ICICI Prudential Life Insurance : Health Assure Plus
Illnesses have a way of sneaking up on us, weakening our financial stability and stealing our family’s peace of mind. It is best to keep oneself insured at all times against the most critical illnesses that are also the most common: Cancer, Coronary Artery Bypass Graft or Surgery, Heart Attack, Kidney Failure, Major Organ Transplant, and Stroke.
ICICI Prudential’s HealthAssure Plus financially insures you against these six critical illnesses. Should you ever be diagnosed with one or more of these, HealthAssure Plus provides you with a fixed sum, irrespective of your actual medical expenses. The health plan thus shoulders the heavy costs of your treatment and ensures you stay financially stable, come what may.
Features of Health Assure Plus
Coverage Against
Life and Six Critical Illnesses: Cancer, Coronary Artery Bypass Graft or Surgery, Heart Attack, Kidney Failure, Major Organ Transplant, and Stroke
Minimum Sum Assured
Rs. 1 lakh
Maximum Sum Assured
Rs. 10 lakh
Minimum/Maximum Entry Age
18 years to 55 years
Maximum Age at Policy Maturity
65 years
Minimum Policy Term
10 years
Maximum Policy Term
30 years
Maturity Benefit
Yes, calculated on basis of no claims made
Surrender Value
Payable after 3 years of plan
Freelook Period
15 days from the date on which you receive your documents
Tax Benefits
Tax benefit under Sec. 80 (C) for premiums paid towards both, Life and Critical Illness covers.
Benefits of Health Assure Plan
Long-term coverage against 6 critical illnesses: Choose a cover, for as long as 30 years with a premium guarantee for 5 years, depending on your age.
Sum Assured of up to Rs. 10 lakhs: Receive the Sum Assured on diagnosis of any of the 6 covered critical illnesses: Cancer, Coronary Artery Bypass Graft/Surgery, Heart Attack, Kidney Failure, Major Organ Transplant, and Stroke.
Life Insurance Sum Assured: This amount is paid to the nominee should something happen to the policyholder.
Flexible withdrawal options: Choose to receive the benefit amount either in a lump-sum amount or in installments over 5 years. These installments will be payable as 25% in the first years and 20% each year for the next 4 years.
Waiver of premium: Enjoy a waiver of premiums towards your Life Cover even after you receive the benefit amount on being diagnosed with a critical illness.
Maturity benefit: Receive a ‘No claim benefit’ when the policy term ends, provided you have made no claims during the tenure. The Maturity Benefit is equal to the sum total of all the premiums paid.
Surrender Value: You can surrender your plan after 3 years of cover. The Surrender Value will be paid immediately, provided you have paid all your premiums in the first 3 years.
No medical/other bills: Receive your claim amount on diagnosis without having to show any bills.
No medical examinations: Enjoy a waiver on medical examinations if you choose a Sum Assured up to Rs. 5 lakhs.
Tax benefits: Enjoy tax benefits on the premiums you pay (under u/s 80 C) for premiums paid for both Critical Illness and Life Cover.
Sources : http://www.iciciprulife.com/