Insurance Awareness - Life Insurance - LIC
Which rider provides a lump sum payment upon diagnosis of specified critical illnesses under a life insurance policy?
Which rider provides a lump sum payment upon diagnosis of specified critical illnesses under a life insurance policy?
easy Q13 of 15
Step-by-Step Solution
Step 1: Understand rider benefits
The Critical Illness Rider pays a lump sum when the insured is diagnosed with specified critical illnesses.Final Answer:
Critical Illness Rider → Option DQuick Check:
Other riders do not provide lump sum on critical illness diagnosis.
Quick Trick: Critical Illness Rider = Lump sum on critical disease diagnosis.
Common Mistakes:
MISTAKES- Confusing Critical Illness Rider with Accidental Death Benefit or Waiver of Premium Rider.
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