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Benefits, conditions of critical illness rider

The critical illness benefit covers illnesses that are on a pre-determined list of the policy offered by an insurer. The number of illnesses covered differs from insurer to insurer.

Hence, it is necessary for the life assured to understand the benefits and conditions offered by the insurer thoroughly before selecting the benefit. The critical illness benefit will not cover any pre-existing critical illness or congenital conditions. There would be a waiting period for making a claim - a claim can only be made if a critical illness is diagnosed after the waiting period is over.

There will also be a survival clause. The benefit is payable only if the life assured survives a certain period after being diagnosed with the critical illness. If death occurs before the pre-defined period after diagnosis, the benefit will not be payable.

To understand the nuances of different types of policies and its price, feel free to seek the help of InsuranceMall to select the right products based on your need. Or you can directly call them on +91-22-30503050

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