Health Insurance 154 views July 20, 2021

Exide Life Critical Illness Rider

Exide Life Critical Illness Rider provides you financial protection in case you are diagnosed with a critical illness during the policy term. By adding this rider, you can ensure financial protection for your loved ones. Check out the key features of this plan below:

  1. Lump sum payment of rider sum assured on diagnosis of any of the covered critical illnesses
  2. Two variants available

Read this page further and know more about the Exide Life Critical Illness Rider coverage.

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Exide Life Critical Illness Rider Coverage

You can choose from the following options:

Option A: Here, the insurer will provide you protection against four major critical illnesses such as –

  1. Cancer of Specified Severity
  2. First Heart Attack – of specified severity
  3. Stroke resulting in Permanent Symptoms
  4. Open Chest Coronary Artery Bypass Graft (CABG)

Option B: The insurer shall cover up to 25 major critical illnesses under this variant, such as –

  1. Cancer of Specified Severity
  2. First Heart Attack – of specified severity
  3. Stroke resulting in Permanent Symptoms
  4. Open Chest Coronary Artery Bypass Graft
  5. Kidney Failure Requiring Regular Dialysis
  6. Major Organ/ Bone Marrow Transplant
  7. Benign Brain Tumour
  8. Permanent Paralysis of Limbs
  9. Coma of Specified Severity
  10. Blindness
  11. Major Burns
  12. Heart Valve Surgery
  13. Surgery of Aorta
  14. Motor Neurone Disease with Permanent Symptoms
  15. Multiple Sclerosis with Persisting Symptoms
  16. Aplastic Anaemia
  17. End-Stage Liver Disease
  18. Chronic lung disease
  19. Alzheimer Disease
  20. Parkinson’s disease
  21. Loss of speech
  22. Major Head Trauma
  23. Primary Pulmonary Hypertension
  24. Systemic Lupus Erythematosus with Lupus Nephritis
  25. Apallic Syndrome

Eligibility for Exide Life Critical Illness Rider

You can add this rider to your insurance plan if you meet the following age criteria:

  1. Minimum Age at Entry – 18 years
  2. Maximum Age at Entry – 65 years

Note: Critical Illness Rider ceasing age is 70 years.

Exide Life Critical Illness Rider Policy Term & Premium Payment Option

This rider policy term ranges from 5 to 40 years, and the premium payment term is the same as the policy term. You can choose to pay your premiums yearly, half-yearly, quarterly or monthly. The premium payment mode will be the same as that of the base policy. The following modal factors shall apply to the premium:

  1. Monthly – 1
  2. Quarterly – 2.895
  3. Half-Yearly – 5.61
  4. Yearly – 10.86

Note: For monthly mode, premiums for three months need to be paid in advance on the date of commencement of the policy.

Waiting and Survival Period

The critical illness benefit is available to you only if the same is diagnosed after the completion of the waiting period of 90 days from the policy commencement date or the date of reinstatement, whichever is later. And the benefit is payable to the life assured only if he/she survives for 30 days from the date of diagnosis of the critical illness.

Free Look Period

You have a free look period of 15 days from the date of receipt of the rider policy document to review the terms and conditions. If you have any objections, you can return the policy stating the reasons for it. On such cancellation, Exide Life will refund the rider premium after a deduction of medical examination expenses, stamp duty charges (if applicable) and proportionate risk premium for the period on the cover.

Note: In case the policy is sourced through distance marketing, the free look period is 30 days.

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