National Insurance Critical Illness Policy covers medical expenses incurred for the critical illness by the insured. This policy covers you and your family against 6 major critical illnesses.
A lump sum amount is paid to the insured on diagnosis of any of the specified 6 critical illnesses. To make the claim, the insured needs to survive for 30 days after the diagnosis has been made.
Features & Benefits of National Insurance Critical Illness:
| Entry Age | 20 years – 65 years |
| Policy Period | 1 year |
| Renewability | The policy can be renewed till the insured is 65 years of age. |
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Basis |
Covers the individual as well as the family. |
| Sum Assured |
There are 4 levels of Sum assured: Level I- Rs.5 Lakhs. Level II- Rs.10 Lakhs. Level III- Rs.20 Lakhs. Level IV- Rs.25 Lakhs. |
| Coverage |
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| Tax Benefit | The premiums paid up to Rs.15,000 on the policy is allowed as deductions every year under the Section 80D of the Income Tax Act. The exemption for senior citizen is Rs.20,000. |
| Exclusion |
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This policy is beneficial for those who have a family history of these critical illnesses, so that they medical expenses won’t be a burden on the insured, in case he suffers from it. It is advisable to be prepared for the worst in advance.
Disclaimer: Please read and check the details of the policy to see if it meets all your requirements.
Also Read: How to File a Claim with National Insurance?
