What Is Aegon Life Critical Illness Care Rider?

The Aegon Life CI Care Rider provides the policyholder with benefits to cover expenses regarding their critical illness. The frequency of critical illnesses as well as expenses due to them has risen in recent years. It might be dangerous to compromise with the treatment due to a lack of financial support, which is why it is important to have a cover like this.

The Aegon Life CI Care Rider is a critical illness rider that can be added to your base insurance plan. It provides several benefits besides the one provided by your insurance plan for critical illnesses and disabilities. Read on to find more on this Rider.

Benefits Provided by the Aegon Life Critical Illness Care Rider

The Aegon Life Critical Illness Care Rider offers two kinds of benefits- lump sum and waiver of benefit. Under these two types, there are again several options to cover various critical illnesses. All critical illnesses have to be proven according to proper regulations and with proper certification from a registered medical practitioner. Lack of correct evidence might lead to claim rejection at the hour of need. The base plan as well as this Aegon Life CI Care Rider must be in force for the benefits to be paid out.

• Lump Sum Benefits

The following are the categories of critical illness that can be covered by this benefit:

Options B1 to B5 provide benefits and cover for all conditions and contingencies relating to the illnesses mentioned above. You can choose one or a combination of them as per your needs. The Comprehensive Care Option provides cover for 36 kinds of critical illness. 

The Sum Assured under the Benefit purchased can be chosen by the policyholder. Throughout the policy term, the lump sum benefit can be paid out only once, on the first occurrence of the illness covered by the benefit. 

• Waiver of Premium Benefit 

This benefit can be purchased on its own or combined with other benefits available. Under this option (B7), all future applicable premiums of the base insurance policy, other benefit options under the Aegon Life CI Care Rider and other Riders that may be attached to the base insurance policy are paid off. This is done on the first occurrence of any of the 36 illnesses covered by the Aegon Life CI Care Rider.

Also read 

Types of Life Insurance Policies and Riders

What is Waiver of Premium Rider in Child Plans?

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.