Is a critical illness rider important?
-
My Kotak Life e-Term Plan policy is presently in its 30-day freelook period, which is going to finish in 3 days. The policy covers me till I am 60, with a critical illness and accidental disability rides costing me ₹1150.
CI coverage is 15 lakhs, which includes 62 illnesses.
Some advised me to include the CI rider. However, the rider costs 65% of my regular premium and has many terms and conditions. Do I have to keep it? -
If you think the cost is 65% of your regular premium, which is expensive, then you might look at separate health insurance options for better value and flexibility. Perhaps you will discover more affordable and flexible alternatives.
Before making any decisions, consider the following factors:
- Are you prepared for this long-term commitment, given the higher premium?
- Just confirm whether you truly require this additional coverage.
-
Does purchasing separate health insurance offer greater value and flexibility compared to paying a higher price for this coverage?