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Marks: 9/10. Good effort. Assignment made as desired.

INSTITUTE OF PROFESSIONAL EDUCATION & RESEARCH

ASSIGNMENT ON

Comparative study on Health Insurance Products (Critical Illness)

SUBMITTED TO: PROF. ABHISHEK JAIN

SUBMITTED BY: GEETIKA JADHAV

HIMANSHU SINGH SHEKHAWAT NIDHI SINGH TOMAR

DISEASES COVERED

ICICI

Cancer Coronary Artery Bypass Graft Surgery Myocardial Infarction (Heart Attack) End Stage Renal Failure Major Organ Transplant

HDFC ERGO Heart Attack (Myocardial Infarction) Coronary Artery Bypass Surgery

IFFCO TOKIO

Cerebral paralytic stroke, Cancer - invasive malignancy, End stage renal failure requiring dialysis, Coronary artery disease requiring open chest bypass surgery, Transplantation of kidney, lung, pancreas or bone marrow, Major injuries resulting in permanent separation/ loss of use of hand, foot or eye, End Stage Liver Disease, Major Burns, Coma and Multiple Sclerosis.

Stroke Cancer Kidney Failure Major Organ Transplantation Multiple Sclerosis

Stroke Paralysis Heart Valve Replacement Surgery Multiple Sclerosis

Paralysis

PREMIUM

HDFC ERGO
Sum Insured 2,50,000 5,00,000 7,50,000 1,00,0000 18-25 Yrs 562 1,124 1,685 2,247 26-30 Yrs 702 1,405 2,107 2,809 31-35 Yrs 843 1,685 2,528 3,371 36-40 Yrs 1,405 2,809 4,214 5,618 41-45 Yrs 2,107 4,214 6,320 8,427

IFFCO TOKIO
Sum Insured Upto 25 26-35 36-45 46-55 56-65 66-70 100,000 2231 2865 3521 5554 8364 17103 150,000 2742 3291 4009 6510 9536 19499 200,000 3253 3718 4497 7465 10708 21896 250,000 3897 4453 5377 8606 13011 23995 300,000 4540 5187 6256 9746 15314 26095 350,000 5102 5830 7031 11077 17355 28376 400,000 5665 6473 7806 12407 19397 30656 450,000 6227 7116 8582 13737 21521 32520 500,000 6790 7758 9357 15067 23645 34384

ICICI LOMBARD
Sum Insured 300000 500000 600000 1200000 1 Year 1000 1405 2000 0 3 Years 3299 0 6600 13200 5 Years 5650 0 11300 22600

OTHER DIFFERENTIATING POINTS

PARTICULAR Major Medical Illnesses & Procedures Accidental Death Accidental Permanent Total Disability (PTD) Cumulative Bonus Entry Age Exit Age Grace Period (For Renewing Policy) Sum Insured

HDFC ERGO Yes Yes Yes

IFFCO TOKIO Yes Yes Yes The Basic Sum Insured under the Policy increases by 5% at each renewal for every claim free year of insurance 5 years 45 years

ICICI LOMBARD Yes Yes Yes

No

No

5 years 45 years

20 Years 45 years (Can be Renewed to 50 ) 15 days (grace period) from the expiry of the policy 3 - 12 Lacs

No 2.5-10 lacs

No 0.5 -5 lacs

BEST AMONG THE THREE In our view HDFC ERGO is the Best among three available options of Critical Illness Policy due to the fact that it has the lowest premium, covers the major diseases. It is the best reasonable priced option.