Every woman is special, she plays different characters in her life - a daughter, a sister, a mother, a wife, a friend and the list go on. Sometimes her innocence can be found in her eyes, there is shyness in her face, she will bend down to respect elders, but she can be a fighter when someone will harm her family. It is not easy to be women; it is not difficult to behave like her. She bears the pain during Pregnancy to get a life on this earth. I would like to wish every woman who has struggled to make this world a beautiful place a “HAPPY WOMEN’S Day.. Everyday
There was a small get together arranged for Women’s Day at a friend’s Coffee shop. Something very interesting caught my ears. I heard a young gentleman discussing Life Insurance with my friend. He was straining hard to make her realize that she might die some day and there won’t be any corpus left for her family. What I realised from her conversation was that, there is a high possibility of a person dying due to unfortunate events (Eg: - Accidents). Though, I realize that it is important to insure yourself against such uncertainties, but it does not mean that, buying a life insurance is the solutions to all your concerns. There might be situations where life insurance might not work and you may require an extra Financial Support. Let’s understand with the below Illustrations:-
Let me rephrase – If you are alive, but not in a position to make any living due to some major illnesses then life Insurance may not help. Along with your basic needs, you will have to bear the heavy medical expenses on the treatments.
In such situations, CRITICAL ILLNESS COVER is the answer to your concerns:
A recent Statistic analysis done by WHO showed that, the fatality of certain Women Specific Illnesses was increasing. Due to this, Indian Women are becoming prone to ailments which may or may not lead to death.
My friend also agreed that, buying a Critical Illness cover is quite necessary, but she had few doubts & I took this as an opportunity to clarify:
1. What is a Critical Illness Policy and how is it useful?
A Critical Illness policy is a fixed benefit policy. When you are diagnosed with specified ailments as stated in the policy, a lump sum amount is payable irrespective of hospitalisation or not. Also, the amount is not restricted to the actual expenses incurred for the treatment. Cancer, Stroke & Paralysis are a few examples.
2. What is the basic eligibility & how much sum insured is offered?
To explain this in a better manner, let me discuss 2 critical illness specific products available in the market:
3. What ailments are covered under a Critical Illness Policy?
4. Does the Critical Illness policy also cover any congenital disability as I am planning a child next year?
Congenital means a Disability or physical abnormalities present since birth. Such type of disabilities are normally not covered under health insurance policy & so Critical Illness for women by Bajaj Allianz General Insurance has taken a welcoming step of covering these ailments under the policy. It not only helps in securing the child who is suffering from congenital diseases, but also gives a helping hand to the cost involved in the treatments.
5. My cousin was asked to resign because she was diagnosed with Cancer. What will happen if I am also in this situation, but I possess a critical Illness policy?
In case you lost your job within a period of 3months from the date of diagnosis, a lump sum amount of Rs. 25,000/- will be paid. This benefit covered under women specific critical illness policy of Bajaj Allianz General Insurance will support you financially.
Whereas, there is no such benefit in TATA AIG- Wellsurance women policy for this circumstance.
Let us look at some unique benefits of each of the plans:
Bajaj Allianz General Insurance -Women specific critical illness policy:
Child Education Bonus: In case of Claim Paid under critical illness, then Rs. 25,000 (Maximum Liability) will be paid for the future education of your child (Maximum up to 2 children). This benefit is paid in addition to the loss of a job benefit as mentioned above.
TATA AIG - Wellsurance women policy:
Daily Hospital Cash Benefit – up to 90Days
Ambulance Charges while admitting & While discharge
ICU benefits – Max 15days per policy year
Convalescence Benefit (Payable after continuous Hospitalization for 5days)
Cosmetic Reconstructive Surgery (Applicable only in case of Accident)
Other value Added benefits:
Health Line – On Call Expert Physicians to avail help on health and wellness related information
Discounted Services on Gym, weight management centers, beauty parlors, diagnostic centers.
The whole purpose of buying a critical illness cover is to overcome the expensive treatments which arise from a sudden diagnosis of a critical Illness in a women’s life. Another important point is, these critical illness covers are not very expensive. For Eg:- If you buy a health insurance cover of Rs. 5Lac (Individual Cover, Age 35yrs) the premium would be around Rs. 6000 to Rs. 7000 a year, whereas Critical Illness policy will cost around minimum Rs. 1,500 a year.
I was happy to clarify all doubts raised by my friend & she immediately applied for Bajaj Allianz women specific critical Illness policy through www.medimanage.com
Medimanage recommends every woman to buy a Critical Illness Policy. It not only complements your health insurance, but also supports you financially even if you are not hospitalised. Overall Bajaj Allianz –women specific critical illness policy covers most of the ailments which a woman can be pruned to, along with additional benefits like congenital disability, loss of job and child education bonus.
We will be happy to help you with any other detail you need to make an informed decision. Visit us at- http://www.medimanage.com/inquiry.aspx . You can also email your queries to email@example.com or call us on 9930220284.