HDFC Life has launched a fixed-benefit insurance plan that covers 18 heart conditions, called HDFC Life Cardiac Care.
These 18 conditions are classified into three categories as per the severity – High Severity, Moderate Severity and Mild Severity. A lump sum benefit is given to the insured as per the category.
Highlights:
- A fixed benefit plan that covers 18 heart conditions
- Provides waiver of premiums and the facility for multiple claims for conditions of the same or different severities
- Additional benefits such as Hospitalization Benefit, Income Benefit and Indexation Benefit are available
HDFC Life has a research oriented approach for understanding customer needs. Cardiac Care is designed based on the insights from HDFC Life’s Health Planning Index (HPI). The product is designed to meet the needs of a typical working Indian who leads a fast-paced lifestyle. Cardiac ailments are on the rise among young Indians who are stress-prone.
When such a lifestyle is combined with unhealthy habits such as eating junk food, lack of exercise, use of intoxicants, etc. it increases the chances of cardiac ailments. These diseases can have a huge impact one’s finances.
Ambulance rides, diagnostic treatment, hospital stays and surgeries can deplete one’s savings as well as hamper one’s earning capabilities. Further, the cost of medical treatment keeps increasing and it is necessary for individuals to be financially prepared to deal with such costs which would otherwise drain their savings.
Mr. Subrat Mohanty, Sr. Executive Vice President, said – “This product is designed to provide financial protection from cardiac ailments. In addition to a lump sum payout on diagnosis, the plan offers benefits such as waiver of premiums which ensures that individuals can meet expenses for the treatment over the long-term (for moderate to mild categories). An individual can make multiple claims for conditions of the same or different severities.”
“A number of cardiac conditions or procedures which are usually not covered or are excluded under critical illness policies are covered under HDFC Life Cardiac Care Plan. The Indexation benefit in the product provides an automatic increase of cover which takes care of increasing medical costs. Additional benefits such as hospitalization benefit and income benefit are offered, to ensure maximum convenience for customers,” said Mohanty.
