There’s a common misconception that term insurance provides financial support only after you’re gone. But that’s not the whole story.
While term insurance provides your family with financial security in case of an unfortunate event. Adding critical illness riders ensures protection during your lifetime.
Here are the 3 key benefits a Critical Illness Rider provides.
1. Financial security
In the event of a major health complication, the lump sum payout gives your family a financial safety net. It not only covers medical expenses related to the illness but also lets you focus on what matters most– your recovery.
2. Managing medical treatments & related costs
With rising medical expenses, critical illness riders provide sufficient coverage, ensuring you receive top-quality medical care. This includes treatments, surgeries, therapies, and associated costs.
3. Uninterrupted income during illness & recovery
A critical illness diagnosis may disrupt your work and income. However, the lump sum payout from the rider can replace your lost income, so you don’t have to worry about supporting your family and can fully focus on recovery.
That said, this add-on can be costly in some cases, so it should be carefully considered. For guidance on which term insurance plans and add-ons suit you best, talk to Ditto’s advisors