The Life and CI Rebalance option provides protection against CI and death by automatically balancing life and CI coverage as the beneficiary ages. Life insurance will decrease, but insurance for serious illness will increase proportionally with each anniversary of the insurance policy. In addition, if any of the 36 CI conditions listed is diagnosed, a guaranteed increase in CI will be paid, all future premiums will be exempted and life insurance will continue.
At the start of the policy, the basic total guaranteed is split into life insurance and serious illness insurance in a ratio of 80:20. The company also ensured that the base total amount was the same throughout the insurance policy.
HDFC Life’s chief actuary, Srinivasan Parthasarathy, said of providing insurance for serious illnesses: It is expensive and can even lead to an economic recession for the whole family. Therefore, it is essential to have a policy that can cover the cost of treatment without being absorbed in savings. The Life and CI Rebalance option available in Click 2 Protect Life allows policyholders and their families to be financially prepared to manage serious illnesses. “
HDFC offers life insurance and serious illness rebalancing options under its flagship products, Health News and ET HealthWorld.
Source link HDFC offers life insurance and serious illness rebalancing options under its flagship products, Health News and ET HealthWorld.