Compare Aviva Health Secure Plan

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Aviva Health Secure Plan

Aviva Health Secure plan is a critical illness health insurance plan which pays a lump sum benefit in case the life insured suffers from any covered illnesses during the term of the plan.

Key features of the plan

  • This is a health insurance plan which covers 12 major critical illnesses.
  • In case the life insured suffers from any covered illness during the term of the plan, a lump sum benefit is paid.
  • The plan is available online and thus can be conveniently bought.
  • If the policyholder chooses a Sum Assured of Rs.10 lakhs and above premium discounts are available.

How does the plan work?

Step 1 – the policyholder chooses the Sum Assured, the policy term and the premium paying frequency.

Step 2 – based on the life insured’s age and the above factors, the premiums are computed which are payable throughout the term of the plan.

Step 3- If the life insured suffers any of the 12 covered illnesses, the Sum Assured is paid in lump sum.

Step 4 – If the life insured dies during the term of the plan, no death benefit is paid.

Step 5 – if the plan matures and the life insured suffers from no covered ailments, no benefit is paid.

Example

Ravi, a noon-smoking male aged 40 years, buys Health Secure Plan for a cover of Rs.10 lakhs and for a term of 20 years.

Option 1 – the plan covers 12 critical illnesses. If Ravi suffers from any of the covered illnesses, Rs.10 lakhs is paid in lump sum.

Option 2 – If Ravi dies during the term of the plan, no benefit is payable.

Option 3 – if the plan matures and Ravi doesn’t suffer any ailment, no benefit is paid and the plan terminates.

Plan benefits

  • Illness benefit – 12 major illnesses are covered under the plan. If the life insured suffers from any illness which is covered under the plan during the term of the plan, the Sum Assured is paid. The life insured should survive for 30 days after diagnosis of the critical illness to claim the benefit.
  • Maturity Benefit – there is no maturity benefit under the plan
  • Death benefit – no benefit is payable in case the life insured dies during the term of the plan.  

Eligibility Criteria

  Minimum Maximum
Age at entry (in completed years) 18 years 55 years
Age at maturity (in completed years) NA 65 years
Term of the plan 10 years 30 years
Premium paying options Regular pay  
Premium Paying term Equal to the plan tenure  
Sum Assured Rs.5 lakhs Rs.50 lakhs

What is not covered by the plan?
Illnesses suffered during the first 90 days of the plan commencement are not covered.

If the life insured dies within 30 days of diagnosis of a covered critical illness, no benefit would be paid.

Pre-existing illnesses or conditions are not covered by the plan in the first 4 years of the policy

If the restoration benefit is activates, there is a cooling off period of 6 months during which no claim should be made. If a claim is made during this period of 6 months, no benefit would be paid.

Heart related illnesses due to failure to follow doctor’s advice, self-inflicted injuries or attempted suicide, alcohol or drug abuse, failure to seek medical advice, radioactive contamination, etc. are not covered by the plan.

Premium Illustration
Below are the sample rates of premium payable by a non-smoking male for different combinations of age, term and Sum Assured. Premiums are assumed to be paid annually.

 
Aviva-Health-Secure-Plan

FAQs

  • Can a lapsed policy be revived?
  • A lapsed policy can be revived within 1 year from the date of the last unpaid premium. For revival, a proof of continued insurability, outstanding premiums, any extra premiums and a revival fee of Rs.250 is required.

  • What is the free-look period?
  • The free-look period allowed is 30 days.

  • What are the premium paying modes?
  • Premiums are payable yearly or half-yearly.

  • What is the minimum premium?
  • The minimum premium is Rs.2000

  • What are the Sum Assured rebates allowed under the plan?
  • If the Sum Assured is Rs.10 lakhs to Rs.25 lakhs, the rebate allowed is Rs.0.90 per Rs.1000 Sum Assured. If the Sum Assured is Rs.25 lakhs and above the rebate is Rs.1.50 per Rs.1000 Sum Assured.

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