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Health Insurance 428 views October 5, 2020
Critical Illnesses always affects the financial position of the individual. It washes away all the hard-earned money of the individual because the treatments for the critical illnesses are quite high. So, if you want to save yourself from a financial disaster due to a critical illness then you must go for a health insurance plan. You must focus on such health plans that give you a wide coverage for critical illnesses. The Liberty Critical Connect Insurance Plan covers 60 different types of critical illnesses and you can take a Sum Assured of up to INR 1 Crore. This insurance plan will help you to cover the treatment expenses of a critical illness. So, you must see the features of this plan.
Table of Contents
Features of Critical Connect Policy
- Flexibility of Choosing the Sum Assured between the range of Rs.1 Lac to Rs.1 Crore.
- This plan will cover the cost of treatment for a critical illness.
- You can enter into this plan at the age of just 18 years.
- Flexibility of Choosing the Policy term as per the coverage time you need.
- This plan has the option of lifetime renewability.
- You are allowed to cover your family members as well in this plan.
- Get Tax Deductions as per the existing Tax Laws.
Benefits of Critical Connect Health Insurance Plan
There are various benefits of this plan because it will provide you a cover for 60 different types of critical illnesses. You will get the reimbursement for the treatment of the critical illnesses covered in this plan.
60 Different Types of Critical Illnesses are Covered
You can cover 60 different types of critical illnesses in this plan. The company will reimburse the expenses incurred for the following illnesses.
| Critical Illness | |||
|---|---|---|---|
| Cancer of Specified Severity | Major Organ / Bone Marrow Transplant | Kidney failure requiring regular dialysis | Myocardial Infarction |
| Stroke Resulting in Permanent Symptoms | Coma of Specified Severity | Permanent Paralysis of limbs | Open Chest CABG / Coronary Artery Bypass Surgery |
| Multiple Sclerosis with Persisting Symptoms | Third-degree burns | Open Heart Replacement or Repair of Heart Valves | Benign Brain Tumor |
| Surgery to Aorta / Aorta Graft Surgery | Motor Neurone Disease with Permanent Symptoms | End-Stage Lung Failure | RenoLiv Protect |
| Blindness | Deafness | Parkinson’s Disease | Alzheimer’s Disease |
| Cardiomyopathy | Loss of Speech | Aplastic Anaemia | Bacterial Meningitis |
| Primary (Idiopathic) Pulmonary Hypertension | Major Head Trauma | Fulminant viral hepatitis | Muscular Dystrophy |
| Apallic Syndrome | Brain Surgery | Protect Medullary Cystic Disease | Pulmonary Artery Graft Surgery |
| Systemic Lupus Erythematosis | Goodpasture’s Syndrome | Multiple System Atrophy | Progressive Scleroderma |
| Pneumonectomy | Progressive Supranuclear Palsy | Creutzfeldt Jakob Disease (CJD) | Pulmonary-Renal Syndrome |
| Loss of Limbs | Angioplasty | Pneumonectomy | Encephalitis |
| Severe Rheumatoid Arthritis | Heart Transplant | Balloon Valvotomy or Valvuloplasty | Carotid Artery Surgery |
| Implantable Cardioverter Defibrillator | Implantation of Pacemaker of Heart | Infective Endocarditis | Minimally Invasive Surgery of Aorta |
| Pericardiectomy | Pulmonary Thromboembolism | Surgery for Cardiac Arrhythmia | Surgery to Place Ventricular Assist Devices or Total Artificial Hearts |
Treatment Cost is Covered
If you are going for the treatment of any above-mentioned illnesses then the company will give you a cover for that treatment. The cost of the treatment will be compensated by the company under the Liberty Critical Connect Insurance Plan.
Lifelong Renewability
There is no maximum age for renewing this policy. You can renew this plan throughout your life and enjoy coverage for critical illnesses.
Cover your Loved Ones
If you really care for your loved ones then you can add them to this plan and give them the cover. The family members allowed in this plan are as follows:
- Self
- Spouse
- Children
- Parents
- Parents-in-Law
- Siblings
- Son-in-law
- Daughter-in-Law
- Grandparents
- Grandchildren
Enjoy Tax Deductions
You can also claim for the tax deduction under Section 80D of the Income Tax Act. You can show the number of premiums paid for this insurance plan while you are computing your annual income. The deduction is available as per the existing tax law.
Flexible Policy Term
This health insurance plan has the option to choose a policy term of up to 3 years. You can also choose a policy term of 1 year and 2 years as per your requirement.
EMI Protection
There is also an option to give a cover to your existing EMIs on loan. In this option, if you are diagnosed with a critical illness then the company will remove some financial burden from you and pay the EMIs for a certain span of time on the loan.
Eligibility Criteria for Liberty Critical Connect Insurance Policy
| Particulars | Details |
|---|---|
| Minimum Age of Entry | 18 Years |
| Maximum Age of Entry | 65 Years |
| Minimum Age of Entry for a Dependent Child | 5 Years |
| Maximum Age of Entry for a Dependent Child | 25 Years |
| Policy Term Options | 1 Year, 2 Years, and 3 Years |
| Minimum Policy Term | 1 Year |
| Maximum Policy Term | 3 Years |
| Minimum Amount of Sum Assured | Rs.1 Lac |
| Maximum Amount of Sum Assured | Rs.1 Crore |
| Renewability | Lifelong |
| Tax Deductions | As per Section 80D |
Waiting Period of this Health Plan
- 90 Days is the waiting period starts from the date of inception of the policy.
- 30 Days of the waiting period is needed if the insured is diagnosed with a critical illness.
- 4 Years of the waiting period is needed for a pre-existing illness and HIV treatments.