InsuranceSecuritization of insurance risk Replacement cost Post-loss activities Medical payments insurance Hull insurance Severity
Critical Illness Rider
Life insurance policies offer a critical illness rider as a safeguard against unexpected financial burdens caused by a terminal illness. This rider provides the insured with living benefits in the form of a lump sum payment to cover medical expenses prior to death. Typically, the additional coverage is equivalent to the sum assured of the base policy and is paid out upon diagnosis of the critical illness. The specific illnesses covered and premiums may vary among insurance companies, but commonly include cancer, heart attack, organ failure, and stroke.
Related terms
Understand the meaning and definition of Securitization of insurance risk in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Replacement cost in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Post-loss activities in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Medical payments insurance in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Hull insurance in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Severity in the context of stock market, trading, and investments.
MORE
Explore other categories
10 Cr+DOWNLOADS
Enjoy Zero Brokerage On Stock Investments
Get the link to download the App
