HDFC Life Cardiac Care

HDFC Life Cardiac Care

With the alarming rise in incidence rates of cardiac ailments in India as well around the world and the rising costs of medical expenses, we at HDFC Life understand the need for exclusive financial protection specifically designed for cardiac conditions and procedures. In our endeavour to ensure that you stay financially healthy during a stressful time, we present HDFC Life Cardiac Care, a comprehensive plan aimed at providing financial protection in case you are diagnosed with a cardiac condition or are undergoing a procedure as covered under the policy.

1. Annual Premium amount Rs.1869 for Male aged 35 years, Base Benefit, 10 years term, Regular Pay option, Sum Assured=10 lakhs, excluding Taxes & levies as applicable.

Why you need this plan?
1. Cost of medical treatments is increasing every year.
2. Continuous post surgery treatments as well as elongated treatment sessions can adversely affect your finances.
3. It is important you evaluate if you will be able to cope up with all financial necessities incase you are afflicted with a cardiac disease.
4. A fixed benefit cardiac plan allows you to avail the best medical treatments by helping meet your medical needs and letting you use your savings for a rainy day.
5. You can tailor make your Cardiac Care plan as per your needs with additional plan options.

Features
1. Comprehensive cover for an extensive list of cardiac conditions and procedures
2. Fixed lump sum payout irrespective of actual expenses incurred for diagnosis/procedure
3. Multiple Claims of same or different conditions/ procedures can be covered subject to the exhaustion of applicable Sum Insured
4. Option to choose Indexation benefit to ensure you stay ahead of medical inflation
5. Option to choose Hospitalization benefit to get lump sum payout in case you are hospitalized due to any of the covered conditions
6. Tax benefits under Section 80D of the Income Tax Act 1961

Benefits

Choose ANY or ALL of the following benefit options to avail of HDFC Life Cardiac Care.

1. Intro

Please refer to the table below for the classification of the various conditions/procedures that are covered under the plan into 3 Groups that they belong to. The benefit payable shall depend on the Group where the condition belongs to as mentioned below:



HDFC Life Cardiac Care offers you Base Benefit as described below. In addition to this benefit you also have the flexibility to choose from the following optional benefits:

Option A: Hospitalization Benefit

Option B:Indexation Benefit

Option C:Income Benefit

You may choose any one or more of the optional benefits at the inception of the policy; however once opted, the plan benefits cannot be changed later during the Policy Term.

2. Base Benefit

1. In the event of occurrence or undergoing any of the conditions / procedures listed in the table above, you shall receive a fixed benefit equal to:

a. 100% of the Sum Insured under Group A

b. 50% of the Sum Insured under Group B

c. 25% of the Sum Insured under Group C

2. You have the flexibility to claim for the same or different conditions / procedures (falling under Group B & Group C) subject to the exhaustion of 100% of applicable Sum Insured (plus Indexation Benefit, if any) and Cooling-off Period. (Please refer to the section on Cooling Off Period)

3. In the event of occurrence / undergoing more than one condition / procedure the claim shall be payable for only one condition

4. Benefit payable to you shall not exceed unclaimed Sum Insured. Unclaimed Sum Insured shall be calculated as follows:

a. Unclaimed Sum Insured = Original Sum Insured - Total Benefits paid out (since inception)

5. The policy shall terminate on earlier of

a. payment of 100% of Sum Insured against all valid claims and

b. expiry of policy term

In addition to the Base Benefit, on valid claim for any covered condition falling under Groups B&C, future premiums for both base benefit & optional benefit (if any) shall be waived.

3. Hospitalization Benefit (HB)

1. In case you are hospitalized due to the occurrence of any of the covered and admissible conditions or have undergone any of the procedures as listed previously, the lump sum amount payable shall be as follow:



2. Non-ICU and ICU benefits shall be independent and subjective to their respective limits

3. The maximum claim limit during a policy year is limited to 10% of Original Sum Insured and maximum claim limit during the policy term is limited to 30% of Original Sum Insured for both Non-ICU and ICU benefits

4. In case, you have exhausted the maximum admissible limit under the Non-ICU benefit, Hospitalization Benefit (HB) shall continue with only the remaining limit under the ICU benefit and vice-versa

5. You may choose this option only at inception and the Benefit payable under Hospitalization shall be independent of the Base Benefit under this product

6. Benefit shall be payable only after a minimum of 24 hrs of hospitalization due to one of the covered and admissible conditions as per the plan and for which the claim has been successfully admitted

7. In case you have also chosen the Indexation Benefit, this Benefit shall increase with an increase in the Original Sum Insured through Indexation. However, the maximum Benefit payable under Hospitalization Benefit shall be subject to the limits mentioned above

8. In case the Hospitalization Benefit gets exhausted, you shall need to pay premiums only towards the other benefits i.e. Base Benefit and Indexation Benefit and/or Income Benefit if applicable, effective from the immediate following policy anniversary

4. Indexation Benefit (IB)

1. If no claim has been made during the first policy year, the Original Sum Insured opted for at the inception of the policy shall increase by 10% p.a. starting from the first policy anniversary

2. The Sum Insured shall continue to increase till earlier of:

a. maximum of 200% of the Original Sum Insured opted at policy inception

b. any claim event (excluding claim for hospitalization benefit)

3. You may opt for this option only at policy inception

4. Once there is a successful admission of a claim (Mild, Moderate or Severe), there shall be no further increase in Original Sum Insured.

5. Income Benefit

1. In event of occurrence/diagnosis of condition or procedure from those listed under Group A, you will receive 1% of Sum Insured opted at inception for a fixed period of 5 years

2. This benefit will be paid in addition to the base benefit and optional benefit (if any)

3. In case of the unfortunate event of death of policyholder during the income benefit period, the remaining payouts will be made to the nominee.

During the income period, future income payments or part thereof can be surrendered in exchange for a lump sum. This lump sum shall be the discounted value of the future income payments at the prevailing revival interest rate charged by the company.