LIC New Critical Illness Benefit Rider Plan

Many of us think that we have a comprehensive insurance plan but often fail to realise that our insurance coverage does not cover critical illnesses. The number of critical illnesses that people are diagnosed with is increasing day by day. What would your loved ones do in your absence? Have you thought about their financial well being. A nominal fee that you pay to attach a critical illness rider will help you to a very large extent.

LIC New Critical Illness Benefit Rider Plan is a non-linked rider that focuses on reduces the financial burden that a life insured or his/her family members go through if the insured is diagnosed with any one of the pre-specified critical illnesses. Please note that this rider can be attached to only non-linked base plans offered by Life Insurance Corporation of India.

Eligibility – Who is theLIC New Critical Illness Benefit Rider Plan for?

To buy the LIC New Critical Illness Benefit Rider Plan, one has to meet the eligibility criteria set by the insurer.

Parameter	Details
Plan Type	Non-unit linked rider plan
Minimum Entry Age	18 years
Maximum Entry Age	65 years
Maturity Age	75 years

Sum Assured and Premium Range – What you get and what it costs

Sum Assured – It is the amount that is received by the insured person at the time of maturity. In case the insured individual encounters death and the LIC New Critical Illness Benefit Rider Plan is still active, the sum assured is received by the legal heir or a nominee assigned by the insured.

Parameter	Details
Minimum Sum Assured	Rs.1,00,000
Maximum Sum Assured	The maximum sum assured under this plan can be equal to or go up to the maximum sum assured on death as per the base policy. However, the maximum sum assured cannot cross Rs.25 lakhs.
Premium Payment Term	The premium payment term will be same as the base plan. However the following limits are applicable: For regular premium policies: 5 to 35 years. For limited premium policies: 5 to policy term 1 years.
Policy Term	The policy term will be same as the base plan. However the following limits are applicable: For regular premium policies: 5 to 35 years. For limited premium policies: 10 to 35 years.
Premium Payment Mode	Same as the base plan

Plan Coverage – What the LIC New Critical Illness Benefit Rider Plan covers?

The following conditions are covered by the LIC New Critical Illness Benefit Rider Plan:

Illness	Details
Cancer (of specified severity)	The diagnosis should be supported by medical/histological evidence of the malignancy. This covers leukemia, lymphoma and sarcoma.
Open Chest CABG	The undergoing of open heart surgery for the purpose of correction of one or more coronary arteries that have been narrowed or blocked via CABG or Coronary Artery Bypass Graft is covered. Diagnosis will have to be supported by an angiography.
Myocardial Infarction	The very first occurrence of a myocardial infarction resulting in the death of a part of the heart muscle due to inadequate blood supply to the required area.
Kidney Failure that requires regular dialysis	Final stage renal disorder that is presented as a chronic failure of both kidneys that is irreversible.
Major Bone Marrow/Organ Transplant	Undergoing of transplant of - Heart, lung, kidney, liver or pancreas that has was due to irreversible end-stage failure of the relevant organ, or Human bone marrow through the usage of haematopoietic stem cells.
Stroke resulting in permanent symptoms	A cerebrovascular that produces permanent neurological sequelae. This also includes thrombosis in intracranial vessel infarction of brain tissue, embolisation from an extracranial source or haemorrhage.
Permanent Limb Paralysis	Irreversible and complete loss of usage of two or more limbs due to disease or injury to either the spinal cord or brain. This condition must not be present for over 3 months.
Multiple Sclerosis	The clinical condition should have been persisted for a continuous 6 months.
Primary Pulmonary Hypertension(Idiopathic)	The condition has to be tested by a cardiologist or a specialist. The pulmonary artery pressure above 30 mm of Hg on Cardiac Catheterisation.
Alzheimer or Dementia	Medical condition should be confirmed by clinical evaluation and imaging tests.
Blindness	Blindness is total and irreversible loss of vision in both the eyes of the insured which is caused by an illness or an accident.
Third Degree Burns	The third degree burn scar should cover at least 20% of the surface area of the body.
Benign Brain Tumor	Benign Brain Tumor is covered if the tumor results in Permanent Neurological deficit with clinical symptoms which lasts for a continuous period of at least 90 consecutive days or if the insured person has gone through any surgical resection or radiation therapy to treat the brain tumor.

Riders/Add-on Plans – Additional coverage under the LIC New Critical Illness Benefit Rider Plan

This is a rider plan. No additional add-on can be added to this plan.

Exclusions – What the LIC New Critical Illness Benefit Rider Plan does not cover

Benefits or claims will not be entertained in case it is associated with either of the following, either voluntarily or involuntarily:

• Pre-existing medical conditions
• Illness related medical condition that manifests itself within a period of 90 days from risk commencement date.
• Opportunistic diseases that are associated with AIDS or if the policyholder is infected with HIV.
• Policyholder performing services in police, military or a similar organization.
• Policyholder taking part in riots, strikes, internal disputes, etc.
• Policyholder taking part in an illegal or criminal activity.
• Suicide, self-inflicted injury or attempted suicide, whether insane or sane.
• Nuclear radiation, contamination or reaction.
• The policyholder being under the influence of drugs, narcotics, or alcohol.
• The manifestation of a pre-existing physical condition that was diagnosed at a later stage
• The presence of a pre-existing physical condition that manifested or showed up after the rider's effective dates.
• A congenital condition
• Participating in dangerous or hazardous sports, etc.

Other exclusions are illness specific, as listed below:

Illness	Exclusions
Cancer (specified severity)	Malignant melanoma that has not caused invasion beyond the epidermis. Chronic lymphocytic leukaemia less than RAI stage 3. All tumors in the presence of HIV infection. Non-invasive papillary cancer of the bladder
Primary Pulmonary Hypertension(Idiopathic)	The below are excluded: Pulmonary hypertension which is associated with lung disease Chronic hypoventilation Pulmonary thromboembolic disease Drugs and toxins Diseases of the left side of the heart congenital heart disease Any other secondary cause
Benign Brain Tumor	Cysts Granulomas Malformations in the arteries or veins of the brain Hematomas Abscesses Pituitary tumors Tumors of skull bones Tumors of the spinal cord
Alzheimer or Dementia	Non-organic disease such as neurosis and psychiatric illnesses Alcohol-related brain damage.
Open Chest CABG	Angioplasty Other intra-arterial procedures
First Heart Attack (specified severity)	Acute Coronary Syndromes Any degree of angina pectoris
Major Bone Marrow/Organ Transplant	Stem-cell transplants Excluded if only islets of langerhans are transplanted
Stroke resulting in permanent symptoms	Transient ischemic attacks Traumatic injury to the brain Vascular disease that affects only the optic nerve or vestibular functions.
Repair of Heart Valves or Open Heart Replacement	Catheter dependent techniques including balloon valvuloplasty/valvotomy.
Aortic Surgery	Surgery performed using minimal invasive techniques are excluded.

Other Key Features

Rebate	Mode rebate is available. It will same as the base plan.
Grace Period	For yearly, semi-annual, and quarterly rider premium modes, the grace period is 30 days. Whereas, for monthly premium mode, the grace period is 15 days.
Revival	Revival of this rider completely depends on the base policy. All revival rules of the base policy is applicable on the rider.
Paid-up Value	Under the LIC New Critical Illness Benefit Rider Plan, no paid-up value is payable.
Surrender Value	No surrender value is available under this plan.
Free-look period	From the date of commencement of the policy, the policyholder will get 15 days to read the terms and conditions of the policy and if they do not agree to any terms, they can return the policy within the free-look period.

Tax Benefits – How you can save under the LIC New Critical Illness Benefit Rider Plan?

Under this plan, tax benefits are available under Section 80C and Section 10(10D) of The Income Tax Act, 1961.

Other benefits of LIC

• LIC has a dedicated customer service center that functions 24x7. You can get in touch with an insurance agent anytime from anywhere.
• Policyholders can report a claim online anytime.
• One can renew their policy online using the official LIC’s official website.
• Customers can also get a free quote within a few seconds using the website.
• Insurer's website has all the details that an individual may require for understanding any part of the insurance policy. The individuals can also access a broad range of financial products and services to learn and compare.
• Policyholders are allowed to make contributions through credit/debit card, cash, cheque, wire transfer and a host of other payment methods.
• The policyholders can make the payments in quarterly, monthly, half-years, yearly, one-off, and periodical cycle based on the type of the insurance/policy.
• The existing policyholders and customers can log on to the website to access an extensive range of services that are exclusively designed for them.
• The insurer specializes in providing personalized plans to the customers that suits their requirements while keeping the budget at utmost priority.

Why you should buy the LIC New Critical Illness Benefit Rider Plan from LIC?

Life Insurance Corporation of India is one of the leading insurance provider in India. Headquartered in Mumbai, this state-owned insurance company is one of the largest insurance provider in the country. Founded in the year 1956, over 245 insurance bodies were merged to make it LIC. From group insurance plans to individual life insurance plans, LIC offers it all. It is one of the most trusted brand in the insurance industry in India.