Benefit of taking Critical Illness Rider under Term Life Policy

By | March 22, 2022

Benefits of Critical Illness Rider Under Term Life Policy In this article we talked about Critical Illness Policy under health insurance. This time we will learn about the critical illness cover available as part of a life insurance policy and compare the two. A Critical Illness Policy pays a lump sum when certain illnesses are diagnosed.

Such a policy should be taken especially by those in the family whose elders have been suffering from problems like cancer, kidney failure, liver failure, coronary artery bypass surgery, etc. Term Life Policy comes with Critical Illness Cover. This cover is provided by adding a little more amount to the term life premium. The specialty of Critical Illness Cover taken with Term Life is that the premium remains the same throughout the policy term.

Here are some important points to keep in mind when buying a critical illness cover:

Lastly, if you have not yet taken out a term life policy, take out a policy by adding a Critical Illness Rider, as the premium remains the same for the entire term of the policy.

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