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.
