FAQ's related to Shriram Life Critical Illness Plus Rider
What is the Critical Illness Plus Rider?
It offers a lump sum payout on the first diagnosis of any of the 24 covered critical illnesses.
Who is eligible to buy this rider?
Individuals aged 18 to 65 years at entry.
What is the maximum age at maturity?
The rider matures at age 70 (last birthday).
When can this rider be added?
At the time of base policy purchase or on policy anniversary.
What is the minimum and maximum sum assured?
₹50,000 to ₹25,00,000, subject to underwriting limits.
Is the benefit paid multiple times for different illnesses?
No, the benefit is paid only once on the first diagnosed illness, then the rider terminates.
Can I claim the rider benefit if I am diagnosed with a covered illness outside India?
Yes, provided the diagnosis is confirmed by a medical practitioner recognized by the Medical Council of India or equivalent authority.
What is the Loyalty Addition benefit?
After 3 full years of premium payment, the sum assured increases by 15%.
Is there a death or maturity benefit under this rider?
No, it offers only critical illness coverage.
Can the rider be revived independently?
No, it must be revived with the base policy.
Does the rider cover hospitalization expenses?
No, it offers only a lump sum payout on diagnosis.
What if the policy is in a lapsed or paid-up state?
Loyalty additions won't apply, and benefits are limited or unavailable.
Are pre-existing illnesses covered?
No, claims from pre-existing illnesses diagnosed before policy issuance are excluded.
What happens to the base policy after a claim is paid under the Critical Illness Plus Rider?
The rider terminates after the claim, but the base policy continues as long as premiums are paid and policy terms are met.
