Ayushmaan Bharat Health Account (ABHA)

The Ayushman Bharat Yojana (PM-JAY), a government-backed healthcare program launched in 2018, is the world's largest, providing care to economically weaker sections of society. With this initiative, the Indian government aims to provide medical care to citizens of the country especially those who are not covered by a comprehensive health plan. As per the Ayushman Bharat Yojana, pre- and post-hospitalisation coverage is available for 3 days and 15 days, respectively. However, long-term illness or severe diseases that require multiple hospitalisations may exceed the coverage of the Ayushman Bharat Health Card. In this regard, you need to find ways to augment your health cover.

A critical illness rider from RazorClinic can be the right solution for this. This is an optional rider that can be purchased with a term insurance plan to get coverage against several types of life-threatening ailments and diseases. If the life insured is diagnosed with a listed critical illness during the policy term, the rider provides you and your family with a lump sum payout that can provide financial support for treatment and other expenses. At the same time, if you unfortunately pass away during the tenure, the term insurance plan provides your beneficiary with death benefit payout that is exempt from taxation as per rules specified under Section 10(10D) of the Income Tax Act, 1961.