Critical Illness Rider

CRITICAL ILLNESS RIDER

1. Overview

• This Rider provides financial coverage against 25 specified Critical Illnesses, offering a lump-sum payout of 25% of the Base Policy’s Sum Insured upon diagnosis during the policy period (subject to terms).

2. Key Features

• Type: Add-on Rider (cannot be purchased standalone).
• Eligible Base Policies: 10 listed policies (e.g., New India Mediclaim, Arogya Sanjeevani, etc.).
• Sum Insured: 25% of the Base Policy’s Sum Insured (min. Base SI: ₹5 lakhs).
• Age Eligibility: 18–55 years (entry age).
• Coverage Ceases: After claim payout for any one Critical Illness.

3. Covered Critical Illnesses (25 Conditions)

1. Cancer of Specified Severity
2. Kidney Failure Requiring Dialysis
3. End-Stage Liver/Lung Failure
4. Major Organ/Bone Marrow Transplant
5. Open Heart Surgery (Valve Repair/Replacement, CABG)
6. Stroke with Permanent Symptoms
7. Permanent Paralysis/Limb Loss
8. Myocardial Infarction (First Heart Attack)
9. Alzheimer’s/Parkinson’s Disease
10. Blindness/Deafness/Loss of Speech

(Full list as per Section 2 of the Prospectus)

4. Waiting Period & Exclusions

• Waiting Period: 90 days from policy inception (not applicable for renewals).
• Exclusions:
  • Pre-existing conditions.
  • Illnesses diagnosed within 90 days.
  • Conditions not listed as Critical Illnesses.

5. Claim Process

• Payout: 25% of Base SI paid as lump sum upon diagnosis.
• Policy Termination: Rider terminates after claim settlement.

6. Premium Calculation

Premium = (Sum Insured × Rate per ₹1000) / 1000

*(Example: For a 40-year-old with ₹10L Base SI, 1-year premium = 10,00,000 × 3.05 / 1000 = ₹3,050)*

7. Important Conditions

• Ineligibility: Individuals already diagnosed with a Critical Illness.
• Children: Covered only if aged 18+.
• Renewals: Allowed up to age 80 (81+ only annually).

8. Cancellation

• As per terms of the Base Policy.

9. Unique Identification Number:NIAHLIA25063V012425