Ageas Federal Life Insurance (AFLI) recently announced the launch of its new healthcare plan that covers the treatment of 30 critical illnesses and major disorders.
The Ageas Federal Life Insurance Criti Care Plan, unveiled on December 06, 2022, entitles the insured to critical illness benefits including paying towards expensive treatment and bearing the costs of recovery, especially, in the face of loss of income due to grievous illness.
The insurance company would hand over the predetermined health cover in lump sum as the insured is first diagnosed with the illness. This is different from most other health insurance plans that only pay for the actual cost of treatment.
The handing over of the insurance amount in a lump sum allowed the insured enough freedom to get treated anywhere instead of being restricted to seeking treatment only at hospitals listed in the insurer’s network.
One must be at least 18 years old to buy the policy. The age limit to buy this health insurance plan goes up to 65 years, which is quite fair considering the current situation where many people are being increasingly prone to critical disorders.
The policy provides coverage up to the age of 70 years. One may choose from among three payment options including single pay, limited pay and regular pay. One can also avail of tax benefits under Section 80D of the Income Tax Act, 1961.
Explaining the importance of having this health coverage in today’s times, 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, which eases the burden of expensive medical care and the possible loss of income during the recovery period.”
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.”
This new policy is a fresh take on how people view health insurance as it relieves one of the liability to buy separate health and critical illness policies as this kind of cover assures dual benefits under one health insurance plan.