As there are various types of term insurance plans available in India, today I am sharing the list of best term plans with critical illness & disability riders. Majority of the people in India are now understanding the importance of a life insurance for the financial security of their family.
Savvy buyers pick term insurance due to the affordability and efficiency of these plans. However, even when purchasing a term life insurance, it is important to ask yourself whether the policy actually takes care of your insurance requirements?
For instance, what if you suffer from some critical illnesses, like stroke or heart attack, or are involved in an accident which results in permanent disability? This is where the term plans with critical illness and disability riders get into the picture.
With the help of such plans, all your medical costs and even rehabilitation costs will be covered if you suffer from a critical illness or permanent disability. Moreover, there are plans which waive off the premiums entirely if you are diagnosed with such illnesses or disability.
Top 10 Best Term Plan With Critical Illness & Disability Rider in India 2018
If you are looking for a term plan with critical illness and disability rider, we have created a list of 10 of the best plans to help you pick the right one.
10. Bharti AXA eProtect Term Plan
With the eProtect Term Plan, you can opt for premium waiver rider which will waive off all the future premiums if at all you are diagnosed with a critical illness, like open-chest CABG, first heart attack, kidney failure, major organ transplant, etc. or permanent disability.
9. HDFC Life Click 2 Protect Plus
With the Click 2 Protect Plan from HDFC Life, you can buy income benefit on accidental disability rider. With this rider, if you are diagnosed with a total and permanent disability, you will receive 1% of the sum assured every month for up to 10 years. Moreover, there is also an additional rider to cover a total of 19 critical illnesses.
8. LIC e-Term Plan
With LIC’s e-Term Plan too you can opt for a permanent disability and critical illness rider. The critical illness rider covers 15 illnesses and with the permanent disability rider, the basic sum assured will be given to the policyholder in 120 equal monthly installments.
7. Reliance Nippon Life Term Plan
The Life Term Plan from Reliance Nippon offers multiple sum assured payment option. The critical illness rider with this policy covers 25 illnesses and the permanent disability rider guarantees additional lump sum amount in case of total and permanent disability.
6. PNB Metlife Mera Term Plan
With the critical illness and permanent disability offered along with the Mera Term Plan, PNB Metlife waives off all the future premiums and guarantees higher sum assured. It also offers multiple sum assured payment options, like monthly and monthly income.
5. Max Life Term Plan Plus
Along with the Term Plan Plus, Max Life also offers Max Life Waiver of Premium Plus Rider. With this rider, all the future premiums are waived off if the policyholder suffers from a permanent disability or critical illness. Moreover, the rider also increases the assured sum.
4. ICICI Pru iProtect Smart
The iProtect Smart from ICICI Pru offers multiple sum assured payment options along with enhanced coverage against accidental death, disability, and terminal illness. The plan covers a total of 34 critical illnesses, like the nervous system and brain disorders, major burns, etc.
3. Birla Sun Life- Protector Plus Plan
With this plan, you can opt for accidental death and disability rider. If an accident results in your death, your nominee will receive the selected assured sum and if you are diagnosed with the permanent disability, you will get a fixed percentage of the assured sum on a monthly basis. There is also a critical illness rider which covers 4 critical illnesses.
2. SBI Life- Smart Shield
The critical illness rider available with SBI Life- Smart Shield plan covers a total of 13 critical illnesses. Apart from this rider, there are many other riders like accidental death benefit rider, permanent and total accidental disability rider, etc. This too is a highly affordable plan with excellent assured sum.
1. Aegon Religare iTerm
If you are looking for a policy with low premiums and high assured sum, the iTerm plan from Aegon Religare can be an excellent choice. It comes with an inbuilt terminal illness benefit and you can also take additional critical illness rider which covers stroke, heart attack, cancer and open-chest CABG.
Make sure that you thoroughly understand the rider before opting for a term insurance to get the maximum advantage and avoid any discrepancies in future.