Nowadays, we hear a lot about incidences with cardiac ailment in our surroundings. Many of us worry that if we come across such ailments then how we will manage the medical expenses. Let us keep our worries to rest because with HDFC Life Cardiac Care one can live tension free.
This policy is specially designed to give financial protection to the patient as well as to his/her family members. HDFC Life Cardiac Care is 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.
There are various benefits of this policy. Let us have a closer look at these –
But before we look at these benefits, let’s have a look at these 18 heart conditions which have been divided into 3 groups based on the severity. The Benefits payable in this policy will solely depend upon these 3 groups –
A) Base Benefit –
If the policyholder goes through any of the above conditions then the benefits payable will be equal to –
i) 100% of the Sum Insured under Group A
ii) 50% of the Sum Insured under Group B
iii) 25% of the Sum Insured under Group C
B) Hospitalization Benefit –
In the policyholder is hospitalized due to any covered conditions or have undergone any of the procedures listed previously then, a lump sum amount will be payable as follows –
C) Indexation Benefit –
If the policyholder has made no claim during the first policy year, then the Original Sum Insured opted for at the inception of the policy shall increase by 10% p.a. starting from the first policy anniversary.
The Sum Insured shall continue to increase till earlier of :
i) Indexation Benefit can be opted only at policy inception.
ii) There shall be no further increase in the original sum assured, once there is a successful admission of a claim (Mild, Moderate or Severe).
D) Income Benefit –
HDFC Life Cardiac Care also has some eligibility conditions. Let us have a look at them –
Minimum and Maximum Entry Age
Minimum and Maximum Maturity Age
|Premium Payment Mode
Single premium –
Minimum and Maximum Sum assured
Minimum and Maximum Premium
RP represents regular premium and SP represents single premium
Is there any death or maturity benefit offered in this policy?
There is no death benefit or maturity benefit under this policy. The policy shall terminate at the end of the policy term.
Is there any surrender benefit or value under this policy?
There is no surrender value in case of regular pay option, but in case of single pay option the surrender value paid out is calculated as per the below-given formula –
Is there any survival period to become eligible for benefit pay-out ?
Yes, there is a survival period to become eligible for benefit pay-outs. Any benefit under this policy will be paid only if the policyholder survives for a period of 30 days from the date of occurrence of the Covered condition.
Can the lapsed policy be revived again?
Yes, the lapsed policy can be revived within 2 consecutive years from the date of the first unpaid premium provided all the due premiums have been paid with interest.
Can I cancel the policy if I didn’t like its terms and conditions?
Yes, if the policyholder didn’t like its terms and conditions, then the policyholder can return the policy within 15 days from the date of receipt of the policy. This period is called the Free Look Period.
If the policyholder had purchased the policy through the Distance Marketing mode ( it is a mode where insurance policies are sold through telephone, internet etc apart from face to face interaction), then the free look period will be of 30 days.
So by now you all know every detail about this policy. Now it’s up to you to decide will this policy be helpful for you or not. Let me know your views in the comment section. If you have any questions regarding this policy then please let us know in the comment section.
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