What is a Credit Linked Health Plan?
Accidents can happen anywhere and at any moment. Being unprepared can cause hardship for you and your family. In addition to the stress of caring for the injured person or grieving in case of loss of life, the family also undergoes sudden financial stress. This includes paying recurring bills, EMIs, interest, or even premiums. You need not worry, though, if you have the right insurance policy! The Credit Linked Health Plan is a unique insurance plan that comes at just Rs. 400/year. It ensures you will be reimbursed for all accident-related expenses and your outstanding EMI balance. Let us learn more about what this insurance plan provides.
Key Features of Credit Linked Health Plan
Here’s why you must have the Credit Linked Health Plan:
How to Apply for the Credit Linked Health Plan?
The credit linked health plan’s application procedure is easy and seamless. To buy this insurance policy, adhere to a few easy steps:
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Click on Buy Now
On the product page, click the ‘Buy Now’ button, and enter your basic information in the online application form.
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Enter the OTP
Enter the OTP sent to your mobile number to verify and complete the application process.
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Make the payment
You can pay the premium with a credit/debit card, a mobile wallet, UPI, or any other online payment method that is currently supported.
All done! The membership information will be sent to your registered email address or WhatsApp.
Eligibility Criteria
You must satisfy the following eligibility requirements to get the credit linked health plan:
You must be a resident of India.
Your age should be between 18 years to 65 years.
What’s Covered?
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Accident Protection
In an unforeseen event, if you die or become permanently disabled due to an accident during the policy year, as the insured person, you will get compensation of up to Rs. 5.25 lakh.
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EMI Payment
If an accident causes you to become disabled or injured and you cannot work during the policy year, this plan will offer EMI payouts up to Rs. 3 lakh, which will be capped at Rs. 50,000 per month for six months.
Policy Plan Details & Specifications
Here are the credit linked health plan’s policy details and specifications that you must note:
Coverage Limit
Accident protection coverage up to Rs. 5.25 lakh at just Rs. 400/annum.
EMI coverage up to Rs. 3 lakh (maximum of Rs. 50,000 for 6 months) at just Rs. 400/annum
Validity
The plan is valid for one year.
What’s not Covered?
You must keep in mind that the insurance plan does not cover the following things:
Adventure sports activities
No coverage will be provided if you have met with an accident while engaging in adventure sports activities.
Previous accidents
If you are hospitalised for a condition brought on by a previous accident, the expenses arising out of such a situation are not covered under this policy.
Pre-existing conditions
Any conditions that existed before the insurance was purchased are not covered under this policy.
Suicide
Suicide or attempted suicide (sanely or insanely), or intentional harm to oneself through sickness or injury is beyond the scope of this policy.
How to Make a Claim?
You can seamlessly raise a claim in the following manner:
Call
If you have been hurt in an accident, you can make an insurance claim with the insurer. You can give a call on the toll-free number - 1800-209-1021 to make a claim.
Email
You can also send an email with the policy number and other information to the team at customercare@bajajallianz.co.in.
Customer Care Details
Got stuck in the process? You can also reach us by email at insuranceconnect@bajajfinservmarkets.in for quick assistance from our team.
FAQs on Credit Linked Health Plan
What payment methods are available when purchasing a credit linked health plan - accident & EMI cover?
You can pay the premium with a credit/debit card, a mobile wallet, UPI, net banking, or any other online payment method that is currently supported.
Will this insurance help me if I cannot pay my EMIs due to disablement?
With Credit Linked Health Plan - Accident & EMI cover, you are entitled to an EMI payout of up to Rs. 3 lakh (up to Rs. 50,000 per month for six months). This occurs if you have an accident-related injury during the policy year that causes a permanent total disability that prevents you from working.
After making an online purchase, how do I obtain the membership information for the plan?
Once you make the payment, the membership information will be sent to your registered email address or WhatsApp.
What is the premium that must be paid to cover an EMI of Rs. 50,000?
To cover the EMI of Rs. 50,000, you just have to pay a premium of Rs. 400/annum. Moreover, you will also be covered against accidental death and permanent total disability.
How can I raise a claim if an accident occurs?
You can make a claim by giving a call to the insurer on the toll-free number - 1800-209-1021 or send an email with the policy number and other information to the team at customercare@bajajallianz.co.in.
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