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Health Insurance 431 views July 20, 2021
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:
Read this page further and know more about the Exide Life Critical Illness Rider coverage.
Table of Contents
You can choose from the following options:
Option A: Here, the insurer will provide you protection against four major critical illnesses such as –
Option B: The insurer shall cover up to 25 major critical illnesses under this variant, such as –
You can add this rider to your insurance plan if you meet the following age criteria:
Note: Critical Illness Rider ceasing age is 70 years.
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:
Note: For monthly mode, premiums for three months need to be paid in advance on the date of commencement of the policy.
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.
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.