Cardiac Care: Need and importance today

Increasingly, India is seen as the heart disease capital of the world. Heart disease is the leading cause of death in India, killing 1.7 million Indians in 2016, according to the 2016 Global Burden of Disease Report, released on September 15, 2017. It is estimated that roughly one-fifth of the deaths in India are from coronary heart diseases, and by the year 2020, it will account for roughly one-third of all deaths. Unfortunately, most of these deaths could be because of an early onset of heart-related ailments due to our changing lifestyles, eating habits and limited access to healthcare in large parts of the country. 

Numerous studies have shown that be it urban or rural, heart disease makes no exception. With over 30 million heart-ailment patients in India, the split is more or less equal between urban patients and rural patients. To further understand the severity of the issue, studies are also showing an increasing occurrence of heart-related issues among the younger generation, under the age of 50.

All this has led us to estimate the increasing economic burden of heart disease that is going to affect our healthcare cost. A quick look at the financial burden is as under:

• Treatment of a heart attack costs around Rs. 4 lakhs*
• Coronary Artery Bypass Graft needs approximately Rs. 6 lakhs*
• Valve replacement ranges from around Rs. 3 lakhs to Rs. 8 lakhs*
• Implanting a pacemaker needs about Rs. 3 lakhs*
• While the average rise in income is approximately 7.4%, the average rise in healthcare expenses is 10%*

* http://www.indiahealthcaretourism.com/average_cost_of_treatment.php

The only way to tackle this rising cost of healthcare is by being practical about the need for health insurance. Even the recent budget report brought into focus the need for the creation of health centres in India, and more importantly the need for adequate health insurance for all citizens of the country. It is imperative to ensure that you and your family are adequately covered and are financially prepared to face the increasing costs of medical care, especially relating to any cardiac conditions and procedures.

To bridge this need, HDFC Life has introduced a plan that will tackle heart-related diseases effectively. HDFC Life Cardiac Care has been put together keeping in mind the increasing cost of heart ailments, including surgery, post surgery and the ongoing medical treatments and sessions that are inevitable in such a scenario. A plan that is exclusively tackling heart issues will allow you to avail the best treatments and also enable you to meet all your medical needs, without cutting into your savings.

Features & Benefits of the plan   

• Comprehensive cover for an extensive list of cardiac conditions and procedures
• Fixed lump sum payout irrespective of actual expenses incurred for diagnosis/procedure
• Multiple Claims of same or different conditions / procedures can be covered subject to the exhaustion of applicable Sum Insured
• Option to choose Indexation benefit to ensure that you stay ahead of medical inflation
• Option to choose Hospitalization benefit to get lump sum payout in case you are hospitalized due to any of the covered conditions
• Tax benefits under Section 80D of the Income Tax Act 1961^
• You have an option to pay premium once i.e. Single Premium or you can go in for a regular premium payment term that would be as per your policy term ranging from 5 to 40 years.
• The maximum Sum Assured that you can opt for under this plan is Rs. 50 Lakhs whereas the minimum is Rs. 2 Lakhs.

Conclusion

Around ten years ago, this need was still in its infant stage but since then, the rapid increase in heart-related ailments, especially among the youth, has brought this need to the forefront. Therefore in addition to your traditional health insurance policy, a fixed benefit cardiac care plan should also be included in your health portfolio. Deciding the cover amount required is also an important step and should be decided after considering various factors such as age, the costs of healthcare in city hospitals and the inflation rate related to these costs. Opting for a policy like HDFC Life Cardiac Care that would protect you financially from an extensive list of heart ailments would be the first step in the right direction.  

This plan is a fixed benefit health insurance plan that will help you be financially prepared for such exigencies related to cardiovascular conditions and is available on HDFC Bank NetBanking (Life Insurance section – HDFC Life).

Looking to apply for HDFC Life Cardiac Care? Click here to get started!

^Tax benefits are subject to changes in tax laws. Please contact your tax consultant for an exact calculation of your tax liabilities.