Life Expectancy in Health Insurance
When a critical illness listed in the policy is diagnosed, essential covers of disease, which are available under health insurance plans, pay out a lump sum to the insured. Being a health insurance policy, the cost of treatment would be covered; however, no death benefit is available if the person passes away due to the illness. One can now manage all aspects of insurance using a health insurance app in India
Why is the Survival Period Important?
Your one-time payment can go a long way toward helping you cover the high costs of treating these illnesses. You must follow several terms and conditions to be eligible to receive the benefit. The Survival Period is one such prerequisite. If the insured person is found to have one of the listed critical illnesses, the health insurance provider may pay a predetermined amount if they live for an amount of time specified.
Only critical illnesses covered by a health policy may be eligible for the survival period in individual health insurance. This is primarily found in health insurance’s essential illness coverage, which covers severe illnesses like cancer, kidney failure, etc.
Therefore, the insurer generally pays for the treatment or lump sum amount as specified in the policy if you live the minimum number of years following the diagnosis of a critical illness.
What Role Does The Survival Period Play?
In health insurance, the survival period is crucial. You can access benefits faster the shorter the health insurance survival period is. Therefore, before making a purchase, read all the terms and conditions and try to comprehend the clause regarding the survival period. Manage your policy using an online health insurance app.
Do Not Mix up the Waiting Period and the Survival Period
You should be aware of the distinction between the waiting and survival periods when purchasing Bajaj Allianz health insurance OPD coverage. Although they may sound alike, they are very different. Only critical illness insurance policies use the term “survival period,” which refers to the minimum amount of time a person must live after receiving an essential illness diagnosis to be eligible for benefits. The minimum duration of time a person must wait before becoming eligible for the policy benefits is known as a waiting period. This term can be found in all health insurance policies. The waiting period begins on the day the policy is purchased.
Be in control of your policy using a health insurance app in India.
Bajaj offers a range of comprehensive insurance solutions to meet diverse healthcare needs. Among their offerings, the Critical Illness Insurance Plan and the Health Prime Rider (OPD cover) stand out. The Critical Illness Insurance Plan provides vital financial protection in the event of a severe health setback, ensuring that you and your loved ones are financially secure during challenging times. On the other hand, the Health Prime Rider (OPD cover) is designed to enhance your regular health insurance policy by covering outpatient expenses, such as doctor’s visits, diagnostics, and medicines. These Bajaj products are well-crafted to provide comprehensive health coverage, ensuring that you can focus on your well-being without worrying about financial burdens.
Get insured anytime, anywhere! Check out the Bajaj Allianz General Insurance website to learn more and download the app now.
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
