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Health Insurance 432 views May 25, 2021
Chola Credit Linked Premium Critical Illness Insurance Policy is available to persons aged between 18-65 years who have borrowed any type of loan from banks/financial Institutions or aggregators. Under this policy, you’ll get coverage against 22 critical illnesses during the policy period. Read this page further to know the list of critical illnesses covered under this policy plus learn about the terms & conditions and exclusions of the Chola Credit Linked Premium Critical Illness Insurance Policy.
Table of Contents
The insurer shall cover the following critical illnesses during the policy term –
Cancer of Specified Severity: The diagnosis of cancer must be supported by histological evidence of malignancy. The following shall be excluded from this policy –
Myocardial Infarction (First Heart Attack of specific Severity): Heart attack or myocardial infarction should be evidenced by the following criteria:
The following shall be excluded under this critical illness
Major Organ/Bone Marrow Transplant: Under this cover, the insurer will cover the medical expenses for the following transplants:
The following are excluded from this cover:
Stroke Resulting In Permanent Symptoms: Any cerebrovascular incident producing permanent neurological sequelae such as infarction of brain tissue, thrombosis in an intracranial vessel, hemorrhage and embolization from an extracranial source shall be covered if it is confirmed by a specialist medical practitioner and evidenced by CT Scan or MRI of the brain. Under this cover, the following shall be excluded –
Open Chest CABG: Heart surgery should be done via a sternotomy or minimally invasive keyhole coronary artery bypass procedure and the same must be performed by a cardiologist. Because angioplasty and any other intra-arterial procedures aren’t covered under this policy.
Kidney Failure Requiring Regular Dialysis: End-stage renal disease causing chronic irreversible failure of both kidneys must be confirmed by a specialist medical practitioner.
Permanent Paralysis of Limbs: Total and irreversible loss of use of two or more limbs due to the injury or disease of the brain or spinal cord will get covered if it is confirmed by a specialist medical practitioner.
Multiple Sclerosis with Persisting Symptoms: The illness must be confirmed and evidenced by all of the following:
Other causes of neurological damage such as SLE and HIV are excluded.
Motor Neuron Disease with Permanent Symptoms: The insurer shall pay the benefit for this illness if there is significant and permanent functional neurological impairment with objective evidence of motor dysfunction for a continuous period of 3 months.
Open Heart Replacement or Repair of Heart Valves: Open-heart valve surgery to replace or repair one or more heart valves should be caused due to abnormalities or disease-affected cardiac valve(s) and it must be supported by echocardiography and the surgery should be performed by a specialist medical practitioner. Catheter-based techniques such as balloon valvotomy/valvuloplasty are excluded.
Third Degree Burns: The third-degree burns must have scarred at least 20% of the body surface area.
End-Stage Lung Failure: The diseases must be evidenced by all of the following:
Benign Brain Tumor: The presence of the tumor must be confirmed by a CT scan or MRI. Cysts, Granulomas, malformations in the arteries or veins of the brain, hematomas are excluded under this policy.
Blindness: The diagnosis of blindness must be confirmed and not correctable by aids or surgical procedure and it must be evidenced by:
Coma of Specified Severity: The diagnosis must be supported by evidence of all the following:
Note: Coma due to abuse of alcohol or drug abuse is excluded.
Surgery of Aorta: The surgery for a disease of Thoracic and Abdominal Aorta but not its branches excluding traumatic injury of the aorta and congenital narrowing of the aorta.
Primary (Idiopathic) Pulmonary Hypertension: The illness must be confirmed by a cardiologist or specialist in respiratory medicine with evidence of right ventricular enlargement and the pulmonary artery pressure above 30 mm of Hg on Cardiac Cauterization.
Parkinson’s Disease: The disease must be supported by the following conditions:
Aplastic Anemia: Severe irreversible aplastic anemia must be confirmed with the following evidence –
Temporary or reversible Aplastic Anemia is excluded under this policy.
End-Stage Liver Failure: Permanent and irreversible failure of liver function due to
Liver failure due to drug or alcohol abuse is excluded.
Fulminant Viral Hepatitis: The diagnosis must be supported by the following evidence:
Muscular Dystrophy: The disease must be confirmed by a neurologist with appropriate laboratory, biochemical, histological, and electromyographic evidence. You must have at least three signs or symptoms of Muscular Dystrophy out of six, such as – Washing, Dressing, Transferring, Mobility, Toileting, Feeding
No benefits shall be paid for any critical illness for which you have signs and symptoms or are diagnosed within the first 60 days from the date of commencement of the policy. However, this waiting period shall not apply to an accidental injury.
No claim shall be admissible in respect of any critical illnesses if they arise due to the following –
There is a free look period of 15 days that starts from the date of receipt of this policy where you can review the terms and conditions of the policy and return the same if not acceptable. On such cancellation refund of paid premium would be made after retaining charges towards stamp duty charges and pro-rata premium from the risk start date till the date of cancellation.
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