critical illness insurance

1. What is Critical Illness Insurance • It is insurance that pays a lump-sum benefit at the diagnosis of a covered condition • According to the 2012 National Critical Illness Insurance Buyer Study some 29 percent of male buyers and 31 percent of female buyers purchased benefit levels of Rs-10,000 or less.Fewer than one in 10 male buyers (9%) and only eight percent of female buyers purchased over Rs-50,000 in protection..

2. Critical Illness Facts and Figures • Men have slightly less than a 1 in 2 lifetime risk of developing cancer; for women the risk is a little more than 1 in 3 • About 780,000 INDIANS will have a stroke this year – that’s someone every 40 seconds • About 1,200,000 heart attacks will occur this year – 64% are new attacks and 36% are recurrent attacks. An additional 175,000 silent heart attacks are estimated to take place every year.

3. Western & Southern Life’s Critical Illness Insurance Policy • Pays you 100% of the maximum benefit amount in a lump-sum upon diagnosis of one of the following conditions (as defined in the policy) • Life Threatening Cancer (Subject to Special Limitations set forth if first diagnosed within 90 days after the policy date or date of last reinstatement. Heart Attack (Myocardial Infarction)End Stage Renal Failure Major Organ Transplant

4. Renewal This Policy will automatically terminate at the end of the Policy Period and we are under no obligation to give intimation in this behalf. In the event that we receive an application for renewal, we may renew the Policy on the terms as to premium and otherwise as offered by us at that point in time. In respect of all applications for renewal received by Us before the end of the Policy Period, subject to the afore stated, We will ordinarily offer renewal terms unless We believe that You or the Insured Person or anyone acting on Your behalf or on behalf of an Insured Person has acted in a dishonest or fraudulent manner under or in relation to this Policy or the renewal of the Policy poses a moral hazard. We shall in all cases be entitled to call for and receive any information or documentation before agreeing to renew the Policy. We will provide a grace period of 15 days for renewing the policy. If policy is renewed within 15 days from the due date of renewal, the policy cover will be considered continuous in terms of continuity benefits such as waiting periods and coverage of pre-existing diseases. To avoid any confusion any claim incurred during break-in period will not be payable under this policy. The policy shall lapse after the expiration of the grace periodWe may vary the renewal premium payable with the approval of the IRDA.

5. Critical Illness InsuranceProvides Choices • Pay off debts, mortgage, etc • Move to a less stressful job • Work fewer hours • Take a leave of absence

6. The Choice Is Yours • Critical Illness Insurance provides: • Benefit Amounts paid in a lump-sum • Benefit is paid income-tax free • Financial flexibility • Sense of control over your life  • Money at time of need, when you need it most  • Money for you, not your beneficiary

7. Dispute Resolution Clause Any and all disputes or differences under or in relation to this Policy shall be determined by the Indian Courts and subject to Indian law. If any dispute or difference shall arise as to the quantum to be paid under this policy (liability being otherwise admitted) such difference shall independently of all other questions be referred to the decision of a sole arbitrator to be appointed in writing jointly by You and Us or if we cannot agree upon a single arbitrator to be appointed within 30 days of any party invoking arbitration, the same shall be referred to a panel of three arbitrators, comprising of two arbitrators, one to be appointed by You and Us respectively and the third arbitrator to be appointed by the two arbitrators, which arbitration shall be conducted under and in accordance with the provisions of the Arbitration and Conciliation Act , 1996, as amended from time to time and for the time being in force.It is clearly agreed and understood that no difference or dispute shall be referable to arbitration as hereinbefore provide, if We have disputed liability under or in respect of this Policy. It is hereby expressly stipulated and declared that it shall be a condition precedent to any right of action or suit upon this policy that the award by such arbitrators of the amount of the loss or damage shall be first obtained.

8. Contact: Phone Num: 09034315151 Email: info@quickbima.comWebsite: https://www.quickbima.com/https://www.quickbima.com/health-insurance/compare-surgery-critical-illness-insurance