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Health Insurance 1179 views April 17, 2021
Treatment of critical illnesses can prove costly considering the current healthcare system. In case you are diagnosed with a critical illness (life-threatening diseases), LIC Critical Illness Benefit Rider can come to your rescue! LIC provides this additional rider to enhance your overall protection and protect your finances in case you face a critical illness. Policyholders can attach this rider with their non-linked plan at the start of the policy to enjoy the add-on benefits on their base health insurance plan.
We are showing the key features of the LIC Critical Illness Benefit Rider below that you should check.
On this page, we will discuss all these features of the LIC Critical Illness Benefit Rider in detail so that you can understand it better. We will also talk about its other aspects such as sum assured, policy term, premium paying term, etc. So, let’s start!
Table of Contents
LIC Critical Illness Benefit Rider is a non-linked, non-participating, individual health insurance rider that will help you reduce your financial burden in case you face a critical illness.
With this rider, you will get a critical illness sum insured in case you are diagnosed with any of the 15 critical illnesses mentioned below.
Note: With the LIC Critical Illness Benefit Rider, you can only get coverage once during the policy term while the policy is in force. As soon as the critical illness sum assured is payable, your rider will cease to apply.
You will also get a grace period of 15 days ( for monthly rider premiums) and 30 days ( for half-yearly, quarterly and yearly rider premiums) from the due date of premium payment. You can pay the premium within this grace period without any effect on your rider benefits. Also, the premium payment mode will be the same as the base plan with which you are choosing this rider.
If an individual is not satisfied with the terms and conditions of this benefit rider from LIC, he/she can return the rider within 15 days from the date of receipt of the policy bond by stating the reasons of dissatisfaction.
Under LIC Critical Illness Benefit Rider, the individual can choose a minimum sum assured of INR 1,00,000. Talking about the maximum sum assured under this rider, it can be an amount equal to the sum assured on death under the base plan that cannot exceed INR 25,00,000.
To know the policy term and premium payment term for LIC Critical Illness Benefit Rider, you should check the below table.
Policy Term |
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Premium Payment Term |
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You should also check the eligibility criteria of the LIC Critical Illness Benefit Rider mentioned below.
Policyholders will not receive any benefits if the critical illness has occurred directly or indirectly due to the following reasons.