Life surprises us in many ways. Some things work out the way we want some don’t. You may be fit as a fiddle today but who knows you many fall prey to some deadly diseases or say critical illness at some point in life. A sensible decision one could make here is to buy a policy with Term Insurance Plan. There are a plethora of policies in the market. Buying a Term Insurance Plan makes sense as they offer large amount assured at low premiums. There are different riders available with the Term Plans.
A critical illness rider is one of the adds on feature that enhances the features of your policy. You many be financially burdened in absence of such riders. If the policy holder is diagnosed with any critical illnesses the critical illness rider helps him/her with a lump sum amount. Riders are one of the ways to extend protection to your policies by adding additional benefits by paying extra premium. Critical Illness Rider is often strongly advocated in case of health issues wherein you may live out of your savings.
The Health Insurance Policy does give you cover for major diseases. It covers the medical and hospitalization costs. For that need you need to have a Critical Illness Rider insurance which benefits while paying you a lump sum amount if diagnosed with major critical illnesses. The claims can be made only when the policy is active. The total amount one is insured for is chosen at the time of buying policy. The same is released upon diagnosis of any illness. One point not to be missed is that some policies do not cover critical illnesses that are contracted within 90 days of buying the coverage. This is not applicable on renewal policies. The claim is normally settled within a period of 21 days upon submitting the valid documents. Make sure that you go through the terms and conditions before opting for one. Nothing is more important than our health. So, our real wealth is health. Without stretching more on the topic of the importance of adding Critical Illness Cover to your Term Plan cannot be overlooked.
Endowment Plan - This article lists down the benefits of endowment plan in your life insurance poicy which also helps you in selecting the best endowment policy
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