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Understanding Critical Insurance

The LifeStage rebalancing feature of SBI Life Poorna Suraksha Plan rebalances the cover between Critical Illness and Life Cover. <br>https://www.sbilife.co.in/en/individual-life-insurance/traditional/poorna-suraksha<br>

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Understanding Critical Insurance

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  1. Understanding Critical Insurance

  2. What is Critical Insurance ? • Features of Critical Illness Insurance: • Lump sum payout, if policy holder is diagnosed with life threatening disease. • Waiver of all future premiums after such diagnosis. • Cover increases on policy anniversary, while premium remains fixed. • Automatic adjustment of life and critical illness cover on anniversary. • Eligible for income tax benefits, as per applicable laws. SBI Life Poorna Suraksha or critical illness cover is a non-linked and non-participating pure risk premium product. It offers comprehensive cover against death and 36 illnesses.

  3. Benefits of Critical Illness Insurance Replaces policy holder’s income, to support the family Tax exemption under Section 80D of the Income Tax Act Helps you focus on treatment, while without worrying about funds Lets you travel abroad for advanced treatment Pays all medical bills and hospitalization expenses Offers comprehensive cover against death and 36 critical diseases.

  4. What Does Critical Illness Insurance Cover? • Stroke • Kidney Failure • Cancer • Major Burns • Speech Loss • Poliomyelitis • Deafness • Terminal Illnesses Heart Attack Coronary Artery Disease Heart Valve Replacement Brain Tumor and Surgery Alzheimer’s Disease Major Head Trauma Bacterial Meningitis AIDS Chronic Liver Disease

  5. How Does the Life Insurance and Critical Illness Combination Work? The LifeStage rebalancing feature of SBI Life Poorna Suraksha Plan rebalances the cover between Critical Illness and Life Cover. The policy offers effective protection, based on the chosen term. At every anniversary, there is an increase in the Critical Illness Sum Assured, with a change in sum insured. The Basic Sum Insurance is split between the Life Cover Sum Assured and Critical Illness Sum Assured in an 80:20 proportion, respectively. There are no maturity benefits under this plan.

  6. Things to Consider Before Buying a Plan Consider your current health condition. Consider your current financial situation. Pick a plan offering comprehensive coverage. Consider your lifestyle and the risks of certain diseases. Understand the scheme’s benefits and conditions well. Consider your family history of medical ailments. Check if your current health cover has a critical illness add-on.

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