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Bajaj Allianz General Insurance launches ‘Criti-Care’ – A one of its kind, modular Critical Illness Policy

  • Covers 43 Critical Illnesses, both initial and advanced stages
  • Modular product allowing selection of waiting period, survival period and coverage from either or all 5 sections: Cancer Care, Cardiovascular Care, Kidney Care, Neuro Care, Transplants Care & Sensory Organ Care
  • Additional benefits like Dialysis care, Physiotherapy care, etc. in-built in the policy

Lucknow , April 6, 2021: Bajaj Allianz General Insurance today announced the launch of 'Criti-Care' a unique critical illness policy that allows the customers to design their coverage by selecting any or all 5 sections within the policy, waiting period as well as survival period. Thispolicy covers 43 critical illnesses, which include both initial and advanced stages as mentioned in the policy. The idea behind this product is to not only give customers the freedom to structure the policy as per their needs, but also provide them with much needed financial support in crucial times to recuperate faster.

Criti-Care is a benefit only policy which means that it paysa lump sum amount to the customers if diagnosed with listed ailment.The sum insured under each section ranges from Rs. 1 lakh to Rs. 50 lakh. The maximum total Sum Insured of the policy is Rs. 2 crore.  The 5 sections under the policy are - Cancer Care, Cardiovascular Care, Kidney Care, Neuro Care, Transplants Care & Sensory Organ Care. Each section has a specific list of ailments bifurcated as 'Category A' which comprises of initial stage ailments and 'Category B' for advanced stage ailments. If the claim falls under Category A, customer is eligible for 25% of the sum insured of that section and for a claim under Category B, 100% sum insured of the section is payable.

The customer can choose a waiting period of either 120 days or 180 days along with the survival period post diagnosis of 0 days, 7 days or 15 days.  This policy is available on individual basis and can be taken for a period of 1, 2 and 3 years. The premium of this policy varies depending on the Member Age, Sum Insured opted, Critical Illness 'Section' opted, Waiting Period and Survival Period. The customer can also avail additional benefits which are in-built in the policy up to the limit defined in the policy. These benefits include Cancer Reconstructive Surgery, Cardiac Nursing, Dialysis Care, Physiotherapy Care and Sensory Care.

Commenting on the launch, Mr. Tapan Singhel, MD & CEO, Bajaj Allianz General Insurance said,"We have observed that many people are becoming susceptible to critical illnesses due to changes in lifestyle, amongst other causes; and the treatment costs for such ailments can substantially affect a person's financial health. With our modular product Criti-Care, our aim is to not only allow our customers the freedom to design their policy as per their needs, but also provide them with much needed support through additional benefits like Dialysis care, Physiotherapy care, etc. that can help them with faster recovery. Thus, enabling them to stay worry-free and live a life of dignity."

The entry age for adults is 18years to 65years and for children it's 3 months to 30 years. There is no exit age under Criti-Care and the renewal is applicable for lifetime. Self, Spouse, Dependent Children and Grand Children, Parents and Parent-in-laws, Sister, Brother, Aunt, Uncle can be covered under the policy.The premium of this policy can be paid in instalments and discounts for wellness, long term, and online purchase are applicable as defined in the policy.

For Reference:

Illustration of premium calculation of Criti-Care policyfor 3 members for a one year policy

Waiting Period180 daysSections and Sum Insured (In Rs.)Premium excl. GST (In Rs.)
Survival Period7 days
 AgeCancer CareCardiac CareKidney Care
Member 13550,00,00050,00,00050,00,0005,200
Member 23325,00,00025,00,00025,00,0002,600
Member 3810,00,00010,00,00010,00,000930

Example for a claim in same section for both Category A and Category B

If the insured member is diagnosed with Cancer in Early stage or Carcinoma in situ (localized to the specific organ or area and has not spread to the other parts of the body), which falls under Category A, the pay-out would be 25% of the Sum Insured.

Subsequently, if this early stage cancer progresses into an Advanced Stage of Cancer (where it has spread to other organs in the body), the remaining 75% of Sum Insured would be paid out to the insured member.

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