National Insurance Critical Illness Policy

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National Insurance Critical Illness Policy

	Objective		A standalone critical illness policy that aims to provide financial support in case of contracting any of the listed illnesses.
Suited for		This can be bought by individuals with a family history of any of the listed critical illnesses. Others can also buy this policy for additional coverage.
What does it do?		If the insured contracts any of the critical illnesses, the insurance company will pay a lump sum as agreed upon in the policy document. It covers six critical diseases. In order to make a claim it is necessary that policyholder survives for at least 30 days after confirmed diagnosis of the illness.
Pros		Premium paid towards the policy is eligible for taxation benefits under section 80D of Income Tax Act.
Cons		It covers only six critical illnesses.
Our View		While buying a critical illness policy, one must go for a policy covering maximum number of illnesses with least number of exclusions. This policy offers a narrow coverage by including only six illnesses. Those considering to buy this policy must look at the kind of coverage other insurers are offering.
Eligibility
Entry Age (years)
Minimum			20
Maximum			65
Coverage Type			Individual
Policy Term (years)			1
Sum Insured (Rs)
Maximum			25 lakh
Minimum			5 lakh
Customer Service
Address			Head Office: National Insurance Company Limited 3 Middleton Street Kolkata West Bengal Pincode : 700071
Mail to			website.administrator@nic.co.in
Call to			1800 419 4033

 

	Scope Of Cover
Critical Illnesses
Coronary Artery Surgery		covered upto 20% of sum insured
Cancer		covered
Renal Failure (failure of both kidneys)		covered
Stroke		covered
Multiple Sclerosis		covered
Major organ transplants like lung, kidney, pancreas or bone marrow		covered

 

	Exclusions and Waiting Period
Pre-existing illnesses		not covered
Survival period		30 days after confirm diagnosis of critical illness for making a claim
Waiting period		any illness during first 90 days from inception of the policy will not be covered

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