During the policy term, a lump sum amount is provided by the policy on the diagnosis of the illness, as well as certain congenital disorders. In addition to this, the unique feature of this Women Critical Illness Plan is that there is a Children Education Bonus for the future education of the policyholder's children and loss of job.
Nowadays, many of the critical diseases are treatable with the advancement of science, but even then such illness cause a major blow to a family's finances.
The earlier Critical Illness Plan Bajaj Alliance did not cover some women-specific illness and hence the new Women Critical Illness Plan has been designed to cover these illnesses. This plan helps the woman provide for the treatment of the critical illness and also secures her and her children's future in case of loss of employment.
This plan is available to women of age 25 years to 55 years and sum insured from Rs. 50,000 to Rs. 2 lakhs. The premium ranges from Rs. 250 per year to Rs. 5,500 approximately, depending on the age and sum insured. The lump sum amount is payable if the policyholder survives 30 days after diagnosis of the critical illness.
The fatality of certain women-specific illnesses is increasing as per the recent statistics by WHO. Women in India are becoming increasingly prone to some critical illnesses today, in comparison to a few years ago.