-force, the Company will pay back total premiums paid (excluding underwriting extra premiums if any) during the Policy Term as a Maturity Benefit.

Total premium paid means total of all the premiums received,excluding any rider premiums and taxes.