Term Insurance Critical Illness Riders
  • Enhance Your Cover
  • Covered Diseases Under CI Rider
  • How to Buy CI Rider
Term Insurance with Critical Illness Rider
Buy Policy in just 2 mins

Buy Policy in just 2 mins

Happy Customers

2 lakh + Happy Customers

Free Comparison

Free Comparison

Customized Term Insurance Plan for you.

Get upto 10% Online Discount*

Gender

Age

Term Insurance with Critical Illness Cover

Critical illnesses are life-threatening diseases in which the risk of imminent death is high, such as cancer, a heart attack, a stroke, Etc. However, an unhealthy lifestyle leads to diseases, causing critical illnesses. There's no doubt that critical illnesses strain not only your health but also your finances. With term insurance, critical illness rider coverage secures policyholders by offering a lump sum amount in case the insured person is diagnosed with a listed critical illness.

In addition to this, you can add a critical illness rider to your existing plan and obtain the rider sum assured in exchange for a nominal additional premium. Learn more about critical illness riders and the best term insurance offering critical illness coverage in India.

What is a Critical Illness Rider?

Critical Illness Rider is an optional add-on benefit that you can add to your base term insurance policy. The rider covers all the listed critical illnesses in your term plan. Once any of the mentioned critical illnesses is diagnosed the rider comes into effect and provides the sum assured to the policyholder as a lump sum.

The Critical illness rider is added to a term insurance policy at the time of purchase and it comes at a very nominal cost which amounts to 800-1000 INR annually.

Disease Covered Under a Critical Illness Rider

Critical illness doesn’t just happen to others who are living unhealthy lifestyles. It can happen to you, too, if there have been critical illness diagnostics in your family.

Hence, getting the critical illness rider is an excellent option to gain comprehensive coverage. Under this add-on rider, you can get cover against the diagnosis of listed critical illnesses. Please note that the list of critical conditions covered may vary from insurer to insurer.

Alzheimer's Disease Aorta Graft Surgery Aplastic Anaemia
Brain Surgery Cancer Chronic Lung Disease
Coma Encephalitis Loss of Independent Existence
Loss of Speech Major Burns Major Organ/ Bone Marrow Transplant
Motor Neurone Disease with permanent symptoms Muscular Dystrophy Coronary artery by-pass grafts (with surgery to divide the breastbone)
Permanent Paralysis of limbs Primary Pulmonary Arterial Hypertension Systemic lupus Eryth. w. Renal Involvement
Angioplasty Apallic Syndrome Benign Brain Tumor
CABG (Coronary artery bypass graft) Cardiomyopathy Chronic Liver Disease
Deafness Heart Valve Surgery Loss of Limbs
Kidney Failure (End Stage Renal Failure) Major Head Trauma Medullary Cystic Disease
Multiple Sclerosis with persisting symptoms Myocardial Infarction (First Heart Attack) Parkinson's Disease
Poliomyelitis Stroke resulting in permanent symptoms Total Blindness

How Does Term Insurance With Critical Illness Work?

Here is how you can avail the benefits of a Critical Illness Rider

  • Add the critical illness rider while purchasing your term policy. You will see the option of adding riders to your base plan.
  • If diagnosed with a listed CI during the policy tenure, submit a diagnosis report signed by your doctor to the insurer.
  • The insurer will pay the sum assured in lump sum and the policy will come to an end.
  • Use the lump sum to get the treatment of your critical illness.

Perks of Term Insurance with Critical Illness Rider

The insurance provider offers policyholders the flexibility to add riders to an existing plan at a nominal cost to ensure extra protection. These riders are undoubtedly helpful, especially if your family has a medical history of critical illnesses. Here, we've listed benefits associated with Term Insurance with Critical Illness riders.

  • Income Replacement

    If you get diagnosed with one of the Critical Illnesses and lose the ability to work, the Critical Illness Rider can serve as a temporary source of income while you are undergoing treatment. These riders offer a wide range of flexibility, wherein you can utilize the funds received to serve different needs i.e. hospitalisation or non- hospitalisation.
  • Better Chances of Survival

    With the cost of medical treatment running up to lakhs and lakhs of rupees, it is nearly impossible for an average middle-class household to cover the treatment expenses. As a result, you will often see families give up on the treatment process. Sum Assured with Critical Illness Rider allows you to get access to proper diagnosis and quality treatment, and in turn, improve your chances of survival.
  • Immediate Payout Post Diagnosis

    A very important reason to consider opting for this rider is that you do not have to wait for the Sum Assured till after the treatment. This essentially means that you are entitled to receive the full amount assured under the rider, right after being diagnosed with the Critical Illness. This eliminates the need for you to pay out of pocket for the treatment or hospitalization expenses that you will incur as a result of it.
  • Protection against Medical Inflation

    Medical inflation rose from 3.8% in December 2019 to 7.7% in June 2021*. This has been a growing case of concern given that nearly half of the population in India loses out on quality care as a result of it. Therefore, you should give this rider some serious consideration, more importantly if you have a family history of any of the Critical Illnesses.
  • Tax Benefits

    The premiums paid towards a Term Plan are eligible for Tax Benefits under Section 80C of the Income Tax Act, 1961. Up to Rs. 1.5 Lakhs is deductible from your taxable income with Term Insurance. Further, the benefits received are exempt under Section 10 (10D) of the Income Tax Act.
  • Additional Coverage against Medical Expenses

    The Critical Illness Rider can prove to be particularly helpful if you are also covered under a Health Insurance Policy. With the combined coverage of both the policies, you are more likely to be able to afford the best of treatments against serious illnesses without burning a hole in your pocket.

Eligibility Criteria of a Critical Illness Rider

Critical illness riders come with a waiting period, which is usually 90 days. Check the Terms & Conditions with your respective insurer, as they may vary from company to company. Let's take a look at the eligibility criteria for critical illness coverage:

Criterion Minimal Maximum
Entry Age 18 years 65 years
Sum Assured Minimum Sum Assured of your term policy. Maximum Sum Assured of your term policy.
Waiting Period It comes with a waiting period of usually 90 days.
Premium Payment Term Regular, Limited, or Single Pay
Premium Payment Mode Same as the base term plan

Compare Best Term Insurance Plans with Critical Illness Cover

The following table presents a few examples of Best Term Insurance policies that offer the Critical Illness Rider.

Insurance Company Term Plans Critical Illness Benefit
PNB MetLife PNB MetLife Mera Term Plan Plus Coverage against 50 Critical Illnesses
Max Life Max Life Smart Term Plan Coverage against 64 Critical Illnesses
HDFC Life HDFC Life Click 2 Protect Life Coverage against 19 Critical Illnesses
Bajaj Allianz Bajaj Allianz Life Smart Protect Goal Coverage against 55 Critical Illnesses
SBI Life SBI Life – Poorna Suraksha Coverage against 36 Critical Illnesses
ICICI Pru ICICI Pru iProtect Smart Coverage against 34 Critical Illnesses

Other Term Insurance Riders

Conclusion

Healthcare facilities costs are forever rising and thus are increasing the treatment costs of life threatening illnesses. Because of this, it becomes very important to take all the necessary steps to be prepared for critical illnesses if you suspect them happening to you due to your family history, your lifestyle, or the kind of work that you do. Undoubtedly, critical illness coverage financially empowers you to manage the treatment costs of several life-threatening diseases and gives you a sense of being prepared to fight them.

Term Insurance with Critical Illness Rider: FAQs

1. What is a Critical Illnеss Ridеr?

A Critical Illnеss Ridеr is an optional add-on to a tеrm insurancе policy that offеrs financial protеction if thе insurеd pеrson is diagnosed with a spеcifiеd critical illnеss.

2. What critical illnеssеs arе typically covеrеd by this ridеr?

Thе spеcific illnеssеs covеrеd can vary, but common еxamplеs includе heart attacks, cancеr, coma, kidnеy failurе, strokе, and morе.

3. How doеs thе ridеr providе financial support?

It providеs a lump-sum payout upon diagnosis, which can be used for mеdical bills, spеcializеd trеatmеnts, rеhabilitation, and othеr еxpеnsеs, including daily living costs.

4. Doеs thе ridеr affеct thе basе tеrm insurancе policy?

No, thе Critical Illnеss Ridеr opеratеs indеpеndеntly of thе basе policy. It doesn't impact thе basе lifе insurancе covеragе, and thе dеath bеnеfit rеmains payablе to bеnеficiariеs.

5. Is thеrе a waiting pеriod for claiming thе ridеr bеnеfit?

Yеs, thеrе is usually a waiting pеriod (oftеn 90 days) after diagnosis bеforе you can claim thе ridеr bеnеfit. Bе surе to chеck your policy for specific tеrms.

6. Why should I consider adding a Critical Illnеss Ridеr to my tеrm plan?

Critical Illnеss Ridеrs providе additional financial protеction against high mеdical еxpеnsеs, offеr incomе rеplacеmеnt during trеatmеnt, and protеct against rising mеdical inflation.

7. How can I avail thе bеnеfits of thе Critical Illnеss Ridеr?

Upon diagnosis of a critical illness, you nееd to submit a diagnosis rеport signed by a mеdical practitionеr. Aftеr vеrification, thе insurancе company pays out thе lump sum, which can bе usеd for trеatmеnt-rеlatеd еxpеnsеs.

8. What are thе еligibility criteria for buying Critical Illnеss Insurancе Covеr?

Thе minimum еntry agе is typically 18 yеars, and thе maximum agе for adding thе ridеr to your tеrm insurancе is usually 65 yеars. Prеmiums arе thе samе for both gеndеrs whеn purchasing a basic tеrm insurancе plan.

Other Term Insurance Companies

What Our Customers Have to Say

Customer Review Image

Sanjeev

Hyderabad

May 20, 2024

SUD Life term plan truly stands out my expectations as I got SUD Life term plan along with additional riders at very affordable premiums.

Customer Review Image

Sumit

Coimbatore

May 20, 2024

I am impresses with the hassle free and quick claim settlement process of SUD Life. Thanks to PolicyX who guided me to get my claim settled.

Customer Review Image

Barkha

Delhi

May 20, 2024

Bought SUD Life Family Income Benefit Rider plan to secure the future of my plan financially even in my absence.

Customer Review Image

Geetanjali

Kolkata

May 20, 2024

I was looking for a term plan to secure the future of my family. So I contacted PolicyX and one of their representatives Mr. Vaibhav helped me choose SUD Life term plan.

Customer Review Image

Armaan khan

Agra

May 17, 2024

I recently purchased a Pramerica term insurance policy from Policyx.com. The customer service team was very helpful in answering all my queries and guiding me through the application process. I...

Customer Review Image

Rahul Yadav

Indore

May 17, 2024

PolicyX’s dedicated support made renewing my Bandhan Life Insurance policy easy. I’m absolutely delighted with the service offered by PolicyX Insurance Advisor.

Customer Review Image

Priyanshu Sharma

Delhi

May 17, 2024

I bought a Bandhan Life Insurance through PolicyX, and I must say the level of communication and assistance I have received has been truly impressive.

Customer Review Image

Yash Tomar

Bhopal

May 17, 2024

After getting advice from the PolicyX experts, I chose a Bandhan Life Insurance term plan. Thank you, PolicyX, for helping me buy a term plan at such a low premium.

Sahil Singh Kathait

Written By: Sahil Singh Kathait

Sahil is a passionate content writer with over two years of expertise in the insurance domain. He uses his knowledge in the field to create engaging content that the customer can relate to and understand. His passion lies in simplifying insurance terminology, ensuring a hassle-free understanding for potential policyholders. With his outstanding collaborative efforts with people, he understands different perspectives and keeps readers' viewpoints at the forefront of his content writing approach.