The purpose of the Lump Sum Critical Illness (LSCI) plan is to provide a one-time lump sum payment specifically for critical illnesses. This plan is designed to offer financial support to policyholders when they are diagnosed with serious health conditions, such as cancer, heart attack, or stroke. The lump sum payment can be used at the policyholder's discretion, allowing them to cover various expenses that may arise during their recovery or treatment, such as paying for medical bills, seeking alternative therapies, or managing everyday living expenses while they focus on their health.
This approach stands out from other insurance products that typically provide ongoing monthly payments or cover a broad range of medical expenses. The LSCI plan's structure is aimed at addressing the immediate financial impact that a critical illness can have, rather than managing long-term ongoing care or disability payments.