All about LIC’s New Critical Illness Benefit Rider

Good health is considered as one of the greatest assets of all. But naturally, there will be periods of illnesses and bad health in every ones life. We need not worry about it much unless we are affected by some serious illnesses or in insurance terms, Critical Illnesses.

We all know the medical expenses are sky rocketing these days. Treatment for major diseases or Critical Illnesses can become a financial burden to the person as well as the family.

Life Insurance Corporation of India has introduced LIC’s New Critical Illness Rider (CIR), which can be a great help in tiding over such difficult situations.

Another option available from LIC for getting medical insurance coverage for your family is through Jeevan Arogya Plan.

Read more about Jeevan Arogya .

Critical Illness Rider Coverage can be added at the time of starting the policy, as a rider, without affecting other benefits of the plan.

Currently CIR Coverage is allowed only for following plans.

Plans to which Critical Illness Rider (CIR) can be added.

1. LIC’s New Endowment Plan (Table No 814)
2. LIC’s New Jeevan Anand (Table 815)
3. LIC’s New Money back Plans (Table 820 and 821)
4. LIC’s Jeevan Pragathi
5. LIC’s Limited Payment Endowment Plan
6. LIC’s Jeevan Labh (Table 836)

Eligibility for taking LIC’s New Critical Illness Benefit Rider

• Minimum Age at Entry 18 years
• Maximum Age at Entry 65 years
• Min: CIR Sum Assured 1,00,000
• Max: CIR Sum Assured 25,00,000 or Base plan Sum Assured whichever is less.
• Term and Premium paying term as per base plan
• Cover Ceasing age 75

Benefits payable through LIC’s New Critical Illness Benefit Rider (CIR)

1. Cancer of Specified Severity

includes leukemia, lymphoma and sarcoma.
Excludes tumors carcinoma in situ, benign, pre-malignant, non melanoma skin carcinoma, prostate tumors unless having gleson score > 6, thyroid cancers classified as T1N0M0, lymphotic leukaemia < RAI 3,Non invasive bladder papillary cancer classified as T1N0MO, all tumors in presence of HIV

2. Open Chest CABG

Excludes: Angioplasty and/or other intra arterial procedures.

3. Myocardial Infraction (First heart attack of specific severity)

Excludes: Other coronary syndrome,angina pectoris, rise in cardio biomarkers or Troponin T.

4. Kidney failure with regular dialysis

Should be irreversible failure of both kidneys

5. Major organ/Bone marrow Transplant recipient

Includes Heart, lung, liver, kidney, pancreas which has irreversible end stage failure, Human bone marrow using haematopoietic stem cells.
Excludes: Other stem cell transplants.

6. Stroke resulting in permanent symptom

Excludes: Transient ischemic attacks, traumatic injury of the brain, vascual disease affecting only the eye or optic nerve or vestibular functions.

7. Permanent Paralysis of Limb

Loss of two limbs as a result of injury or disease or brain or spinal cord. Present for more than 3 months.

8. Multiple sclerosis with permanent symptom

Excludes: SLE & HIV

9. Aortic Surgery

Aorta means Thoracic and Abdominal Aorta
Excludes: Minimally invasive or intra arterial techniques.

10. Primary(idiopathic)Pulmonary Hypertension

Excludes: Pulmonary hypertension associated with lung disease, hypoventilation, thromboembolic disease, drugs and toxins diseases of left side of hear, congenital heart disease.

11. Alzheimers Disease / Dementia

Excludes: Non organic disease such as Neurosis, psychiartic illness, alcohol related brain damage.

12. Blindness

Loss of vision in both eyes due to accident or illness not correctable by aids or surgical procedure

13. Third degree burns

20% of body scarring needed.

14. Open Heart Replacement or repair of heart valve

15. Benign Brain Tumor

Excludes: Cysts, Granulomas, Malformation of arteris or veins of brain, Heamtomas, abscessess, pituitary tumors, tumors of skull bones, tumors of spinal cord.

Other Conditions

Waiting Period

90 days from DOC or Revival date. waiting period not applicable for accidents.

Survival Period

30 days from date of diagnosis. IF death occurs in these 30 days CIR will not be paid.

CIR does not cover following situations

Intentionally self inflicted injury, suicide attempt, Alcohol, Drug abuse, war , Criminal activity, Pre existing medical condition which are being treated within 4 years before Date Of Commencement  / revival, HIV & AIDS, Failure to seek medical advice, Radioactive contamination. etc.

Introduction of LIC’s New Critical Illness Rider is a great initiative from LIC of India to cover major illnesses. But, in order to get full health protection for your family it is advised to take a health protection plan like Jeevan Arogya also along with critical illness rider.

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