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HDFC Life Critical Care Plan

HDFC Life Critical Care Plan

HDFC Critical Care Plan is a Critical Illness Benefit Plan. It is a Traditional Plan without Bonus facility.

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Critical Illness
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Death Benefit
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Income Tax Benefit
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Key Features

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It is a Critical Illness Plan without Bonus facility
The policy can be taken for 5 to 20 years of tenure
Critical Illness

On diagnosis of any Critical Illness mentioned, a lumpsum amount is paid for recovery

  • 100% of the Sum Assured is paid on diagnosis of Group A Critical Illness and the policy terminates
  • 50% of the Sum Assured is paid on diagnosis of Group B Critical Illness and the policy continues for the reduced Sum Assured
There is Large Sum Assured discount in this plan
There is no Death, Surrender or Maturity Benefit in this plan
This plan covers as many as 30 critical illnesses
There is a facility to change premium amount, frequency, policy tenure and sum assured, but only after completion of 3 policy years

Benefits

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Death Benefit

There is no Death Benefit under this plan.

Maturity Benefit

There is no Maturity Benefit under this plan.

Critical Illness Benefit
If the Life Insured is diagnosed with a Critical Illness of Group A, as mentioned, then 100% of the Sum Assured is paid for recovery, irrespective of the actual amount spent in treatment and the policy terminates.
If the Life Insured is diagnosed with a Critical Illness of Group B, as mentioned, then 50% of the Sum Assured is paid for recovery and the policy continues with the reduced Sum Assured. If another diagnosis of any Group A or Group B Critical Illness is done, then the remaining 50% of the Sum Assured is paid and the policy terminates.
Group A Critical Illnesses- Cancer, Coronary Artery Bypass Graft Surgery (CABGS), Heart Attack, Kidney Failure, Stroke, Major Organ Transplant (as a recipient)
Group B Critical Illnesses -Come, Loss of Sight, Major Burns, Loss of Speech, Parkinson’s disease, etc.
Income Tax Benefit

Life Insurance premiums paid up to Rs. 15,000 are allowed as a deduction from the taxable income each year under section 80D which is extended upto Rs 20,000 p.a. for Senior Citizen.

Riders

There are no additional riders in this plan.

How it works

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This plan pays a lumpsum amount of money on diagnosis of any of the mentioned critical illnesses. If the Life Insured is diagnosed with a Critical Illness of Group A, as mentioned, then 100% of the Sum Assured is paid for recovery, irrespective of the actual amount spent in treatment and the policy terminates.
However, if the Life Insured is diagnosed with a Critical Illness of Group B, as mentioned, then 50% of the Sum Assured is paid for recovery and the policy continues with the reduced Sum Assured. If another diagnosis of any Group A or Group B Critical Illness is done, then the remaining 50% of the Sum Assured is paid and the policy terminates.

In this plan, premium needs to be paid throughout the entire period of coverage in monthly, half-yearly or annual modes . The policy can be taken for 5-20 years. There is no Death, Surrender or Maturity Benefit in this plan.

Sample illustration of premium amount in HDFC Critical Care Plan

The below illustration is for a Healthy Male opting for a Sum Assured of Rs 5,00,000 for a tenure of 20 years.

 

HDFC Life Critical Care Plan Sample Premiums

Eligibility

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Minimum
Maximum
Sum Assured (in Rs.)
2,00,000
20,00,000
Policy Term (in years)
5
20
Entry Age of Life Insured (in years)
18
55
Age at Maturity (in years)
-
65
Premium (in Rs.)
1500
No Limit
Payment modes
Monthly, Quarterly or Annually

FAQs

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angle down iconWhat if I stop paying the premium?

 If the policy holder stops paying the premium, the policy lapses and all benefits cease.

angle down iconWhat if I want to surrender the policy?

There are no surrender benefits under this plan.

angle down iconWhat if I want a loan against your policy?

 Loan facility is not available in this plan.