Bajaj Allianz General Insurance launches critical illness policy

HYDERABAD: General insurance player, Bajaj Allianz General Insurance, on Tuesday announced the rollout of a critical illness policy -- Criti-Care. While the entry age for adults is 18 years to 65 years and that for children is three months to 30 years, there is no exit age under the scheme as the renewal is applicable for lifetime.

Criti-Care is a benefit only policy which means that it pays a lump sum amount to the customers if diagnosed with the listed ailment. The sum insured under each section ranges from Rs 1 lakh to Rs 50 lakh and the maximum total sum insured of the policy is Rs 2 crore.

The policy allows customers to design their coverage by selecting any or all five sections within the policy, waiting period as well as survival period. The five sections under the policy are -- cancer care, cardiovascular care, kidney care, neuro care, transplants care & sensory organ care. This policy covers 43 critical illnesses, which include both initial and advanced stages.

Commenting on the launch, Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance said, “We have observed that many people are becoming susceptible to critical illnesses due to changes in lifestyle, amongst other causes, and the treatment costs for such ailments can substantially affect a person’s financial health. With our modular product Criti-Care, our aim is to not only allow our customers the freedom to design their policy as per their needs, but also provide them with much needed support through additional benefits like dialysis care, physiotherapy care, among others, that can help them with faster recovery.”

Source: The Times of India