Insurance Awareness - Life Insurance - LIC
The Critical Illness Rider in a life insurance policy pays benefits when:
The Critical Illness Rider in a life insurance policy pays benefits when:
easy Q3 of 15
Step-by-Step Solution
Step 1: Understand the rider's purpose
The Critical Illness Rider pays a lump sum upon diagnosis of specified critical illnesses listed in the policy.Step 2: Eliminate other options
Accidental death relates to accidental death rider, permanent disability to disability rider, and hospitalization allowance to hospital cash rider.Final Answer:
The policyholder is diagnosed with specified critical illnesses → Option DQuick Check:
This rider is specifically designed for critical illness diagnosis benefits.
Quick Trick: Critical Illness Rider = lump sum on critical disease diagnosis.
Common Mistakes:
MISTAKES- Confusing critical illness rider with accidental death or disability riders.
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