Q931
When critical illness rider benefit is payable?
A.
When the life insured dies of a critical illness
B.
When the insured is diagnosed with critical illness
AnswerC.
When the life insured is diagnosed with a illness not covered under the policy
D.
When the life insured assigns his critical illness rider benefit also in favour of assignee
Answer: Option B
Solution
Answer: Option B
Solution:
A critical illness rider makes living benefits payable to the insured for medical expenses prior to death.Generally, the extra cover is equal to the sum assured on the base policy and is paid upon diagnosis of the illness.