Insurance Awareness - Life Insurance - LIC
Which of the following riders is commonly available with term insurance policies to enhance coverage?
Which of the following riders is commonly available with term insurance policies to enhance coverage?
medium Q8 of 15
Step-by-Step Solution
Step 1: Understand riders in term insurance
Critical Illness Rider provides additional payout on diagnosis of specified illnesses, commonly attached to term policies.Step 2: Analyze options
"Maturity Benefit Rider", "Cash Value Rider", and "Savings Rider" are incorrect as term insurance does not have maturity, cash value, or savings components.Final Answer:
Critical Illness Rider → Option AQuick Check:
Critical Illness Rider is a popular add-on to term insurance, confirming Critical Illness Rider.
Quick Trick: Critical Illness Rider adds extra protection.
Common Mistakes:
MISTAKES- Confusing term insurance with endowment or ULIP riders.
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