Great Eastern Critical Care Advantage is term insurance that provides coverage against death, total permanent disability (TPD), terminal illnesses and different stages of critical illnesses until age 85. The minimum policy term is 6 years.
It is important to note that the death coverage is $15,000 and there is a payout cap of $100,000 and $200,000 for early stage critical illnesses and intermediate stage critical illnesses respectively.
There is a premium waiver benefit in which all future balance unpaid premium will be waived upon a claim of early and intermediate stage critical illness. Also, there is a cancer recovery benefit that pays an additional 10% (capped at $10,000) and 25% of the sum assured (capped at $25,000) upon a claim of major cancer at the intermediate stage and major cancer at critical stage respectively.
Image is taken from greateasternlife.com
Besides the cancer recovery benefit, there is the usual special benefits for Diabetic Complications, Severe Rheumatoid Arthritis, Severe Osteoporosis with Fracture, Severe Dengue Hemorrhagic Fever, Systemic Lupus Erythematosus and Crohn’s disease that are also covered by similar plans from various insurers.
Pros of Great Eastern Critical Care Advantage
- Additional coverage for intermediate stage and critical stage of Major Cancer
- Premium is waived at an intermediate stage and critical stage claim
Cons of Great Eastern Critical Care Advantage
- It lacks recent new features which allow a policyholder to claim more than 3X of the sum insured.
- The premium is similar to the comparable plans from other insurers, but it lacks new policy features such as Re-diagnosed Cancer Benefits.
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Besides Great Eastern Critical Care Advantage, you may want to read up a similar plan from Aviva.