Tata AIA Life Insurance on Monday, 27 April, introduced ‘Shubh Health Criti’, a unit-linked life insurance plan. It aims to redefine traditional protection by enabling customers to build a dedicated health fund that grows through market-linked returns and can be utilised for treatment and health preservation on a tax-free basis.
The plan aims to move insurance from reactive payouts to proactive health planning. It focuses on providing financial support when medical needs arise, rather than only after diagnosis.
Reimagining health insurance as growing health fund
Shubh Health Criti permits policyholders to plan and accumulate a health corpus over time. This can be accessed for critical illness treatment, related expenses and medical procedures. The plan covers 60+ critical illnesses, locks in premiums for 30 years and includes a premium waiver facility in case of death or disability, as per the terms and conditions. These features ensure continued fund growth even during adverse and challenging life events.
This plan is also integrated with Tata AIA’s ‘Health Buddy ecosystem’ that focuses on preventive healthcare through screenings, routine health checks, and personalised health tracking to encourage early detection of any serious medical conditions.
Jeelani Basha, Chief Business Officer, Partnership Distribution and Group Business, Tata AIA Life Insurance, said, “Health planning has always been reactive- a safety net for when things go wrong. Shubh Health Criti flips that equation. It’s a fund you build, a future you plan for and a wellness ecosystem that keeps you healthier along the way.”
What are the key features of the ‘Shubh Health Criti’
- The plan aims to cover 60+ critical illnesses with comprehensive protection benefits.
- Offers a 30-year premium guarantee with no change in the structure of the premium.
- For meeting medical treatment and expenses, tax-free withdrawals from the health fund are permitted.
Furthermore, this plan offers features such as dual life OPD cover for policyholders and family members, accidental death and total permanent disability benefits, terminal illness cover with term booster, along with return of ‘Health Buddy’ premiums. The age range is 18 to 65 years.
Shubh Health Criti combines Tata AIA Health SIP, Health Buddy, and a comprehensive protection rider, along with market-linked returns subject to investment performance and policy conditions. For complete details, refer to the official website of TATA AIA.
Should you consider investing in this plan?
This decision should only be made after proper professional consultation and guidance from a certified investment advisor. Your investments need to be aligned with your current financial health, long-term economic objectives, and risk-taking appetite. No investments in any particular asset class should be made based on emotional decisions or a lack of understanding of fundamentals.
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