The critical illness can be contagious to life as well as to the financial security of the family. To protect your finances in such times, Max Bupa has come up with a Critical Illness plan: CritiCare. The plan provides coverage against critical illness/diseases.
Max Bupa Criticare Policy is designed especially for people who are diagnosed with any of the listed 20 critical illnesses and allows them to protect their savings from being wiped out while availing of expensive medical treatments.
Learn more about Max Bupa Critical Illness Plan :
The CritiCare Plan provides two coverage options-
|Entry Age||Adults - 18 -65 years|
|Sum Insured (in Rs.)||Rs. 3 lakhs to Rs. 2 Crore|
|Provides Coverage for 20 critical illnesses|
|Payable Sum insured in family option|| Self: 100 % of sum insured
Spouse: 100% of Sum insured
**Last Updated on August, 2021
If an individual Criticare plan has been chosen, then the facility of lump sum payment is available to the insured on the sum insured. This means at the time of critical illness claims the insured will get the whole sum insured amount.
A lump-sum payment would be made on a claim based on the detection of critical illness during the policy tenure. In addition, 10% of the sum insured will be paid to the beneficiary for a continuous 5 years from the date of a lump-sum payment. While the coverage will terminate for that member and the policy continues for the other insured.
In the case of a family floater, the benefit chosen is applicable to both the adults. In case, insured 1 is detected with critical illness, then the company will pay the lump sum amount. The rule of the policy is that in one particular year only one member can avail of the benefit option. The other insured person will get the benefit amount in the next year or when the issue of critical illness is detected but not in the same year.
|Sum Insured (in Rs.)||3L/ 5L/ 7.5L/ 10L/ 15L/ 20L/ 30L/ 35L/ 40L/ 45L/ 50L/ 60L/ 75L/ 100L/ 125L/ 150L/ 175L/ 200L/ 225L/ 250L/ 275L/ 300L|
|Tenure of the policy||One, two, or three years|
|The number of members can be included||Maximum 2 adults|
|Minimum and maximum age of entry||18 to 65 years|
|Critical Illness||20 Critical Illness covered|
|Free look period||15 days to review the policy/30 days in case of a 3-year policy|
|Tax Benefit||Save tax by paying the premiums under Section 80D of the Income-tax Act|
|Claim Settlement||Direct settlement of a claim by Max Bupa without the involvement of the third party|
|Pre-existing Disease||Covered after 48 months|
|Pre-policy check-up||Required for 46 years & above/ for sum insured more than 10 lakhs|
|Plan option|| You can go for any of the following six options,
Criticare + AccidentCare + HospiCash CritiCare + AccidentCare CritiCare + HospiCash AccidentCare + HospiCash CritiCare Only AccidentCare Only
|Waiting periods|| For Pre-existing diseases - 48 months
Under HospiCash Benefit - 24 months for specific conditions
**Last Updated on August, 2021
The Criticare plan provides financial assistance for 20 ailments listed below-
Max Bupa Health Insurance Network Hospitals are present in 32 states nationwide. With a wide network of hospitals, Max Bupa Health Insurance ensures that you are medically secured, irrespective of the city you reside in.
This graph illustrates the premium payable by an individual at different sum insured options ranging from Rs 5 lakh to Rs. 25 lakhs. Let's understand the 1 year monthly premium price payable by the insured for two members against the indicated sums insured from the graph:
Premium Payable by an individual at a different sum insured under Criticare Plan
We have seen above that how the premium varies on the basis of the sum insured. With the increase in age, the premium amount increases due to lifestyle changes, smoking habits, pre-existed illnesses, and other factors. For your better understanding, we have prepared a graph. The graph represents how the monthly premiums payable for a sum insured of Rs. 20 Lakhs against a 1 year policy change with age.
Premium Payable by an individual at different ages under Criticare Plan
Let's understand this with the help of an example,
Ashutosh took a CritiCare plan of Rs 50 lakhs for him and her spouse. Ashutosh is 35 and his wife is 33. The annual income of primary insured i.e Ashutosh is Rs.10 lakhs.
The policy was taken for two years and the premium decided was Rs. 38,626*. The couple opted for Benefit Option 2 (please refer above to the Benefit Options).
Ashutosh was detected with a critical illness after 10 years from the inception of the policy. He claimed for the hospitalization expenses incurred on the treatment of the disease which was accepted by the company. He received a lump-sum payment of the sum insured and his share of benefit will terminate. Now, his wife is the only beneficiary of the policy and will receive 10% of 50 lakhs every year for 5 continuous years counting from the date of a lump-sum payment.
*The premium paid was after the online discount (10%) and 2 years policy discount (12.5%).
Please Note: The sum insured taken must not cross 12 times of the income, if you are salaried class and 15 times, if self-employed.
You can either buy from the company or from PolicyX.com. Below are the steps to buy Max Bupa health plans.
Max Bupa Company's Website
Let's discuss the Max Bupa health insurance renewal process. Follow the below steps to renew your policy easily: