- Heart and cancer conditions are the most prevalent critical illness in India today
- Treatment of cancer and heart diseases can dent your finances in a big way
- Unlike regular health insurance plans, they cover more than just hospitalization costs
Many of us are conscious about leading a healthy lifestyle; however, at times we are unable to lead such a life due to work stress, a sedentary lifestyle or increased responsibilities, thereby taking a toll on one’s health. As per reports the prevalence of Cardiovascular and Cancer related illnesses has been on the rise in India. According to a World Health Organization report* (WHO), 61% of deaths in India are attributed to non-communicable diseases like cancer, heart disorders, and diabetes.
Although the treatment for these critical illnesses is available, they tend to be very costly. Often, the high costs become an impediment in availing the treatment. Adding to that the rising medical inflation paints a worrying picture. Financial prudence lies in securing yourself against high medical expenses by buying a comprehensive health insurance plan that provides protection against such critical illnesses.
Why heart and cancer insurance plan?
78 per cent of men between 30 and 34 run the risk of a heart attack. Cancer is the second largest killer in India. Treatment cost of such critical conditions can wipe your savings and can cost as much as ₹30-35 lakh.
Depending upon the stage and treatment method, these ailments can drain your savings, compel you to mortgage your assets and even borrow from others, thus pushing you into a vicious debt trap. A heart surgery or chemotherapy can easily cost lakhs of rupees, compelling you to spend your lifetime savings, which you might have saved for meeting other life goals.
Regular health insurance plans help take care of hospitalization costs. That is helpful when you get infected by mild diseases which do not incur high treatment costs. A normal health insurance plan may not be sufficient to cover the high treatment costs of critical illnesses, such as, cancer and heart related conditions. Also, even after treatment, a long duration of time is required for recuperation. During this phase one may not be able to go to work, which may affect the inflow of monthly income that supports the entire family.
Working of heart and cancer insurance plan
Exide Life Insurance brings to you its unique health insurance plan for heart and cancer related conditions - Exide Life Sanjeevani.
Exide Life Sanjeevani is a fixed benefit health insurance plan designed to cover cancer and heart related conditions. It pays a fixed sum of money to the insured upon diagnosis of heart and cancer conditions. The sum paid makes sure the treatment expenses are taken care of without bearing any crunch on the family of the insured.
Here’s a practical example elaborating the benefits of Exide Life Sanjeevani.
A 35-year-old auditor by profession, buys Exide Life Sanjeevani for 25 years, for a sum assured (SA) of ₹10,00,000 and an annual premium of ₹3720.
At 40 years of age he undergoes coronary angioplasty, which falls under the mild category condition. 25% of the insurance amount, that is, ₹2.5 lakh is paid out.
At 50 years he undergoes Carotid Artery Surgery, a condition that falls under the moderate category. 50% of insurance amount, that is, ₹5 lakh is paid. His premium is funded by Exide life Insurance for the next 5 years.
At 55, he undergoes a major Aorta surgery, which falls under the severe category condition. The remaining 25% of the insurance amount, that is, ₹2.5 lakh is paid. Thus, the total benefit that is paid is ₹10,00,000 in form of ₹2,50,000 under mild category + ₹5,00,000 under moderate category + ₹2,50,000 under severe category.
To know more about the Exide Life Sanjeevani Plan, click here.