ICICI Prudential Life launched ICICI Pru Heart, Cancer Protect. The unique feature of this product is that it pays part of the insurance cover amount to the customer on diagnosis of a Heart ailment or Cancer. Thus, the customer gets the necessary financial support and freedom to choose the best available treatment to address the medical condition.
Even after the payment on diagnosis, the policy continues without the customer having to pay any future premiums. Customers have the flexibility to choose the type of cover, either for Heart or Cancer or have the option to purchase both covers.
Heart ailments and Cancer together account for over 50% of casualties among Indians. Medical research suggests that India has the highest rate of cardiac arrests1 in the world and it is estimated that 2 lakh heart surgeries are conducted every year. Cancer cases are expected to rise by 25%2 by 2020. Every 13th new cancer patient is from India.
Today, with state of the art medical facilities available, both Heart disorders and Cancer can be effectively treated, if detected early and the patient has the required financial resources to get appropriate medical intervention.
The Heart, cancer Protect product has been designed to enable customers to meet the costs of treating these conditions. The fact that the payment is made on diagnosis means that the individual has the freedom to choose the right kind of treatment at the right time.
It also comes with an add-on benefit called income replacement which provides 1% of the insurance cover as monthly payments to the customer. This will offset any temporary loss of income which an individual may have to face, while undergoing the medical treatment.
Heart, cancer Protect also offers customers the option of increasing the amount of cover every year. This feature is meant to help keep pace with the ever rising cost of medical treatment.
The affordability aspect makes the product attractive. For as low as Rs.100/-4 per month a customer can get a Cancer cover for Rs.20 lakh or a Heart cover for Rs.10 lakh.