Skip to main content

Buy Critical Illness Insurance

Start Saving for Tax 2018 by Investing in ELSS Funds Online

Buy critical illness insurance 
The rise in lifestyle-related diseases makes it an absolute necessity. 

The urgency to buy critical illness insurance stems from three reasons: steep rise in the incidence of lifestyle-related illnesses, high cost of treatment for these ailments, and surging medical inflation. Lifestyle diseases account for over 55% of deaths in India and the incidence of critical illnesses, such as cardiovascular diseases, strokes and cancer, is on the rise. A significant number of critical illness claims are from the 30-40 year age group 

According to the Indian Council of Medical Research, India is likely to have over 17.3 lakh new cases of cancer and over 8.8 lakh deaths due to the disease by 2020. 

Why you need critical illness insurance 

a. Rising incidence of lifestyle diseases and cancer 
1 in 3 people above the age of 30 suffers from a lifestyle disease (cardiac issues, diabetes, high cholesterol). 

17.3 lakh new cases of cancer by 2020 

b. High cost of treatment 

Cardiology 
Angioplasty (one stent) Rs 1.9 lakh - Rs 4.1 lakh 
Bypass surgery (CABG -coronary artery bypass graft) Rs 1.9 lakh - Rs 6 lakh 
Cancer 
Chemotherapy (per cycle) Rs 63,500 - Rs 1.9 lakh 
Breast cancer surgery Rs 1.9 lakh - Rs 4.2 lakh 

Transplant 
Liver transplant Rs 25.4 lakh - Rs 35.5 lakh 
Kidney transplant Rs 3.2 lakh - Rs 13.9 lakh 

c. Surging medical inflation 
176% Increase in average medical expenditure per hospitalisation for urban patients between 2004 and 2014. 

12.5% Medical inflation in 2016, as per the 2017 Global Medical Trends Survey Report. 

Source: India Healthcare Tourism 

Another report from GOQii, a fitness technology platform, states that one in three people above the age of 30 suffers from a lifestyle disease—cardiac issues, diabetes, high cholesterol— which often escalates to serious health issues. If you believe you have covered your risks with a basic health plan, think again. 

While regular health plans are indemnity policies, which pay only for in-patient hospitalisation, critical illness covers are defined benefit plans and offer a taxfree lump sum on the diagnosis of a specified illness. This means the funds can be used to undergo treatment anywhere in the world or repay an existing loan, while hospitalisation policies cover treatment only in India 

Besides, these illnesses have prolonged treatment periods and ancillary costs, which are not compensated by a basic health cover 

Add to this the fact that healthcare costs are increasing at an exorbitant rate each year, with medical inflation in the range of 13-15%. You can buy a critical illness plan as a standalone policy or combine it as a rider with life or health plans. A standalone policy is more viable as it offers flexibility and a comprehensive coverage 

Also consider factors like number of illnesses, waiting period and renewability while buying a cover. 










Invest Rs 1,50,000 and Save Tax upto Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds

Top 10 Tax Saver Mutual Funds for 2018

Best 10 ELSS Mutual Funds to invest in India for 2018

1. DSP BlackRock Tax Saver Fund

2. Invesco India Tax Plan

3. Tata India Tax Savings Fund

4. ICICI Prudential Long Term Equity Fund

5. Birla Sun Life Tax Relief 96

6. Franklin India TaxShield 

7. Reliance Tax Saver (ELSS) Fund

8. BNP Paribas Long Term Equity Fund

9. Axis Tax Saver Fund

10. Birla Sun Life Tax Plan



Invest in Best Performing 2018 Tax Saver Mutual Funds Online

Invest Best Tax Saver Mutual Funds Online

Download Top Tax Saver Mutual Funds Application Forms


For further information contact SaveTaxGetRich on 94 8300 8300


OR

You can write to us at

Invest [at] SaveTaxGetRich [dot] Com

OR

Call us on 94 8300 8300

Popular posts from this blog

Surrender ULPPs

  ICICI Pru LifeTime and ICICI Pru Lifestage are Unit Linked Pension Plans. Such insurance linked retirement plans are neither good investments nor do they offer sufficient insurance cover. As you can see, these have turned out to be bad deals. In the Lifetime plan, the fund value is not even equal to the total premiums that you have paid and in the Lifestage plan your return is just about 6% which is quite low. The mortality charges are as per your age which is why they have increased. Moreover, once these plans matures, you will have to compulsorily opt for annuity (regular income) and the annuity rates are generally modest. Assuming these plans mature in the next one year, it will be wise to surrender the plan now and curb your future commitments.   Before you choose to buy a term plan, you have to consider a few points. You need to insure yourself, only during the time you are working and your family is financially dependent on you. At the age of 59, not all insurance companies w...
Read more

ICICI Pru Constant Maturity Gilt dividend

Invest ICICI Prudential Constant Maturity Gilt Fund Online ICICI Prudential Mutual Fund   has announced dividend under the following schemes: Scheme Dividend ( R /unit) ICICI Pru Constant Maturity Gilt-DQ 0.26543239 ICICI Pru Constant Maturity Gilt Direct-DQ 0.27171609 ICICI Pru Q Interval Plan I-D 0.10617296 ICICI Pru Q Interval Plan I Direct-D 0.10703967 ICICI Pru Q Interval Plan I Ret-D 0.10617296             The record date has been fixed as June 13, 2016.   ----------------------------------------------- Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds Top 10 Tax Saver Mutual Funds to invest in India for 2016 Best 10 ELSS Mutual Funds in india for 2016 1. BNP Paribas Long Term Equity Fund 2. Axis Tax Saver Fund 3. Franklin India TaxShield 4. ICICI Prudential Long Term Equity Fund 5. IDFC Tax Advantage (ELSS) Fund 6. Birla Sun Life Tax Relief 96 7. DSP BlackRock Tax Saver Fund 8. Reliance Tax Saver (ELSS) ...
Read more

NPS Investment Choice for Safe Investors

Invest NPS Online       Whether they invested through SIPs or put in a lump sum amount, risk-averse individ uals have earned the highest returns. These are investors who stayed away from stocks and divided their NPS corpus between G class gilt funds and C class corporate debt funds. On average, gilt funds have given 9.75% annualised returns while corporate debt funds have churned out more than 11% in the past five years. As a result, the average return for ultra-safe investors in the past five years is in double digits. Even in the short term, ultrasafe investors have been the biggest gainers among NPS investors. Will the good times continue? The gilt funds of NPS are holding long-term bonds with an average maturity of over 19 years and a modified duration of about 9 years.These funds have done well because interest rate cuts have pushed down bond yields. But experts say this trend will not stay forever. NPS is a long-term investment and the bonds are predominantly held to matu...
Read more

Buy Health Insurance Plan even if you are covered with my Employer

Buy Health Insurance Plan Online Yes, getting a private insurance cover now, which extends beyond your retirement age, is recommended There are a few reasons why buying a health insurance plan may make sense even though you get medical insurance from your employer. Here are the points you need to think about. Firstly, your employer's insurance coverage will only protect you as long as you are employed with the company. The policy will terminate when you quit the job or when you retire. Post retirement is perhaps the phase when one needs it the most but you won't have it then. Moreover, buying a new insurance policy after the age of 50 means that there will be no coverage for pre-existing diseases.   Lastly, health insurance policy you get from your employer may or may not cover your dependants. ------------------------------ ----------------- Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds Top 10 Tax Saver M...
Read more

SBI MAGNUM MIDCAP ONLINE

Invest SBI MAGNUM MIDCAP ONLINE   SBI MAGNUM MIDCAP fund didn't fare well in its initial years but, in recent years, has steadily improved its performance under the capable hands of its current fund manager. Although investing predominantly in mid-cap stocks, the average market capitalisation of its portfolio is lower than other category peers.   Although the stock selection approach is mostly bottom-up , the fund manager doesn't shy away from taking bold sector bets , as is reflected in its large exposure to the healthcare sector. She is equally adept at handling performance across market cycles--the fund has captured more of the upside during market upticks and contained the downside during downturns in a better manner than its peers.   Given its superior risk-reward equation, the fund is a worthy pick in its category.     ----------------------------------------------- Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing EL...
Read more
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now