IFFCO-Tokio Launches Critical Illness Benefit Policy
- Covers 25 Critical Illnesses and Surgeries.
- All family members covered in a single policy including parents and parents in law.
- A person up to the age of 50 years can buy the policy without any medical tests.
- Sum insured of up to ₹1 crore is offered.
- Lifelong renewal.
Gurugram, August 5, 2019: IFFCO-Tokio General Insurance Company Limited, announced the launch of its latest health insurance product - Critical Illness Benefit Policy.
Critical Illness Benefit Policy is a benefit policy that is designed to mitigate the financial hardship of persons in case of critical illness or sustained a critical injury that requires incurring a large sum for the treatment along with maintenance of the family. The policy provides payment of a lump-sum amount in case a person is diagnosed with a critical illness such as cancer, organ transplant, Alzheimer's, bypass surgery, etc. Apart from critical illnesses the policy also covers medical events such as blindness, deafness, loss of speech and loss of limbs.
The policy covers 25 listed critical illnesses, medical events or surgical procedures, during the policy period. The sum insured available to choose from ₹1 lakh to ₹1 crore.
One of the significant features of the plan is that all family members can be covered in a single plan including spouse, children, parents, and parents-in-law. It is a cost-effective policy with discounts being offered on family options. The premium starts from ₹257 for a sum insured of ₹1 lakh for a person less than 25 years of age. For the higher sum insured of ₹10 lakh and ₹1 crore, the same person can buy the policy at ₹2,566 and ₹25,657, respectively.
Announcing the launch, Mr. Warendra Sinha, Managing Director, and CEO, IFFCO-Tokio General Insurance Company Limited said, “The cost of treating life-threatening diseases is generally much higher compared to the cost of treating common ailments. Keeping this in mind IFFCO-Tokio has launched Critical Illness Benefit Policy which is another step towards our mission to improve the well-being of our customers. The policy provides an additional layer of protection to our customers by offering a lump sum amount on the diagnosis of a critical illness.”
The comprehensive plan offers a customized protection solution to our customers ranging from the sum insured, period of insurance (1 to 3 years) to the number of family members who can be covered in the policy.
About IFFCO-Tokio General Insurance
IFFCO-Tokio General Insurance Company Limited is a 51:49 joint venture between the Indian Farmers Fertilizer Co-operative (IFFCO), one of the world’s biggest cooperative societies which are wholly owned by Indian Cooperatives, and Tokio Marine Group, which is the largest listed insurance group in Japan. The company was incorporated on 4th December 2000.
IFFCO-Tokio General Insurance Company Limited offers retail products like motor, health, travel, home, and personal accident insurance and corporate products like property, marine and liability insurance through its wide distribution network of agents, banks, brokers, etc. and its website -www.iffcotokio.co.in.