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Imagine finding that your loved ones or you are going through a critical illness. Just imagine the pain, trauma, emotional difficulties, and stress that accomplishes such adverse news. Such kind of situations might halt your important life milestones. Now, imagine the pressure to pay hefty amounts for the treatment of a critical ailment. Fortunately, PNB Met Life Mera Term Plus is one such plan that can help you in difficult times.
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With an additional cover of critical illness, you can provide financial stability to you and your family members. Keep Reading this article for more detail!
Note: Know more about what is term insurance first before reading this article.
Term Plans
Critical Illness benefit refers to the coverage offered for long-term and serious illnesses that generally need expensive medical treatment. The covered illnesses could be heart diseases, cancer, renal diseases, third-degree burns, liver diseases, paralysis, etc. The coverage provided is a safe way to safeguard you and your family’s peace of mind. The plan generally means that the insurance company will offer a lump sum payment on the diagnosis of a critical illness.
You can easily buy a specially designed PNB Mera Term Plus Plan that covers the below critical illnesses:
| List of Critical Illnesses Covered Under PNB (Mera Term Plan Plus) | |
| Cancer of specified severity | Multiple Sclerosis with persisting symptoms |
| Myocardial Infarction – First Heart of specified severity | Benign Brain Tumor |
| Open Chest CABG | Blindness |
| Open Heart Replacement and Repair of Heart Valves | Deafness |
| Coma of specified severity | End-Stage Lung Cancer |
| Kidney failure requiring regular dialysis | End-Stage Liver Failure |
| Stroke Resulting in Permanent Symptoms | Speech loss |
| Major Organ/Bone Marrow Transplant | Limbs Loss |
| Permanent Paralysis of Limbs | Major Head Trauma |
| Motor Neuron Disease with permanent symptoms | Primary Pulmonary Hypertension |
| Third Degree Burns | Alzheimer’s Disease |
| Aplastic Anaemia | Cardiomyopathy |
| Medullary Cystic Disease | Muscular Dystrophy |
| Parkinson’s disease | Poliomyelitis |
| Systemic Lupus Erythematosus with Lupus Nephritis | Apallic Syndrome |
| Brain Surgery | Aorta Surgery |
| Rheumatoid Arthritis | Severe Crohn’s Disease |
| Ulcerative Colitis | Pneumonectomy |
| Pulmonary Aorta Graft Surgery | Progressive Scleroderma |
| Bacterial Meningitis | Good Posture’s Syndrome |
| Multiple System Atrophy | Encephalitis |
| Creutzfeldt-Jakob disease | Fulminant Viral Hepatitis |
| Chronic Recurrent Pancreatitis | Spinal Stroke |
| Syringomyelia | Devic’s disease |
| Benign spinal cord tumor | |
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In this, the policyholder receives a lump sum amount on the diagnosis of critical illnesses specified above in the plan. As per the terms and conditions of the plan, detection of critical ailments may either continue or terminate the plan. Therefore, it is important to check the coverage amount before choosing any rider. PNB Met Life Mera Term plus plan has come up with a unique critical illness cover that includes lifestyle diseases as well. In addition to this, a policyholder can also opt for the benefits of hospitalization and non-hospitalization costs.
When you buy a term insurance plan with a critical illness cover, you can buy the following critical illness benefits:
This plan acts as an income replacement
The policyholder is not required to spend an extra amount as the premium amount stays the same
You can get double tax benefit with this add-on
It provides you additional coverage that can help fulfill your medical and daily expenses
It offers coverage for all major illnesses such as cancer, heart attack, bypass surgery, kidney failure, stroke, etc.
Note: You can easily calculate the term plan premium by using the term insurance calculator online tool.
If the maximum term of the plan is 30 years, then the coverage of the plan continues even after the benefit of claiming
Save taxes u/s 80C and 80D of the ITA, 1961.
The benefit sum payable is equivalent to the cover of critical illness that the life assured has selected
The total SA as chosen under the plan is paid in case of total permanent disability or death of the policyholder
No minimum survival time and the term insurance benefits is payable instantly based on the 1st diagnosis
The death claim can be settled within 21 days of receiving the receipt of all important documents
The policy buyer can easily buy a plan online by paying premiums in installments.
When it comes to the security of you and your loved ones, it is a wise decision to prepare for the worst and hope for the best. You can do the same by buying a critical illness benefit with a term plan for yourself and your family members. Go through all the above-mentioned points so that you can make an informed decision.
Note: Check out the best term insurance plan in India and choose one that suits your requirements.
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
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