Ageas Federal Life Insurance (AFLI) announced the launch of its Ageas Federal Life Insurance Criti Care Plan, a comprehensive health insurance plan covering 30 critical illnesses and major diseases. The policy provides a lumpsum payment on the first diagnosis of illness, regardless of the actual amount spent on treatment.
The company said, the age for entering the policy is a minimum of 18 years and a maximum of 65 years; with the policy providing coverage up to the age of 70 years. The policy term can be a minimum of 5 years to a maximum of 10 years with three premium payment options – Single Pay, Limited Pay and Regular Pay. The plan may also provide tax benefits under Sec 80D of the Income Tax Act, 1961.
Karthik Raman, CMO and Head – Products, Ageas Federal Life Insurance said, “In today’s fast-paced world, people are more prone to stress, anxiety and an unhealthy lifestyle leading to the onset of a critical illness. However, while a major disease may strike you unexpectedly, it is prudent to be covered with a critical illness plan such as our recently launched Ageas Federal Criti Care Plan, that eases the burden of expensive medical care and the possible loss of income during the recovery period.”
AFLI's new health plan provides level coverage throughout the policy term, covering 30 critical illnesses and offering lumpsum payment on the first diagnosis of illness, regardless of the actual amount spent on treatment. The plan can help in bearing the costs of expensive treatment, recuperation and possible loss or dip in income and also provides tax benefits.
Raman added, “We see that during a critical illness, the cost of treatment is largely covered by mediclaim plans. However, the cost of post treatment care and the subsequent lifestyle changes can dig into one’s life savings and hence, investing in this plan can help you and your family cope better with these costs.”