Enhance Your Life Insurance Coverage with Shriram Life Critical Illness Care Rider
FAQs for Shriram Life Critical Illness Care Rider
Which critical illness can I claim for under the Shriram Life Critical Illness Care Rider?
Under the Shriram Life Critical Illness Care Rider, you can claim for six critical illnesses that you might suffer during the coverage duration:
- Cancer
- Stroke
- First heart attack
- Open-chest coronary artery bypass graft
- Bone marrow or major organ transplant
- Kidney failure resulting in regular dialysis
How do I calculate the premium for Shriram Life Critical Illness Care Rider?
You can calculate the premium for Shriram Life Critical Illness Care Rider based on the sum assured, coverage duration, age, medical history and such factors.
How much additional premium will I have to pay to buy the critical illness insurance rider?
You do not need to pay any additional premium to buy the critical illness insurance rider. The rider premium is deducted by cancelling the units of the unit-linked plan every month.
Which Shriram Life Insurance plans can I add the Critical Illness Health Insurance Rider to?
You can add the Critical Illness Health Insurance Rider on the following Shriram Life Insurance plans:
- Shriram Fortune Builder Plan
- Shriram Wealth Plus Plan
How can I use the benefit received from the critical illness health insurance rider?
You can use the benefit received from the critical illness health insurance rider for any financial obligations. For example, the benefit can be used for:
- Advanced medical treatments
- Paying off a loan
- Meeting the lifestyle expenses of your family
- Adding to your income in case you lose your job
- Paying for your child's higher education
Will my rider premium for Shriram Life Critical Illness Care Rider change during the policy tenure?
Your rider premium for Shriram Life Critical Illness Care Rider can change during the policy tenure. Shriram Life Insurance may revise rider premiums every three years.
Can I revive a rider if the base plan is also revived?
You can revive a rider if you revive the base plan. You will have to pay the outstanding rider premiums with any interest to revive the rider.
Can I add the critical illness insurance rider to two or more policies?
You can add the critical illness insurance rider to two or more policies. However, the aggregate rider sum assured under all the policies should not exceed ₹25 lakhs on a single life.
How much premium will I be refunded if I cancel the critical illness insurance rider during the free-look period?
The full rider premium is refunded if you cancel the critical illness insurance rider during the free-look period. However, the administrative expenses of issuing the policy will be deducted from the premium before the refund.
How often can I claim under the critical illness insurance rider?
You can claim only once under the critical illness insurance rider. Once the rider benefit is paid, the rider coverage is terminated.