Reliance Health Total Insurance Plan
This plan has been withdrawn by the insurance company and is no longer available for sale
Key Features
Benefits
hospitalisation due to illnesses or injury, minor & major surgeries and other domiciliary expenses, incurred in India only. The details of Hospitalisation Benefit are as follows:
1. Major Surgical Benefit (MSB): 100% of Sum Insured is paid if the Life assured is hospitalised for at least 24 hours to undergo any one of Major Surgeries. Below are the surgeries covered in MSB:-
- Hip or Knee joint replacement surgery necessitated due to an accident only
- Heart valve replacement surgery
- Excision of tissue of brain with craniotomy
- Transplantation of Heart
- Coronary artery bypass surgery
- Bone marrow transplant
- Liver transplantation (recipient)
- Renal transplantation (recipient)
- Total Excision of Esophagus and Stomach
- Transplantation of lung
2. Surgical Cash Benefit (SCB): 5% of Sum Insured is paid if the Life assured is hospitalised for at least 24 hours and is case of multiple surgeries, the amount paid will be 5% of sum insured.
3. Daily Hospital Cash Benefit (DHCB): 0.5% of sum insured is paid, for 24 hours hospitalization.
4. Intensive Care Unit (ICU) Benefit: 0.5% of Sum Insured per day will be payable for the duration of stay in the ICU.
5. Recuperation Benefit (RB): 1.5% of Sum Insured is payable, once in a policy year, if the Life assured is hospitalised for 7 or more continuous days for the same injury or disease. The benefit is not payable if the patient dies during hospitalisation.
6. Critical Illness (CI) Benefit: 100% of Sum Insured will be payable on confirmed diagnosis of the Life Insured suffering from one of the insured Critical Illness. Below are the illnesses covered:-
- Cancer
- Heart Attack
- Stroke
- Major Burns
- Loss of Speech
- Loss of Hearing
- Alzheimer’s disease
- Parkinson’s disease
- Coma
- Terminal Illness
7. Medical Reimbursement Benefit (MRB): includes reimbursement for medicines and drugs, medical equipment’s (such as BP machine, thermometer, etc.), Out-patient (less than 24 hours) treatment, diagnostic expenses, dental treatment, maternity expenses, spectacles or contact lenses, annual health check-up. Below is the benefit payable:
| Poliy year | 2 | 3 | 4 |
| MRB (as a % of annual premium) | 25 | 50 | 60 |
The policy offers option to add following riders, by paying additional premiums over and above the base premium:
- Reliance Accidental Death Benefit & Total and Permanent Disablement Rider,
- Reliance Critical Condition and
- Reliance Major Surgical Benefit Rider
How it works
1. Illustration of MRB and cover cost:
Sum Insured opted = Rs.2,00,000
Annual premium = Rs.15,000
The sum insured covers him for Hospitalization and Critical Illness Benefit. He can claim the MRB as below:
| Policy Year | 2 | 3 | 4 | 5 | Total |
| MRB (as a % of annual premium) | 25% | 50% | 60% | 205% | 340% |
| MRB amount (in Rs.) | 3,750 | 7,500 | 9,000 | 30,750 | 51,000 |
Final workout, with Tax amount under section 80D, under highest 30% income tax slab, Rs. 23,175 projected tax savings.
| Sum Insured | 5 years premium | Approximate Tax benefit u/s 80D |
Total MRB | Net Effective Cost per annum |
| Rs. 2,00,000 | Rs. 75,000 | Rs. 23,175 | Rs. 51,000 | Rs.165 |
So, the net effective cost for sum insured 2 lacs can be only Rs. 165, as shown in the above table.
2. Illustration of benefits (Total summary of benefits): In the 4th policy year, if life insured suffers from heart attack, undergoes heart surgery, and hospitalised for 14 days, out of which 4 days in ICU and 10 days under recuperation. During this period, the life assured also incurs cost on medicines, tests and doctors’ fees etc. His/her family receives the following benefits under the plan:
| Benefit | How does it work | Benefit amount |
| Critical Illness (CI) Benefit | 100% of Sum Insured | Rs. 2,00,000 |
| Major Surgical Benefit (MSB) | 100% of Sum Insured | Rs. 2,00,000 |
| Daily Hospitalization Cash Benefit (DHCB) | Rs. 1000 *14 days | Rs. 14,000 |
| Intensive Care Unit (ICU) | Rs. 1000 *4 days | Rs. 4,000 |
| Recuperation Benefit (BI) | 1.5% of Sum Insured | Rs. 3,000 |
| MRB/Medicines through Out-patient treatment | 60% of yearly premium | Rs. 9,000 |
| Total Amount received towards comprehensive Health benefits | Rs. 4,30,000 | |
Tax Benefit
Tax benefits as a deduction from the taxable income each year under section 80D of the Income Tax under the existing tax laws of the Income Tax, 1961, on premiums paid up to Rs. 25,000 in case of individuals and Rs 30,000 for senior citizens.
Eligibility
| Parameters | Minimum | Maximum | |
| Policy Term (in years) | 5 | ||
| Entry Age | Option I | 18 years | 65 years |
| Option II | 18 years | 55 years | |
| Renewal Age | 23 years | 99 years | |
| Premium | 10,000 | 50,000 | |
| Sum Insured | 66,667 | 6,66,667 | |
| Premium Payment Term (years) | 5 | ||
| Premium Payment option | Regular | ||
| Grace period | 30 days from the date of expiry | ||
| Premium Payment Modes | Yearly and Monthly (through ECS and direct debit) | ||
Plan Options
Option I = Annual premium = 150.00 per 1,000 Sum Insured
Option II = Annual premium = 75.00 per 1,000 Sum Insured
Sum Insured options in detail
| Plan option | Benefit Comparison | Sum Insured Multiple (as a multiple of Annual Premium) |
| I | Higher Medical Reimbursement benefit | 6.66667 |
| II | Higher Sum Assured | 13.33335 |
Exclusions
The standard policy exclusions are –
- Any pre-existing ailment/injury that was diagnosed/acquired within 48 months prior to issuance of the first policy
- War, invasion, act of foreign enemy, terrorism, civil war, public defence, rebellion, revolution, insurrection, military or usurped acts, nuclear weapons/materials, chemical and biological weapons, radiation of any kind.
- Suicide and illegal acts
- Participation or involvement in naval, military or air force operation, racing, diving, aviation, scuba diving, parachuting, hang-gliding, rock or mountain climbing
- Drugs and alcohol, treatment of nicotine addiction
FAQs
Can I attach additional riders to the plan?Yes, you can attach,
Can I opt for loan under this policy?No
Can I change the policy term?The policy term is fixed for 5 years and cannot be altered.
Is there any paid up or surrender value?No, the policy does not acquire, any paid up surrender value
Can I pay premium after the premium due date?You can pay the premium within 30 days from the premium due date, this period is called as “grace period”
What if I stop paying premium?The policy will be lapsed if the due premiums are not paid within the grace period. The claims will not be honoured, if the policy is in lapsed status. If the lapsed policy is not revived within 2 years of the due date of the first unpaid premium then the policy will be terminated.
Can I revive my lapsed policy?Yes, within two years from the due date of the first unpaid premium but before policy maturity date.
