July 9, 2015

Product review: Edelweiss Tokio Life - CritiCare+

                  Having a fitting term life insurance is of utmost importance in today's life.  A good budget insurance plan not only takes care of your emergency medical needs but also helps you in sorting out your tax issues. We are living in an era where there is no dearth of mediclaim plans.There are a number of Insurance companies which are providing health insurance and critical disease policies.So what makes Edelweiss Tokio Life- CritiCare+ ,really different from the rest? Well,this post is going to be my take on that.
1.The focus on Critical Illnesses- The main issue which I have with many of the other mediclaim plans which are available in the market is their 'lack of focus'. Most of the other health plans aim to 'cover' too many diseases and in that process,they inadvertently end up missing/ excluding a couple of the 'most critical' of the illnesses,which matter the most to the patients.It's in this aspect,Edelweiss Tokio Life-CritiCare+ scores big time- In this plan,almost all of the major critical diseases are covered and 'taken care of'.The critical illnesses are divided into four groups/clusters for the multiclaim option.So,the diseases which potentially require surgical intervention like Stroke,first episode of Heart Attack(Myocardial Infarction),Kidney Failure,Open Chest CABG,major Organ Transplant(Heart,Kidney) are included in the first group while diseases like major burns,total blindness,Coma,permanent paralysis find their place in the second.The third and fourth groups comprise of  Aplastic Anaemia,Cancer,Benign Tumour,Other Organ Transplant and MND/Multiple Sclerosis respectively.The benefits under the single claim option and the multi claim option(claim can be made three times during the policy tenure under this option) are quite superior when compared to the other products in the market,the details of which can be read here.
2.Ease of applying and minimal paper work- How many times have you given up on applying for a medical insurance policy just because you found the application process to be too cumbersome and time consuming? Frankly speaking,I have done it a couple of times! Applying for Edelweiss Tokio Life- CritiCare+ CritiCare+ is quite easy and and they even offer the convenience of buying it online! It obviously can't get easier than this.
3.The 'Free Look Period'- Edelweiss Tokio Life- CritiCare+ comes with a 'free look period' of 15 days(30 days in case of policies sold through distance marketing).Now,in case you are wondering what this 'free look period' is, well,I'll explain- the company gives the customer a grace period of 15/30 days (after the receipt of the policy) to carefully go through the intricacies of the product (coverage amount,policy specifications and other terms and conditions under the policy) and if he/she finds them to be disagreeable,the policy can be returned within this 'free look period',the premium paid by the customer getting refunded in the process.
4.Sensible Terms and Conditions and affordable life insurance rates- Doubts? Well,read this one and figure it out!
5.Attractive Product Features- Well, this is something which makes me absolutely root for  Edelweiss Tokio Life-CritiCare+.The minimum entry age for this product is 18 years whereas the maximum(last birthday) is 65 years.Another unique thing is the comparatively lower waiting periods (initial waiting period/waiting period between claims).The policy term is also quite flexible (5-30 years).
6.Tax benefits - Edelweiss Tokio Life- CritiCare+ also ensures tax benefits for premium and claim amount.
I firmly believe,Edelweiss Tokio Life- CritiCare+ is the best affordable life insurance plan which is currently available in the market.


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