Birla Sun Life debuts long-term cardio policy

MUMBAI: Birla Sun Life Insurance (BSLI) has launched a long-term health insurance cover for heart and kidney ailments - the first time such a policy has been launched for 25-year tenure.

Announcing the cover Anil Singh, chief actuarial officer, BSLI said that India had four crore citizens suffering from cardiac diseases and there were 20 lakh people suffering a heart attack every year. Heart diseases account for 16% of all deaths in the country with the number of cases growing up every year.

The BSLI CritShield plans return 30% of the sum assured on early detection of cardiac or renal illness and 100% of the sum assured on a major stage of the illness.

Unlike regular health policies, the CritiShield is a long-term policy with level premium. In other words, the insured will pay the premium applicable to the age group corresponding to the age at which he bought the policy. However, the premium tables would be revised every five years

A 25-year-old male can get a Rs 20-lakh cardiac cover for a premium of Rs 2,670 while the premium will be only Rs 1,370 for females. For renal cover the premium would be Rs 2,390 and Rs 2,750 respectively.

"Around 25% of all deaths in the 25-29 age group are due to heart attack. Those who survive it do so because they get timely treatment," said Singh. He added that treatments relating to kidney ailments were witnessing a 21% growth and there would be a need for this cover.