Financial Planning
2024-05-14 5 Min read
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Critical or life-threatening diseases can be physically and mentally challenging. Not only emotional turmoil but serious diseases can pose severe financial strain as well for both patients and their families. Managing hefty medical bills amid constantly high medical inflation, medicines and post-treatment follow-up expenses can often put you in a financially compromising state. Hence, you need to think beyond hospital expenses.
Critical illnesses are considered to be not just physically traumatic but financially draining too. This dual hardship makes having the right health insurance coverage all the more essential. SUD Smart Health Care is one such health insurance plan that offers comprehensive support. Investing in this fixed-benefit policy can help you mitigate the devastating financial impact of critical illnesses.
Get predictable financial support with SUD Smart Health Care.
SUD Smart Health Care is a step towards a financially secure future for yourself and your family. With a range of benefits, Smart Health Care can be your one-stop solution to almost all kinds of serious illnesses. Here are some of the striking benefits of investing in SUD Smart Health Care:
1.It offers comprehensive protection
SUD Smart Health Care has three varied plan options that you can choose from. You may assess your overall health and future health analysis to reach a practical decision. The plan options are:
● Heart Cover:
It covers a wide range of minor and major heart diseases.
● Cancer Cover:
Cancer can be as life-threatening and quite expensive to treat. So, this plan covers different types of cancer
● Heart, Liver, Kidney, and Cancer Cover:
It is a comprehensive cover that includes major and minor heart, kidney, and liver diseases, along with cancer treatments.
2.There’s no restriction on how you use the payout
SUD Smart Health Care is a critical illness cover that pays out the lump-sum amount when a listed critical illness is diagnosed. You do not have to wait till hospitalization or bill submissions. Upon diagnosis itself, the lump-sum amount is paid out, and there is no restriction on how you use the amount. You may use the amount to cover hospitalization costs, household expenses, clearing out fees for your children, traveling expenses, and so on.
3.Coverage for minor as well as major illnesses
One of the best parts about SUD Smart Health Care is it covers both major and minor critical illnesses. In all three plan options, as aforementioned, major and minor illnesses are covered. For a minor illness, the insured receives 25% of the sum insured (up to 2 times/policy tenure) and 100% of the sum insured in case of a major illness (once/policy tenure).
4.The claim settlement is quick and easy
The claim settlement process with critical illness covers like SUD Smart Health Care is quite easy, simple, and hassle-free. Since the plan offers a lump-sum payout upon diagnosis of a listed critical illness, the patient does not have to go through the lengthy claim process of a regular health plan. All you have to do is raise a claim and submit the diagnosis reports. After approval, the eligible lump-sum amount is disbursed into the registered bank account.
5.It can supplement your corporate health plan
Have you thought of your corporate health plan and its effectiveness in managing high medical expenses? A group or corporate health plan often comes with a modest sum insured. When supplemented with SUD Smart Health Care, it can suffice your medical needs to a great extent. You may no longer have to struggle for another source of financial reliability when it comes to serious illnesses.
6.It covers the gap in the expenses and your regular health plan coverage
A regular health insurance plan may not cover all your expenses, such as the affected income due to hospitalization, grocery, traveling costs, and so on. With SUD Smart Health Care, you can utilize the high sum insured to cover this expense gap. It acts as a second source of income that covers the inadmissible expenses that occur due to the hospitalization of the insured.
7.The premium is affordable
Premium is the primary concern for many people when planning a health insurance plan. With SUD Smart Health Care, you have a range of premiums to choose from. The affordable premiums cover a wide range of individuals who can otherwise not afford a very hefty premium rate.
8.You can choose the premium paying frequency as per your preference
SUD Smart Health Care gives individuals the freedom to choose the premium paying frequency according to their financial comfort. You may pay it monthly, half-yearly, quarterly, or annually. For this, you may evaluate your other ongoing financial commitments to figure out a suitable term.
9.You can cut back on your taxes
SUD Smart Health Care not only saves you from exhausting your hard-earned savings during hospitalization but also compensates in tax benefits. Under Section 80D of the Income Tax Act of 1961, you can avail up to ₹25,000 (₹1 lakh for senior citizens) tax deductions against SUD Smart Health premium.
10.The policy offers peace of mind
Above everything comes the mental peace that a health insurance plan offers. When you know you have a strong financial backup, you need not compromise other essential expenses. Also, with an adequate health plan comes quality healthcare services that further reduce the stress and anxiety that may trigger during hospitalization.
1.It offers comprehensive protection
SUD Smart Health Care has three varied plan options that you can choose from. You may assess your overall health and future health analysis to reach a practical decision. The plan options are:
● Heart Cover:
It covers a wide range of minor and major heart diseases.
● Cancer Cover:
Cancer can be as life-threatening and quite expensive to treat. So, this plan covers different types of cancer
● Heart, Liver, Kidney, and Cancer Cover:
It is a comprehensive cover that includes major and minor heart, kidney, and liver diseases, along with cancer treatments.
2.There’s no restriction on how you use the payout
SUD Smart Health Care is a critical illness cover that pays out the lump-sum amount when a listed critical illness is diagnosed. You do not have to wait till hospitalization or bill submissions. Upon diagnosis itself, the lump-sum amount is paid out, and there is no restriction on how you use the amount. You may use the amount to cover hospitalization costs, household expenses, clearing out fees for your children, traveling expenses, and so on.
3.Coverage for minor as well as major illnesses
One of the best parts about SUD Smart Health Care is it covers both major and minor critical illnesses. In all three plan options, as aforementioned, major and minor illnesses are covered. For a minor illness, the insured receives 25% of the sum insured (up to 2 times/policy tenure) and 100% of the sum insured in case of a major illness (once/policy tenure).
4.The claim settlement is quick and easy
The claim settlement process with critical illness covers like SUD Smart Health Care is quite easy, simple, and hassle-free. Since the plan offers a lump-sum payout upon diagnosis of a listed critical illness, the patient does not have to go through the lengthy claim process of a regular health plan. All you have to do is raise a claim and submit the diagnosis reports. After approval, the eligible lump-sum amount is disbursed into the registered bank account.
5.It can supplement your corporate health plan
Have you thought of your corporate health plan and its effectiveness in managing high medical expenses? A group or corporate health plan often comes with a modest sum insured. When supplemented with SUD Smart Health Care, it can suffice your medical needs to a great extent. You may no longer have to struggle for another source of financial reliability when it comes to serious illnesses.
6.It covers the gap in the expenses and your regular health plan coverage
A regular health insurance plan may not cover all your expenses, such as the affected income due to hospitalization, grocery, traveling costs, and so on. With SUD Smart Health Care, you can utilize the high sum insured to cover this expense gap. It acts as a second source of income that covers the inadmissible expenses that occur due to the hospitalization of the insured.
7.The premium is affordable
Premium is the primary concern for many people when planning a health insurance plan. With SUD Smart Health Care, you have a range of premiums to choose from. The affordable premiums cover a wide range of individuals who can otherwise not afford a very hefty premium rate.
8.You can choose the premium paying frequency as per your preference
SUD Smart Health Care gives individuals the freedom to choose the premium paying frequency according to their financial comfort. You may pay it monthly, half-yearly, quarterly, or annually. For this, you may evaluate your other ongoing financial commitments to figure out a suitable term.
9.You can cut back on your taxes
SUD Smart Health Care not only saves you from exhausting your hard-earned savings during hospitalization but also compensates in tax benefits. Under Section 80D of the Income Tax Act of 1961, you can avail up to ₹25,000 (₹1 lakh for senior citizens) tax deductions against SUD Smart Health premium.
10.The policy offers peace of mind
Above everything comes the mental peace that a health insurance plan offers. When you know you have a strong financial backup, you need not compromise other essential expenses. Also, with an adequate health plan comes quality healthcare services that further reduce the stress and anxiety that may trigger during hospitalization.
Conclusion
SUD Smart Health Care is a comprehensive and also highly customisable health policy. This easy-to-understand policy can make a huge difference in your financial management. Exhausting your savings against a critical illness can plunge your family into debt and a financial crisis. To avoid any such situation, it is best to stay invested in your preferred health insurance plan like SUD Smart Health Care.
Reference: SUD LIFE SMART HEALTHCARE UIN: 142N089V01
Reference: SUD LIFE SMART HEALTHCARE UIN: 142N089V01
Disclaimer
Star Union Dai-ichi Life Insurance Company Limited is the name of the Insurance Company and “SUD Life Smart Healthcare” is the name of the plan. Neither the name of the Insurance Company nor the name of the plan in any way indicates the quality of the plan, its future prospects or returns
SUD Life Smart Healthcare | UIN: 142N088V01 | A Non-Linked Non-Participating Pure Risk Premium Individual Life Insurance Plan Star Union Dai-ichi Life Insurance Company Limited |IRDAI Regn. No: 142 | CIN: U66010MH2007PLC174472
Registered Office: 11th Floor, Vishwaroop I.T. Park, Plot No. 34, 35 & 38, Sector 30A of IIP, Vashi, Navi Mumbai – 400 703 | Contact No: +91 22 7196 6200 | 1800 266 8833 (Toll Free) | Timing: 9:00 am – 7:00 pm (Mon – Sat)| Email ID: customercare@sudlife.in | Visit: www.sudlife.in | For more details on risk factors, terms and conditions, please refer to the sales brochure carefully, before concluding the sale. |Trade-logo displayed belongs to M/s Bank of India, M/s Union Bank of India and M/s Dai-ichi Life International Holdings LLC and are being used by Star Union Dai-ichi Life Insurance Co. Ltd. under license.
SUD Life Smart Healthcare | UIN: 142N088V01 | A Non-Linked Non-Participating Pure Risk Premium Individual Life Insurance Plan Star Union Dai-ichi Life Insurance Company Limited |IRDAI Regn. No: 142 | CIN: U66010MH2007PLC174472
Registered Office: 11th Floor, Vishwaroop I.T. Park, Plot No. 34, 35 & 38, Sector 30A of IIP, Vashi, Navi Mumbai – 400 703 | Contact No: +91 22 7196 6200 | 1800 266 8833 (Toll Free) | Timing: 9:00 am – 7:00 pm (Mon – Sat)| Email ID: customercare@sudlife.in | Visit: www.sudlife.in | For more details on risk factors, terms and conditions, please refer to the sales brochure carefully, before concluding the sale. |Trade-logo displayed belongs to M/s Bank of India, M/s Union Bank of India and M/s Dai-ichi Life International Holdings LLC and are being used by Star Union Dai-ichi Life Insurance Co. Ltd. under license.
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