Health Insurance 202 views May 24, 2021

Chola Group Credit Linked Critical Illness Insurance Policy provides financial coverage to people having borrowed any type of loan from banks/financial institutions against critical illnesses. Borrowers who are between 18 and 65 years can apply for this policy. Read this page and know about the coverage of the Chola Group Credit Linked Critical Illness Insurance Policy in detail.

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Chola Group Credit Linked Critical Illness Insurance Policy Cover

If you are diagnosed with any of the listed critical illnesses during the policy term, you will get a lump sum benefit equal to the sum insured. You have three different coverage options under the Chola Group Credit Linked Critical Illness Insurance Policy.

SecureSecure PlusSecure Advantage
Cancer of Specified SeverityCancer of Specified SeverityCancer of Specified Severity
Myocardial Infarction (First Heart Attack ofMyocardial Infarction (First Heart Attack ofMyocardial Infarction (First Heart Attack of
specific Severity)specific Severity)specific Severity)
Major Organ /Bone Marrow TransplantMajor Organ /Bone Marrow TransplantMajor Organ /Bone Marrow Transplant
Stroke Resulting In Permanent SymptomsStroke Resulting In Permanent SymptomsStroke Resulting In Permanent Symptoms
Open Chest CABGOpen Chest CABGOpen Chest CABG
Kidney Failure Requiring Regular DialysisKidney Failure Requiring Regular DialysisKidney Failure Requiring Regular Dialysis
Permanent Paralysis Of LimbsPermanent Paralysis Of LimbsPermanent Paralysis Of Limbs
Multiple Sclerosis With Persisting SymptomsMultiple Sclerosis With Persisting SymptomsMultiple Sclerosis With Persisting Symptoms
Motor Neuron Disease With Permanent SymptomsMotor Neuron Disease With Permanent SymptomsMotor Neuron Disease With Permanent Symptoms
Open Heart Replacement or Repair of Heart ValvesOpen Heart Replacement or Repair of Heart ValvesOpen Heart Replacement or Repair of Heart Valves
Third Degree BurnsThird Degree BurnsThird Degree Burns
End Stage Lung FailureEnd Stage Lung FailureEnd Stage Lung Failure
Benign brain tumourBenign brain tumourBenign brain tumour
BlindnessBlindnessBlindness
Coma of Specified SeverityComa of Specified SeverityComa of Specified Severity
Surgery to AortaSurgery to Aorta
Primary (Idiopathic) Pulmonary hypertensionPrimary (Idiopathic) Pulmonary hypertension
Parkinson’s DiseaseParkinson’s Disease
Aplastic AnaemiaAplastic Anaemia
End Stage Liver FailureEnd Stage Liver Failure
Fulminant Viral HepatitisFulminant Viral Hepatitis
Muscular DystrophyMuscular Dystrophy
Goodpasture’s syndrome
Apallic syndrome
Systemic lupus erythematosus
Multiple system atrophy
Progressive scleroderma
Pneumonectomy
Pulmonary artery graft
Alzheimer’s disease
Cardiomyopathy
Brain surgery
Progressive supranuclear palsy
Creutzfeldt-jakob disease (CJD)
Major Head Trauma
Encephalitis
Loss of Speech
Bacterial Meningitis
Deafness

Chola Group Credit Linked Critical Illness Insurance Policy Optional Covers

By paying an additional premium under Chola Group Credit Linked Critical Illness Insurance Policy, you can enhance your coverage by adding any of these optional covers to it.

  1. Accidental Death Benefit – If you sustain any bodily injury during the policy period anywhere around the world and die within twelve months of its occurrence, the company will pay the sum insured as mentioned in the policy certificate.
  2. Permanent Total Disability Benefit (PTD) – If you sustain any bodily injury anywhere in the world and it results in PTD within twelve months of its occurrence, the company will pay 100% of the sum insured for the following losses – loss of sight of both eyes, loss of two entire hands or two entire feet, loss of one entire hand and one entire foot, loss of sight of one eye and loss of one entire foot/hand, loss of hearing of both ears and loss of speech, loss of hearing of both ears, loss of speech and loss of one limb or loss of sight of one eye, comatose state.
  3. Permanent Partial Disability Benefit (PPD) – If you suffer from permanent partial disability due to an accident, the company will pay you a percentage of the sum insured as specified for every form of impairment in the policy schedule.

Waiting Period

If you have any signs and symptoms or are diagnosed with any of the covered critical illnesses within the first 90 days from the date of commencement of the policy, no benefit shall be payable to you. This waiting period does not apply to the hospitalization due to an accident during the policy period.

Exclusions from Chola Group Credit Linked Critical Illness Insurance Policy

The insurer shall not cover critical illnesses, PTD, PPD, Death if they arise due to the following –

  1. Any critical illness arising out of your pre-existing disease/condition shall be excluded from the cover.
  2. Any sexually transmitted diseases or condition related to Human T-Cell Lymphotropic Virus Type III (III LB III), Lymphadenopathy Associated Virus (LAV), Mutants Derivative or Variations Deficiency Syndrome, AIDS
  3. Injuries or illnesses due to war, invasion, the act of a foreign enemy, hostilities, civil war, insurrection, terrorism or similar acts
  4. Injury or illness due to participation in the naval or military operation
  5. Injury or illness due to participation in any hazardous activities such as scuba diving, motor racing, parachuting, hang gliding, rock/mountain climbing and alike whether voluntary or paid.
  6. Injuries or illness due to any natural hazard such as storm, tempest, avalanche, earthquake, volcanic eruptions, hurricane, etc.
  7. Intentional self-injury or suicide
  8. Abuse of intoxicating drugs or alcohol
  9. Occupational disease
  10. Treatment traceable to pregnancy, childbirth, postpartum complications such as caesarian, birth defects and congenital anomalies.

Terms & Conditions of Chola Group Credit Linked Critical Illness Insurance Policy

Chola Group Credit Linked Critical Illness Insurance Policy Coverage is subject to the following terms and conditions –

The policy will terminate automatically on the earliest of the following events –

  1. Expiry date
  2. Death of the insured
  3. Claim settlement of 100% of the sum insured
  4. Date of cancellation of this policy

You will get worldwide coverage for accidental death, PTD and PPD under optional covers

Upon payment of an admissible claim and settlement of 100% of the sum insured, the policy will terminate. However, the coverage in respect of optional benefits continues till the expiry date or occurrence of a claim (up to 100% of the sum insured)

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