Bajaj Allianz Critical Illness

Objective

This is a special insurance policy which covers insured person against 10 major critical illnesses.

Suited for

Though this policy can be bought by anyone, it is a must for those who have family history of any serious illness.

What does it do?

It pays sum insured in lumpsum on confirmed diagnosis of any of 10 critical illnesses covered under this policy provided the insured  survives for 30 days after the diagnosis. It covers cancer, coronary artery bypass surgery, first heart attack (myocardial infarction), kidney failure, major organ transplant, multiple sclerosis, stroke, aorta graft surgery, paralysis and primary pulmonary arterial hypertension.

Pros

Premiums paid under this plan qualify for deduction under Section 80D of Income Tax Act.

Cons

There is a survival period of 30 days after diagnosis of disease to reap the insurance benefit.

Our View

This policy is worth purchasing as it covers most chronic diseases at less price. Considering the rise in number of people contracting such critical diseases, it has become imperative to remain covered against critical illnesses. Anyone can buy this policy but as said earlier, if you have a family history , a critical illness policy is a must.