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Reliance Life's Easy Care Fixed Benefit Plan This products is not suitable for those having a pre-existing ailment

PRODUCT FEATURES: This is a regular/single premium, non-participating, non-linked, fixed benefit hospitalisation plan that provides a fixed amount for daily hospitalisation expenses, towards cost of multiple surgeries, major surgeries and 10 critical illnesses. The entry age is 18-65 years, renewable till you attain 75 years. The coverage offered is Rs 1,00,000 to Rs 5,00,000.

POLICY LIMITS: The plan will pay a fixed amount of 1 per cent of sum assured per day from the first day for the minimum duration of 48 hours of hospitalisation under its daily hospital cash benefit (DHCB) scheme.

An additional 1 per cent of sum assured per day is paid to the insured for each day of stay in the ICU. A recuperating benefit of 3 per cent of sum insured is paid to the policyholder up to seven or more days of continuous hospitalisation for the same injury and disease subject to DCHB being payable at the time of hospitalisation. The plan promises to pay a lump sum benefit of 100 per cent of sum insured for 10 major surgeries, like hip or knee replacement, excision of tissue of brain with craniotomy, coronary artery bypass surgery, liver transplantation and total excision of esophagus and stomach. Similarly, 100 per cent of sum insured is paid in case of 10 critical illnesses, including cancer, stroke, loss of speech, Alzheimer and coma.

ANNUAL AND LIFETIME LIMITS: The plan offers a surgical cash benefit up to 10 per cent of sum assured.

The annual and lifetime benefits are capped, for instance, the annual limit for DHCB is 45 days. While recuperation benefit and major surgical benefit will be paid only once in a policy year, surgical cash benefit will be paid for three events. Similarly, the lifetime limit is one-time maximum annual limit for a critical illness.

PREMIUM CHARGES: Your premium remains fixed for every five years. A Rs 1,00,000 cover will cost Rs 1,830 for a male aged 35 years, while Rs 2,040 for a female excluding service tax.

A defined benefit product should be bought to supplement your traditional health insurance policy. Such a product should not be relied as a primary insurance cover because they pay amounts that are much lower than your actual hospitalisation expenses.

Also, such products are not suitable for those having a pre-existing ailment. In this case, the product covers lesser number of surgeries compared with other fixed benefit plans available in the market. Also, the plan is renewable only till 75 years, while other plans offer renewability till 85 years, or also lifelong.

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