Heart disease are deadly and are on rise in India and so is the treatment cost. In fact, the cost is so high that it can wipe-off the personal savings of the individual substantially. Since the income rise of an individual is less compared to the rising healthcare cost, it is recommended to buy medical insurance cover which lets policy holder to take care of themselves while insurer takes care of the money required for the treatment.
However the traditional health insurance does not fully cover heart related ailments and in most cases related to critical illness such as heart problems, insured person has to shell out money from his/her pocket as well. Adding to the pain is individuals who already have some kind of heart problems as they face difficulty when planning to buy health insurance in India or have to shell out high premium. The reason is very simple – the risk to the insurer is very high since the treatment cost is very for heart related ailments.
For e.g. In case of heart attack, minimum treatment cost is Rs. 4, 00,000. And for bypass surgery the cost is Rs. 6, 00,000.
So to avoid losses not all insurance companies in India offer health insurance for heart conditions. However there are few insurance companies (life and health) who have launched products specifically offering coverage for treating heart related ailments but with certain terms and conditions.
Listed in the below table are details of the life/health insurance for minor and major heart conditions.
|Insurance Company Name||Product Name||Sum Insured||Premium (Rs.)||Type of Insurance|
|Star Health and Allied Insurance Co Ltd||Star Cardiac Care Insurance Policy - Silver Plan||Rs. 3,00,000||Rs. 16,632 - Rs. 19,128||Health|
|Rs. 4,00,000||Rs. 19,010 - Rs. 21,860||Health|
|Star Health and Allied Insurance Co Ltd||Star Cardiac Care Insurance Policy - Gold Plan||Rs. 3,00,000||Rs. 22,172 - Rs. 25,500||Health|
|Rs. 4,00,000||Rs. 25,341 - Rs. 29,410||Health|
|Future Generali India Life Insurance Company Ltd.||Future Generali Heart and Health Insurance Plan||Rs. 5 Lacs - Rs. 50 Lacs||NA||Life|
|HDFC Life Insurance||HDFC Life Cardiac Care||Rs. 2 Lacs to Rs. 50 Lacs||Rs. 357 pm - Rs. 14,43,435||Life|
|ICICI Prudential Life Insurance||ICICI Pru Heart Protect Plan||Rs. 25,00,000||Rs. 268 pm||Life|
|Aviva Life Insurance Company India Ltd.||Aviva Heart Care||Rs. 20,00,000||Minimum Rs. 237 pm||Life|
|PNB MetLife India Insurance Company Limited||PNB MetLife Mera Heart and Cancer Care||Rs. 5 Lacs - Rs. 40 Lacs||Minimum Rs. 257 pm||Life|
|Exide Life Insurance Company Limited||Exide Life Sanjeevani||Rs. 5 Lacs - Rs. 25 Lacs||Rs. 2,905 per year||Life|
What is so unique in these cardiac plans?
The main objective of all the cardiac care plans is to give peace of mind to the family without worrying about the finances. And when taken in addition to the standard health plan, the benefits further increase.
Although each insurer offers varying features and benefits in their insurance policy, but you will find most of the following features:
- Protects financially for various heart conditions and associated medical procedures such as angioplasty, stenting, heart transplant, cardiomyopathy and others. Money is also paid for non-medical expenses.
- Plan can be customized with inclusion and exclusion of the procedures.
- Lump sum amount is paid on detection.
- Comprehensive coverage is provided in all stages.
- Multiple claims can be made till the limit for sum insured gets exhausted.
- Insurance plans offers tax benefit under section 80D of Income tax act.
- Premiums can be paid monthly/quarterly/yearly so that one-time payment does not become burden.
- Premium discount to existing customers.
- If no claim is made then there is an increase in cover.
- Premium is waived off when insured person gets permanently disabled.
There are many other features/benefits offered by each insurer. And it’s always recommended to do a thorough research before buying insurance for cardiac ailments.