Critical Illness Insurance Policy

Critical Illness Insurance provides you and your family, the additional financial security on diagnosis of a critical illness. The policy provides a lump sum amount which could be used for costs of the care and treatment, recuperation aids, debts pay off, any lost income due to a decreasing ability to earn or fund for a change in lifestyle.

Sum Insured is the maximum amount that we will pay to the insured as a lumpsum amount, in the event of a Critical illness.

Following is the list of critical illness covered under this policy:

A. First diagnosis of:

• Cancer of Specified Severity
• Kidney Failure Requiring Regular Dialysis
• Primary Pulmonary Arterial Hypertension
• Multiple Sclerosis with Persisting Symptoms

B. Undergoing for the first time of the following surgical procedures:

• Major Organ/ Bone Marrow Transplant
• Open Chest Bag
• Aorta Graft Surgery
• Open Heart Replacement or Repair of Heart Valves

C. Occurrence for the first time of the following medical events:

• Stroke Resulting in Permanent Symptoms
• First Heart Attack of Specified Severity
• Coma of Specified Severity
• Total blindness
• Permanent Paralysis of Limbs

Anyone in the age group of 18- 65 years can buy this policy.

There is a waiting period of 90 days before you can claim under this policy.

Survival period means that Insurance benefit is payable, only if the Insured is alive for a period of more than or equal to 28 days from the date of the first diagnosis of the illness/medical event or undergoing illness related surgical procedure for the first time.

Below table explains the actual survival period and assessment period for the listed critical illnesses:

The maximum sum insured would be restricted to 60 months gross income for the Insured or maximum of ₹ 5,000,000/- provided, Insured is the earning member of the family and in such cases, Company may insist for income proof, if required. In case of non-earning Insured sum insured would be restricted to 50% of Sum Insured based on Proposer Income maximum up to 10 lacs. The Maximum Sum Insured would be restricted to ₹ 1,500,000/- for insured persons aged 60 and above and taking a policy for the first time.

You can buy 1 year or 3 year policy term under this policy.

Pre-acceptance Health check is not mandatory for people who are less than 45 years old and without any history of illness. Insured’s with following condition, acceptance of proposal is subject to a satisfactory medical examination as per SBI General’s requirements:

• Insured with adverse medical history as declared in Proposal Form or,
• Insured aged above 45 years & above; irrespective of SI.

The cost of Pre-acceptance medical tests has to be borne by the proposer. However, if the proposal is accepted by Us, we will reimburse 50% of the cost incurred towards the medical tests so undertaken at our advice.

Yes, free look option is available in this policy.

Any condition, aliment or injury or relation condition(s), for which the insured had signs or symptoms and/or diagnosed and/or received medical advice/treatment prior to the inception of the policy. Pre- existing diseases are permanently excluded from coverage in this policy.

Portability is applicable only within similar products. In this case, you can port your existing critical illness policy into this policy.

Deduction u/s 80 D of income tax act is available from taxable income for premium paid towards health insurance

• For self, spouse and dependent children - Maximum ₹25000/-
• For Parent(s)- Maximum ₹ 25,000/-
• In case Parent(s) are resident senior citizen- Maximum ₹ 30,000/-

However, please note that tax benefits are subject to change in tax laws.

Only one Critical Illness claim can be allowed by us during the lifetime of the Insured. The Critical Illness policy terminates immediately on the payment of first Critical Illness benefit under the policy and you will not be able to renew the policy.

Any congenital Illness/Conditions is excluded from coverage in this policy and hence your existing health ailment and related conditions will not be covered under this policy