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Parents often plan for unforeseen events like accidents, to ensure that the wellbeing and education of their children is not affected by financial roadblocks. For parents looking to get their children’s education covered against the financial risks in the event of an accident,
taking an insurance policy can be a smart decision.
FlexiCare Group Insurance Policy - Education Fund Cash Cover from Manipal Cigna Health
Insurance supports the education of the dependent child if the policyholder suffers from
permanent total disablement due to an illness or an injury.
Plan Details
|
Sum Insured up to |
Premium Including GST |
|
Rs. 20000 |
Rs. 99 |
Eligibility: You are eligible for the Education Fund Cash Cover if you are between 18 and 65 years of age, as on the last birthday.
Plan Validity: The plan is valid for a tenor of one year.
What's Covered
-
Child Education
Get a cover of Rs. 20,000 per month for up to 90 days
If the policyholder suffers from an illness or injury caused by an accident covered under the policy that directly results in permanent total disablement, the sum insured will be paid. The accident or illness must occur within the policy year. The payout will be as specified in the policy schedule regarding the tuition fees paid towards the dependent child’s education for the policy period. The payout will be irrespective of whether the child (children) is insured under this policy.
This cover shall be payable to the dependent child being up to 25 years of age as on the event's date of occurrence (unless specified otherwise). The dependent child must pursue an educational course as a full-time student at an accredited educational institution. The payout is provided subject to the condition that the dependent child does not have any independent source of income.
Any claim becomes admissible where the dependent child (children) is a minor shall be payable to the legal guardian. If the policyholder has one child, the sum insured shall be paid entirely to the child. If the policyholder has more than one child, the sum insured shall be divided equally among eligible children.
What is Not Covered / Exclusions
Medical treatment for any pre-existing diseases
*For a complete list of exclusions, please refer to the policy wordings.
Waiting Period
The initial waiting period for this cover is 30 days, whereas the specific illness waiting period is 24 months.
|
Name of the Waiting Period |
Waiting Period |
|
Initial Waiting Period |
30 days |
|
Specific Illness waiting period |
24 months |
Specified disease or procedure waiting period
Since the inception date of the cover, a waiting period specified in the policy schedule shall apply to all treatments. The following treatments, medical or surgical, for all medical expenses along with their complications, are not covered:
- Cataract
- Hysterectomy for Menorrhagia or Fibromyoma or prolapse of uterus unless necessitated by malignancy myomectomy for fibroids.
- Knee replacement surgery (other than caused by accident), non-infectious Arthritis, Gout, Rheumatism, Osteoarthritis and Osteoporosis, Joint Replacement Surgery (other than caused by accident), prolapse of intervertebral discs (other than caused by accident), all Vertebrae Disorders, including but not limited to Spondylitis, Spondylosis, Spondylolisthesis, Congenital Internal.
- Varicose Veins and Varicose Ulcers.
- Stones in the urinary urogenital and biliary systems, including calculus diseases.
- Benign Prostate Hypertrophy, all types of Hydrocele
- Fissure, Fistula in the anus, Piles, all types of Hernia, Pilonidal sinus, Hemorrhoids, and an abscess related to the anal region.
- Chronic Suppurative Otitis Media (CSOM), Deviated Nasal Septum, Sinusitis, and related disorders, surgery on tonsils/Adenoids, Tympanoplasty, and any other benign ear, nose, and throat disorder or surgery.
- Gastric and duodenal ulcer, any Cysts/Nodules/Polyps/internal tumors/skin tumors, and any Breast lumps (unless malignant), Polycystic Ovarian diseases.
- Any Surgery of the Genito-urinary system unless necessitated by malignancy.
If these diseases are pre-existing diseases at the time of proposal or subsequently found to be pre-existing, the waiting periods mentioned in the policy schedule shall apply.
How to apply
1
Click on the ‘Buy Now’ button on this page and share your basic details in the online application form.
2
Check and confirm your application by entering the OTP received on your mobile number.
3
Pay the premium via credit/debit card, UPI, mobile wallet, or any other available online payment mode.
4
You will receive the details of your membership via email/WhatsApp.
Claim process
- Email: servicesupport@manipalcigna.com
- Toll-free number: 1800-102-4462
Contact us
For queries related to coverage, exclusions, or claims, please write to us at wecare@bajajfinserv.in
Disclaimer - Conditions apply. This product is offered under the Group Insurance scheme wherein Bajaj Finance Limited is the Master policyholder. The insurance coverage is provided by our partner Insurance Company. Bajaj Finance Limited does not underwrite the risk. IRDAI Corporate Agency Registration Number CA0101. The above-mentioned benefits and premium amount are subject to various factors such as age of insured, lifestyle habits, health, etc (if applicable). BFL does NOT hold any responsibility for the issuance, quality, serviceability, maintenance and any claims post sale. This product provides insurance coverage under ManipalCignaFlexiCare Group Insurance Policy, UIN: MCIHLGP20120V011920. Purchase of this product is purely voluntary in nature. BFL does not compel any of its customers to mandatorily purchase any third-party products.