Critical Illness Riders: What You Should Know

What is a Critical Illness Rider?

An add-on to your life insurance policy that pays out a lump sum if you’re diagnosed with a specified critical illness (e.g., cancer, heart attack, stroke).

Key Benefits

• Financial Support: Helps cover medical expenses and loss of income.
• Lump Sum Payout: Paid regardless of actual medical bills.
• Peace of Mind: Provides extra protection beyond basic life cover.

Commonly Covered Illnesses

• Cancer
• Heart Attack
• Stroke
• Kidney Failure
• Major Organ Transplant
• Paralysis

Things to Consider

• Premium Cost: Riders increase your overall premium.
• Waiting Period: Usually a waiting period before coverage starts (e.g., 90 days).
• Coverage Limits: Payout amounts and covered illnesses vary by policy.
• Claim Conditions: Strict medical proof often required.