Diseases that affect the crucial body parts like heart and brain are categorized as critical illnesses by the World Health Organization (WHO). They are complicated and require expensive treatment. These critical illnesses often drain out people’s savings who do not have enough financial backup. It is where a term plan with a critical illness rider comes to use.
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Many health policies come with additional rider benefits, which can be added to the base plan for an extra premium. Some of the common riders are accidental death benefit riders, premium waiver riders, and critical illness riders.
Term plans with rider benefits provide additional coverage against multiple life-threatening diseases.
With rising inflation, the treatment costs of life-threatening diseases have become expensive for most people. Term insurance with critical illness rider covers most of the uncertain aspects of life like death and diseases.
Following are some of the life-threatening illnesses that are covered by the critical illness rider:
Besides the apparent benefit of getting financial protection against the rising costs of treatment, a few other benefits of a term plan with a critical illness rider. They are:
Every individual fulfilling the following criteria is eligible for buying term insurance:
However, it is also important to remember that children too are at the risk of contracting critical illnesses. The following table shows the best child plans with critical illness coverage:
Plan name |
Insurer |
Eligibility |
Tenure |
Coverage |
Critical Illness Insurance |
Bajaj Allianz |
91 days – 80 Years |
1 year |
1 lakh – 50 lakhs |
Critical Illness Insurance Plan |
Bharti AXA |
3 months – 55 years |
1 year |
Depending on requirement |
Care Health Assure Insurance Policy |
Care Health Insurance |
5 years – 50 years |
1-3 years |
INR 10 lakhs – INR 2 crores |
Cancer Medical Expn-Individual Plan |
New India Assurance Health Insurance |
0-70 years |
1 year |
INR 50,000 – 2 lakhs |
Critical Illness Insurance Policy |
SBI Health Insurance |
0- 65 years |
1-3 years |
Up to INR 50,00,000 |
Here are the comprehensive term plans that offer critical illness riders:
This term plan can only be purchased online, making it convenient for potential buyers to complete the process from home. Online buying gives them the liberty to choose and customize their policy strictly according to their needs.
It provides many options to the customer in almost all of its aspects. If bought smartly, then this plan can provide financial protection for a longer time and secure the future for the entire family.
This plan also gives the customer the liberty to select the plan's features according to their requirement. Moreover, it comes with the additional benefit of enhancing the coverage provided by the policy.
It is an excellent plan that provides a wide range of benefits to the insured. In addition, it has an exceptional feature of balancing the life and critical illness cover along with an in-built feature of waiving off the future premiums.
This policy helps the customer safeguard the life goals and provide life assurance. It has a variant that includes coverage for child education along with providing life cover.
It is a convenient plan that provides life assurance and coverage for critical illnesses. The best fact is that the premium cost remains the same throughout the policy.
To sum it up, anyone willing to ensure an extra layer of financial protection against medical expenses can buy a term plan with a critical illness rider. It is an excellent benefit that safeguards the insured and their families from financial burden.
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