Future Criticare Plan

Future Criticare Plan Review

Future Criticare is a standalone Critical Illness Plan which provides a lump sum benefit if the insured is diagnose with any one of the covered critical illnesses. This is a fixed benefit plan wherein the lump sum benefit provided would be irrespective of the actual medical costs.

Highlights of the Future Criticare Plan

• This is a Critical Illness Plan which covers 12 major illnesses.
• The plan benefit is provided on diagnosis of the illness itself.
• The plan can be taken either on an Individual Sum Assured basis or on a Floater basis for the family which includes self, spouse, dependent children and dependent parents.
• For ages up to 45 years and Sum Assured up to Rs.5 lakhs no pre-entrance medical check-ups are required. In other cases where such check-ups are required, 50% of the cost of such check-ups is reimbursed by the company upon plan acceptance.
• The plan can be renewed lifelong.

Working of the Future Criticare Plan

The policyholder chooses the Sum Assured. Based on the coverage amount and age, premiums are determined.

• If the insured is diagnosed with any of the 12 critical illnesses covered by the plan, the Sum Assured is paid in lump sum.

Benefits and Features of Future Criticare Plan

• Plan Benefits– The Sum Assured is paid on diagnosis of any critical illness covered by the plan. The insured has to survive for 28 days after a diagnosis is made to claim the benefits. The illnesses covered by the plan include: 
  • Cancer of specified severity 
  • Kidney failure which requires regular dialysis
  • Primary Pulmonary Arterial Hypertension 
  • Liver Failure
  • Multiple Sclerosis with persisting symptoms
  • Major organ or bone marrow transplant
  • Open chest CABG
  • Aorta Graft Surgery 
  • Stroke resulting in permanent symptoms
  • Myocardial Infarction (first heart attack) of specified severity 
  • Coma of specified severity 
  • Total blindness
• Tax benefits – The premiums paid for the plan are exempted from tax up to a specified limit under Section 80D.

Eligibility Criteria of Future Criticare Plan

The plan can be bought only by permanent Resident Indians for themselves and their family. The other eligibility criteria of the plan include:

	Minimum	Maximum
Entry age	6 years	65 years
Plan tenure	1 year
Premium payable	Depends on the age and Sum Assured chosen
Sum Assured	Rs.1 lakh	Ages up to 45 years – Rs.50 lakhs Ages above 45 years – Rs.20 lakhs

Additional Benefits of Future Criticare Plan

• Premium rebates– The plan offers a Family Discount. If more than one family member is covered under the same policy, a premium discount of 5% to 50% is allowed depending on the age of the members covered. 
• Portability – If the proposer wants to port his existing health insurance plan taken from another company to this plan, he can do so. Such portability should be requested at least 45 days before the expiry of the previous policy which is being ported. 
• Free Look Period – A cooling off period or a free look period of 15 days is granted to the policyholder after the policy issuance to review the policy terms and conditions. If found unsatisfactory, the plan can be cancelled within this period and the premium paid would be refunded after deducting the relevant mortality charge, service tax, cess and stamp duty paid.

Premium Illustration

The following chart shows the sample premium rates based on the age of the eldest member at different Sum Assured levels:



The table below gives a quick tabular reference to the above chart:

Age	Sum Assured 5 lakhs	Sum Assured 10 lakhs	Sum Assured 15 lakhs
35 years	1,788	3,785	5,954
40 years	3,009	6,610	9,611
45 years	4,485	9,562	14,038

Exclusions in Future Criticare Plan

• Pre-existing illnesses are not covered under the plan.
• Claims made within the first 90 days after policy issuance would be excluded. 
• There is a survival period of 28 days post diagnosis of the illness after which claim would be paid. 
• Maternity related coverage is not available.
• Epidemic ailments and debilitating ailments are excluded. 
• Treatments which are not medically necessary are excluded. 
• Hospitalization due to suicide or self-inflicted injury, alcohol or drug abuse, participation in hazardous sports and activities, criminal act, war, commotion, consequential loss, pregnancy and related causes, defense related operations, curative treatments, aviation, radioactive contamination, circumcision, cosmetic treatments, STD or HIV, etc. would also be excluded.