Benefits of Term Insurance Plan with Critical Illness Cover for Organ Transplantation

When an organ of your body fails to perform, it need transplantation to re-start normal functioning of the organ. Organ transplantation is a critical procedure done globally by harvesting an organ from people who are dead or from living donors. This organ is then replaced with the failed organ of the recipient/patient.

Being a critical procedure, organ transplantation requires multiple tests and examination to ensure the compatibility of the  donor vs. the recipient. Harvesting and transplanting of organs can be done for several body parts such as Kidney, bone marrow, liver, lungs, heart, pancreas, etc.

Because of the complexity involved in the human organ transplant, it becomes an expensive procedure. In fact, the organ transplant price in India goes up to 10 -15 lakh in general. Hence, if any organ transplantation is required due to medical emergency or any other reason, it becomes impossible for a normal family to afford the treatment cost.

And in the absence of medical insurance, people even had to sale their assets to incur the expenses of organ transplantation. Hence, to stay prepared for such unforeseen medical situations, it is better to buy a term insurance policy to make sure that you do not have to drain your savings.

However, the question that arises in this regard is whether term insurance policy offer coverage for organ transplantation or not.

Organ Transplantation Under Term Insurance Plans

You would be happy to know that term insurance policies allow coverage  against organ transplantation under its critical illness rider. Let us discuss organ transplant coverage in detail here.

What is Critical Illness Cover?

Most term insurance plans in India allow critical illness cover as an additional benefit. It is, in fact, covered as a rider under a term plan. Term insurance offer several riders and a critical illness rider is the most significant of them all. This rider cover the insured against several life threatening diseases, which require extended treatments, multiple hospital visits, and a range of related expenses.

If a policyholder avails a critical illness rider under their term plan, they become eligible for a certain payout in case of being diagnosed with a critical disease. This payout can be used for organ transplantation if the critical disease requires it as part of the treatment.

Advantages of Critical Illness Riders for organ transplantation

Availing a critical illness rider with your term plan allow multiple benefits to the policyholder, especially if the person has to undergo major health conditions like organ transplantation.

• The insured can avail a lump sum coverage amount to start treatment
• It allows the insured to avail greater coverage by paying a small amount as premium
• Further, the insured can use a term insurance calculator to find the exact premium that they would pay to avail the benefits of the rider
• In addition, the insured can also avail the benefits of tax deduction under section 80D of income tax

Factors to Consider under Term Plan for Organ Transplantation

There are several insurers in India offering term plans with multiple riders for critical diseases and organ transplantation. Most of these plans differ from each other depending on their coverage terms and conditions.

Further, the conditions might also differ in terms of the organ that needs to be transplanted such as liver, heart, pancreas, kidney, intestine etc. Another important factor to consider is the transplant procedure applied by the healthcare providers and hospitals.

In addition, the health condition that the insured is suffering from which caused the organ to fail is also considered by insurer before offering term coverage to policy seekers.

If the functioning of the organ has failed due to a reason which is excluded from the policy, the transplant may not be covered by the insurance provider. For instance, in case of kidney transplant if the condition is caused due to excessive drinking, the term plan may not compensate the policyholder for the  kidney transplant patients.

Top Insurance Plans for Organ Transplantation

Below are some of the top insurers offering critical insurance coverage under term insurance plans. These insurance providers offer organ transplantation of varied severity under the plans:

Insurance Plan	Critical Illness Covered	Benefits
Max Life Smart Secure Plus	40 critical illnesses	Terminal illness cover   Maturity benefit Accident benefit Joint-life benefit Accelerated critical illness benefit
HDFC Click 2 Protect Life	19 critical illnesses	Death benefit   Critical Illness benefit
Bharti AXA Life Flexi Term Plan	34 critical illnesses	Death benefit   Critical Illness benefit
Exide Life Elite Term Insurance Plan	25 critical illnesses	Three different payout benefit options – Lumpsum, Lumpsum with family income payout and   Family income payout
Reliance Nippon Digi Term Insurance Plan	25 critical illnesses	Death benefit   Inbuilt terminal illness benefit

How to get the benefit of Critical Illness Rider for Organ Transplantation?

Most term plans allow the insured the flexibility to avail rider benefit under the plan:

• The insured can choose to receive the benefit or payout as one-time lump sum amount
• Alternatively, the insured can choose to receive the payout as regular/monthly source of payment
• Or, the insured can also choose to receive the payment as a combination of lump sum payment (some portion of the amount) and the remaining as regular pay.