Guide To Critical Illness Rider

An Essential Guide To Critical Illness Rider

What is a Critical Illness Rider?

A critical illness rider is an add-on usually available with term insurance plans. It provides a lump sum payment if the policyholder is diagnosed with a specified critical illness. This lump sum can be used to cover medical expenses, loss of income, or any other financial burden during the recovery period.

How Does a Critical Illness Rider Work?

When a critical illness rider is attached to a life cover, the cost of this rider is included in the total premium. Upon diagnosis of a covered critical illness, the policyholder can claim the lump sum payout, which can also be eligible for tax exemptions.** This payout may be independent of the regular life insurance benefit, ensuring that the policyholder's family remains financially protected.

Why Should You Get a Critical Illness Rider?

If you are worried about severe ailments but are not willing to spend on a separate plan, you may find a critical illness rider helpful.

Here are some of the reasons why you should consider getting a critical illness rider.

High Medical Costs:

With rising healthcare expenses, a critical illness rider ensures you have the necessary funds for treatment.

Comprehensive Protection:

Adds an extra layer of protection to your term life insurance cover.

Peace of Mind:

Knowing you are financially covered during a health crisis can reduce stress and aid in recovery.

Understanding what a critical illness rider is can help you evaluate its value to you. It can help you to enhance your insurance coverage and attain peace of mind.

Incorporating a term insurance critical illness rider into your policy can be a wise decision, providing comprehensive coverage and support when you need it most. Make sure to carefully assess the coverage options and costs to choose the best rider for your needs.

** Tax exemptions are as per applicable tax laws from time to time.

Disclaimers:

IndiaFirst Life Insurance Company Limited, IRDAI Regn No.:143, CIN: U66010MH2008PLC183679, Address: 12th & 13th floor, North [C] Wing, Tower 4, Nesco IT Park, Nesco Center, Western Express Highway, Goregaon (East), Mumbai – 400 063. Toll-free No – 18002098700. Email Id:customer.first@indiafirstlife.com, Website: www.indiafirstlife.com, Fax No. +91226570600. For more details on risk factors and terms and conditions, please read the sales brochure carefully before concluding the sale. Trade logo displayed above belongs to our promoter M/s Bank of Baroda and is used by IndiaFirst Life Insurance Co. Ltd. under license.

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