What does it do?
This plan gives you freedom to customise the policy as per your needs. It offers eight standalone policy benefits under one policy. Each policy benefit is defined as a Section which has its own exclusions as well. It is upto the proposer to select any of the sections depending on his needs. A minimum of three sections are mandatory to select. For instance, you may select three sections- health guard (covering inpatient treatment and related expenses), critical illness and personal accident section. The policy will charge premiums based on the sections opted. This single policy can become a comprehensive package if customised in a manner.
Pros
No sub-limit on room rent and other expenses.
Higher policy terms of two and three years provide relief from renewal process on an annual basis.
It offers discount on selecting four or more sections.
It saves policyholder from task of managing multiple policies.
Premium paid under this policy will enjoy tax benefits under Section 80D.
Cons
The policy cannot be renewed throughout lifetime.
There is a co-payment clause which means 10 per cent of the admissible claim amount will have to be borne by the insured member if treated in non-network hospital.
Individuals between age 50 and 60 years entering the policy for the first time have to bear 20 per cent of the admissible claim amount.
