ICICI Lombard Secure Mind

ICICI Lombard Secure Mind

Secure mind covers :

  • A coverage for provision of payment of sum insured in the event of the accidental death or accidental permanent total disability or upon diagnosis of any of the 18 major medical illness & procedures, resulting in an inability to remain gainfully employed.

Note: Is a General Insurance policy hence Natural death is not covered in this policy.

  • Pays the sum insured amount in case of a claim against o Upon diagnosis of any of the 18 major critical Illnesses covered o Death or permanent total disability due to accident

o Loss of Job cover on account of retrenchment or layoffs (2% of Sum insured per month, maximum 3 months)

Features of the policy

  • Policy tenure similar as SIP period ranging from minimum 1 year to maximum 3 years.
  • Entry age o Minimum : 20 years o Maximum : 50 years
  • Fixed sum insured coverage in case of accidental death/ disability/ critical illness
  • Loss of Job cover on account of retrenchment or layoffs (2% of Sum insured per month, maximum 3 months)
  • No medical test for policy issuance
  • Sum Insured details (equivalent to SIP investment- Minimum Rs 60,000 and Maximum Rs 1,500,000)
  • Premium per installment (Insurance premium will be divided in monthly

installment up to Mutual fund systematic investment plan tenure

Features in Detail

The Policy covers the sum insured, subject to maximum liability as specified under each cover, up to a maximum 3 years period on account of –

  1. Critical illness
  2. First Diagnosis of the below-mentioned Illnesses:
    1. Cancer of specified severity
    2. Kidney failure requiring regular dialysis;
    3. Multiple Sclerosis with persisting symptoms; or
    4. Benign Brain Tumor
    5. Parkinson’s Disease before the age of 50 years
    6. Alzheimer’s Disease before the age of 50 years
    7. End Stage Liver Disease
  3. Undergoing for the first time of the following surgical procedures:
    1. Major Organ / Bone Marrow Transplant;
    2. Open heart replacement or repair of heart valves;
    3. Open chest CABG;
    4. Surgery of Aorta;
  4. Occurrence for the first time of the following medical events:
    1. Stroke resulting in permanent symptoms;
    2. Permanent Paralysis of Limbs;
    3. First Heart Attack- of specified severity;
    4. Major Burns;
    5. Loss of Speech;
    6. Deafness
    7. Coma

III.  Loss of employment* on account of retrenchment or layoffs on account of:

  1. Employer rules and regulations (Example, closure of a division or a department on account of poor financial health)
  2. Action of any Public Authority leading to closure of the employer firm; or
  3. Termination from employment due to illness. (2% of Sum insured per month, maximum 3 months)

*Self-employed persons will not be eligible to be covered for loss of employment

Please refer policy wordings for detailed definitions of the covers and exclusions

Sum Insured & Premium calculation

  • Sum Insured -Fixed benefit amount for major medical illness & procedures, and accidental death or permanent total disability
  • Loss of Job cover on account of retrenchment or layoffs (2% of Sum insured per month, maximum 3 months)
  • The premium depends on the proposer’s age, sum insured, policy tenure & proposers occupation
Age band in yrs
Policy period in yrs 20-25 26-30 31-35 36-40 41-45 46 – 50
1 0.31% 0.34% 0.43% 0.50% 0.93% 1.80%
2 0.65% 0.73% 0.92% 1.12% 2.14% 3.98%
3 0.99% 1.13% 1.41% 1.76% 3.49% 6.31%
Premium rate is inclusive of ST@14% + Swachh Bharat Cess @ 0.5% + Krishi Kalyan Cess @ 0.5%

 

Eligibility :

  1. Age criteria at entry: Minimum 20 years, Maximum 50 years
  2. Minimum policy tenure : 12 months
  3. You should not have suffered from any of the Major Medical Illness &

Procedures covered under this Plan

(If any of them are pre-existing as indicated during application, they will be excluded from the cover as available to you)

  1. Satisfactory completion of health declaration form
  2. Self-employed persons will not be eligible to be covered for loss of employment.
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