Best Term Insurance Plans That Cover Critical Illness


Term insurance is the one of the most affordable forms of life insurance available in the market. It ensures the financial well-being of your loved ones against any unforeseen circumstances. Your family is assured of a lump sum in case of an unfortunate event and makes sure your dependents stay financially independent.

However, you might be wondering about what may happen to your family in case you are diagnosed with a critical illness like cancer which can impair your earning ability. Not to forget, the exorbitant medical expenses associated with the treatment of critical diseases.

This is where a term plan with critical illness benefits play a crucial role. Such plans cover all your medical and rehabilitation expenses when you are battling a life-threatening disease. Here are few of the best term insurance plans that offer protection against critical ailments:

Bajaj Allianz Life eTouch Online Term

A pure term insurance plan, Bajaj Allianz Life eTouch Online Term plan also doubles up as a health plan offering protection against critical ailments. This term insurance plan comes in four variants and you can choose the one that best suits your needs. The four variants of the plan are:

  • Shield
  • Shield Plus
  • Shield Super
  • Shield Supreme

The Shield Supreme variant of the term insurance plan offers protection against accelerated critical illness benefits in addition to the waiver of premium benefit.

ICICI Pru iProtect Smart

ICICI Pru iProtect Smart is a term insurance plan that helps not only secure your family’s financial needs, in case of your absence but also offers claim payout in case of diagnosis of any of the 34 critical ailments mentioned in the policy document. Also, you get this benefit without any change in premium for a period of 30 years.

You need not produce any hospital bills for the payout. A photocopy of the diagnosis report is enough.

SBI Life – Smart Shield

A pure term insurance plan, SBI Life Smart Shield, comes in these variants:
Level term assurance
Increasing term assurance
Decreasing term assurance (Loan protection and Family income protection)

With accelerated critical illness cover rider, this term plan gives you the financial muscle to combat critical diseases.

Aegon Life iTerm Plus Insurance Plan

This term insurance plan comes in four variants and provides coverage against 36 critical ailments. Also, the future premiums are waived off in such cases. In case of a critical or terminal ailment, a lump sum is paid, and the plan also gives you the option to increase coverage as per your requirement at different life stages.

Thus, these term insurance plans are one of the best investment plans to safeguard your finances against critical ailments draining all your savings. If you already have an existing term plan, find out about critical illness riders associated with such plans.

With Bajaj Finserv’s pre-approved offers, availing finance on a range of financial products including home loans, business loans, personal loans, etc., has become easy. Know your pre-approved offer by sharing a few basic details.


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