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New Delhi, Aug. 1 ICICI Prudential Life Insurance, the country’s largest private life insurance company, has launched a new health insurance product Crisis Cover. The new product provides a comprehensive cover against disease, disability and death to the policyholders.

Addressing a press conference here on Wednesday, Ms Shikha Sharma, Managing Director, ICICI Prudential Life Insurance, said: “Crisis Cover is unique because it offers widest coverage against 35 critical illnesses, total and permanent disability, and death, over the long-term making it the most comprehensive critical illness plan available in the country.”

The 35 conditions covered by the product include angioplasty, brain surgery, coronary artery, bypass surgery, kidney failure and heart attack.

“With such a comprehensive list of illnesses, the plan would provide cover against disease related to most of the body organs and even loss of senses. The applicable sum assured is paid in the event of being diagnosed with a critical illness or on being rendered totally disabled or on death, whichever occurs first,” Ms Sharma said.

The conditions are divided into two groups, which determine the payout advantage to the policyholders. Group 1 includes conditions like cancer, brain surgery, blindness, heart attack etc. The full sum assured is paid on diagnosis, after which the policy closes.

Group 2 offers coverage continuation and includes conditions like angioplasty, deafness and multiple sclerosis, Alzheimer’s disease, etc.

“On diagnosis of these conditions, a sum assured up to a certain amount is paid and the policy continues for the balance sum assured for the remaining critical illnesses, disability and death. The premium is proportionately reduced for the balance sum assured,” she said.

The policy comes with a term ranging from 10 to 50 years and can be taken by individuals between 18-60 years. The sum assured under the plan can be between Rs 3-20 lakh.

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