LIC’s New Critical Illness Benefit Rider is a non-linked rider that can be attached to non-linked base policies offered by Life Corporation of India. This rider can be attached at the time of policy inception. Under this plan, you can get the following benefits:
Listed below are the eligibility factors you must meet to purchase LIC’s New Critical Illness Benefit Rider:
|Entry age||18 to 65 years|
|Maturity age||Up to 75 years|
The premium amount, Policy Term, PPT, and Sum Assured for LIC’s New Critical Illness Benefit Rider are as follows:
|Sum Assured||Minimum Rs.1 lakh to maximum Rs.25 lakhs|
|Premium Payment Term (PPT)||Same as base plan Regular premium: 5 to 35 years Limited premium: 5 to (policy term - 1) years|
|Policy Term||Same as base plan Regular premium: 5 to 35 years Limited premium: 10 to 35 years|
|Premium Payment Mode||Same as base plan (Yearly, half-yearly, quarterly or monthly)|
Premium rates are guaranteed for the first 5 years and revisable thereafter depending on the critical illness experience.
Under LIC’s New Critical Illness Benefit Rider, you get the following benefits:
LIC’s New Critical Illness Benefit Rider doesn’t cover any of the 15 critical illnesses if it is caused directly or indirectly by the following events:
Listed below are the key features of LIC’s New Critical Illness Benefit Rider:
Under LIC’s New Critical Illness Benefit Rider, you can get tax benefits on premiums paid towards critical illness rider under Section 80D of the Income Tax Act, 1961.
There are several other benefits of purchasing group insurance plans from Life Insurance Corporation of India such as:
Following are the reasons why you should buy LIC’s New Critical Illness Benefit Rider from Life Insurance Corporation of India:
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