Tackling critical care

Sanjay Tiwari talks about critical care insurance

  • Tackling critical care

By OLM Desk

Why does one need a fixed benefit health insurance solution?

Advanced medical care has increased the chances of survival from critical illnesses. The extremely high cost of treatment can be a huge cost debilitating the savings and income of an individual, during and post hospitalisation. While indemnity policies cover you for hospitalisation expenses, the fixed benefit insurance solutions provide you a fixed lump sum amount on diagnosis of the critical illness. The fixed lump sum benefit relieves you from the monetary tensions thus allowing a reasonable recuperation period.

That’s where Exide Life Sanjeevani steps in to help you be prepared financially. The plan is distinct from standard critical illness policies as it provides a fixed lump sum benefit on diagnosis of early and major stages of Heart and Cancer related conditions waives future premiums and also allows you to claim in addition to any existing health insurance.


Why only heart and cancer as conditions in Sanjeevani?

Heart and Cancer related conditions in our country have become prevalent amongst all the major illnesses. Over 80 per cent of critical illness claims are related to Heart Attack, Stroke, Bypass Surgery and Cancer. Exide Life Sanjeevani covers all these prevalent illnesses for Heart and Cancer and provides a fixed lump sum benefit on diagnosis of early and major stages, unlike most plans which provide the benefit during the severe stage. It also helps in reducing the overall cost of the policy as it aims to cover the major targeted conditions.


What is the scope of cover under this policy and who is it suitable to?

We have classified the covered Heart and Cancer related conditions under 3 categories – Mild, Moderate and Severe. These categories are based on severity of the diagnosed illness and define the extent of payout made to you as a percentage of your chosen sum assured which is payable on diagnosis.

Mild Category: 25 per cent of the chosen sum assured is paid to you on diagnosis.

Moderate Category: 50 per cent of sum assured is paid. As conditions under moderate category because of the severity and longer recovery time can have an impact on your savings as well as future savings, Exide Life Insurance will pay premium for next 5 years on your behalf. 

Severe Category: 100 per cent of sum assured is paid to you on diagnosis.

While you may have an existing indemnity cover, it is prudent for everyone to have adequate financial protection due to the extremely high cost of heart and cancer related treatment.

Sanjay Tiwari, Executive Vice President - Product Management, Exide Life Insurance


Is this a standalone policy or one has to take this with a life cover?

Exide Life Sanjeevani is a standalone policy and there is no compulsion to take a life cover along with it.


What has been the response so far with this policy?

Exide Life Sanjeevani is the first fixed benefit health insurance plan offering comprehensive coverage against heart and cancer related conditions. The response has been impressive as we have covered more than 8000 customers under the plan.



Sanjay Tiwari is Executive Vice President - Product Management, Exide Life Insurance