Best Critical Illness Term Insurance Plans 2022 in India
Illnesses can happen to anyone without notice and will drain you out utterly. Critical illnesses are the most fatal and require extensive care and treatments. Such treatments are not only expensive but also give you immense financial stress. Moreover, in the worst-case scenario, you may need to quit your job, which will enhance your angst and anxieties. That’s why term insurance with critical illness riders was introduced that helps you deal with this emotional torment situation and your healthcare expenditures. With term insurance with critical illness cover, you will get a lump sum amount if you were diagnosed with any of the below-mentioned critical illnesses.
Top 36 Critical illnesses covered by term plans in India
Term insurance plans cover 36 critical illnesses. These illnesses are,
- Heart attack
- Heart valve replacement due to defects or abnormalities
- Coronary artery diseases
- Aorta surgery via thoracotomy or laparotomy
- Kidney failure
- Fulminant viral Hepatitis or massive necrosis of the liver caused by a virus that can lead to liver failure
- Major organ transplant including Kidney, Lungs, Liver, Heart, and Bone marrow
- Paralysis or Paraplegia
- Multiple sclerosis
- Primary pulmonary Arterial Hypertension
- Permanent blindness
- Permanent deafness
- Permanent loss of speech
- Alzheimer’s disease
- Parkinson’s disease
- Third-degree burns covering at least 20% of the surface area of the body
- Terminal illness
- Motor neuron disease
- Chronic liver disease
- Chronic lung disease
- Major Head trauma
- Muscular dystrophy
- Benign brain tumor
- Bacterial meningitis
- Brain surgery (Craniotomy)
- Serious coronary heart diseases
- Apallic syndrome
- AIDS contracted by medical staff
- AIDS due to blood transfusion
- Full-blown AIDS
7 Best Critical Illness Term Insurance Plans in India 2022
Let’s check out some of the best term plans with critical illness coverage as mentioned below:-
- Bharti Axa Life Flexi Term Plan
- Bajaj Allianz eTouch Online Term Plan
- Kotak Life e-Term Plan
- Max Life Term Plan
- Edelweiss Tokio Term Insurance
- SBI Life Poorna Suraksha Plan
- HDFC Critical Illness Rider Term Plan
1. Bharti Axa Life Flexi Term Plan
- This term plan covers critical illnesses till the age of 75. You can select either the comprehensive cover (34 illnesses) or major illnesses cover (15 illnesses) at the policy’s inception.
- This term plan offers 3 different life coverage payout options (Lump sum, monthly income [monthly payout for next 15 years] and lump sum plus monthly income [50% will be given to the beneficiary at the time of death and the rest amounts will be given as monthly payouts for next 15 years)
- Future premiums will be waived off under this term plan
2. Bajaj Allianz eTouch Online Term Plan
Bajaj Allianz eTouch online term plan offers life, accidental, and health insurance along with the benefit of premium waiver to policyholders. This plan comes with 4 variants.
- Shield: Life benefit plus waiver of premium benefit in the case of accidental total permanent disability
- Shield Plus: Life benefit plus accidental total permanent disability benefit and waiver of premium (in the case of accidental total permanent disability)
- Shield Super: Life benefit plus accidental death benefit, accidental total permanent disability benefit, and waiver of premium (in the case of accidental total permanent disability)
- Shield Supreme: Life Benefit plus accelerated critical illness, accidental total permanent disability benefit, and waiver of premium (in the case of accidental total permanent disability or critical illness). If the policyholder requires angioplasty, then Rs. 5 lakh will be paid to the policyholder.
3. Kotak Life e-Term Plan
This is the budget-friendly term insurance plan that offers the highest financial protection to your family. This plan comes with 3 different variants.
- Life Option: 100% sum assured on death.
- Life plus option: 100% sum assured on death + accidental benefit.
- Life Secure option: 100% sum assured on death+ waiver of premiums on total and permanent disability.
Kotak term plan critical illness rider: under this rider term plan, the sum assured will be payable in part or whole if the insured policyholder is diagnosed with any of 37 critical illnesses.
4. Max Life Term Plan
By adding Max Life critical illness rider and disability rider to your base insurance policy, you can enhance your protection against an unfortunate diagnosis of the listed critical illnesses. Some benefits of this rider plan are,
- Comprehensive critical illness cover: Option to choose a Gold variant (coverage of 22 CI) or Platinum variant (coverage of 64 CI)
- Total and Permanent Disability variant: This rider offers coverage on Total and Permanent Disability
- Extended cover: You can cover yourself or your loved ones for as long as 67 years (up to age 85)
5. Edelweiss Tokio Term Insurance
- By opting for Edelweiss Tokio critical illness rider, you can strengthen your base term life policy. Under this term insurance rider, if you are diagnosed with one of 12 listed critical illnesses, you will receive 100% of the rider sum assured after 30 days of diagnosis.
- The maturity age of Edelweiss Tokio Life Critical Illness rider is between 23 to 70 years of age.
- To purchase this rider, you can choose various payment options like Single Pay, Regular Pay, and Limited Pay.
6. SBI Life Poorna Suraksha Plan
SBI Life Poorna Suraksha Term Plan comes with an in-built critical illness rider. This plan automatically balances your life and critical illness cover as you get older to enhance your protection.
This Term Insurance product with critical illness cover offers:
- Security: Comprehensive protection in case of death and critical illness
- Simplicity: Re-balances your life and critical illness cover every year
- Reliability: If you are diagnosed with any of 36 critical illnesses, you will receive the sum assured that will support your financial condition. You will also be eligible for the waiver of all future premiums.
7. HDFC Critical Illness Rider Term Plan
This rider plan is introduced to protect your and your family financially. This rider provides a lump sum benefit on the diagnosis of any one of the 19 critical illnesses. You are free to choose this rider on inception or any subsequent policy anniversary of the base policy.
These are the best term plans with critical illness cover. Always consider a term plan with a critical illness rider as it supports you during the most difficult phase of your life. To enjoy a high degree of convenience, you should compare various term plans with critical illness riders and choose the most suitable one. Comprehensive term insurance with critical illness cover will give you the best protection and secure your future in case of any untoward ailments.