Tell me about the RHB Critical Guard
RHB’s Critical Guard is a comprehensive critical illness protection plan made for the working-class person in mind. With four plans to choose from and affordable premiums, there is little to complain about where this policy is concerned.
This policy is available to both adults and children, so parents who’d like to include your kids, they need only be more than 30 days of age. The maximum entry age for this policy is 60 years old after which, you can continue to renew the policy till the age of 70.
How much does is cover and what are some exclusions?
It covers an extensive list of critical illnesses from cancer to heart disease, including kidney or liver failure, brain surgery, burns, trauma and organ transplants should you need it.
However, it does not cover, pre-existing illnesses or disabilities. Another exclusion is any condition resulting from the use or existence of nuclear weapons materials, or ionizing radiation from contamination by radioactivity. Besides that, insanity, self-inflicted harm, suicide or any attempt at threat to your life or someone else is not covered under the policy.
There is a waiting period from registration to the approval of your policy, any critical illness discovered in that period will not be covered under the policy.
Are there any benefits?
Sure, there are, besides the fact you have 4 plans to choose from each plan will offer you a full lump sum payout should you be diagnosed with any of the critical illnesses covered by the plan. In addition to that, if you are so lucky not to have contracted an illness there is a loyalty benefit for you to indulge in. RHB will increase the principal sum assured by 10% each year you do not make a claim up to maximum of 50%.
If however, you are diagnosed with certain specific critical illness you will be given an additional 10% in your payout of the Principal sum.
Can I cancel this policy and get a refund?
Cancellations are a delicate area when it comes to insurance policies. There is indeed a 15-day cooling period from the time you get your policy approved where you can write to RHB asking for a cancellation. It is in this cooling period that you will get back any premiums you have already paid.
Should you decide half way thorough your contract that you no longer need the protection plan, then the same rules apply where you will need to write to RHB notifying them of your cancellation, but there will need to be a negotiation where the refund is concerned.