Chennai: Cholamandalam MS General Insurance Company Limited, a joint venture between the Murugappa Group and Mitsui Sumitomo Insurance Group Japan, today announced the launch of its Chola Critical Health line Policy, which provides for a lump-sum amount on being diagnosed with any of the named critical illnesses. The claimed amount can then be used by the policyholder for any purpose.

Some of the key features of Chola Critical Healthline are – Entry upto 65 yrs, No medical check-up upto 55 yrs, Lifetime renewal facility. This policy does not require any proof of hospitalization or even treatment. The claim will be settled basis the proof of diagnosis of a critical illness and the necessary survival period. The premium paid for Chola Critical Healthline Policy is eligible for tax exemption up to Rs 20,000 under section 80(D) of Income tax act.

Customers can choose from 2 plan options for sum insured of up to Rs. 10 lacs. The Standard Plan covers 10 critical illnesses and the Advanced Plan covers 12 critical illness plus ambulance charges up to Rs 1000. The list of diseases covered under the policy are Cancer, Stroke, First heart attack, Open Chest CABG, Kidney Failure, Major Organ / Bone Marrow Transplant, Primary Pulmonary Hypertension, Surgery of Aorta, Multiple sclerosis, Parkinson’s Disease and Motor Neuron Disease.

Chola Critical Healthline can be bought independently or as an additional cover over any other Health Insurance policy including employer provided Group Health cover. In such a case the claim can be settled under both the policies.

Speaking on the occasion of the launch, Mr. S S Gopalarathnam, Managing Director, Chola MS, said, “Today’s living environment combined with stressful schedules and sedentary lifestyle has considerably lowered the age when critical illnesses like Cancer, Heart Attack e.t.c strike. Galloping healthcare costs have made it imperative to have a comprehensive health insurance cover that facilitates access to quality healthcare simultaneously easing a potentially huge financial burden off one’s shoulders. I feel very pleased to launch our new product offering Chola Critical Healthline that provides optimum personal protection in a single policy, at an affordable price”.