HDFC Life Group Illness Rider

In these days of increasing stress, health is a major concern for all of us. As an employer, keeping your employees financially secured against major Critical Illnesses can be of huge mutual interest.

This rider has been designed to offer an enhanced financial protection for your employees in case they suffer from any Terminal Illness or the covered Critical Illnesses during the policy term.

This rider pays out the chosen percentage of the Rider Sum Assured on the diagnosis of the Critical Illness and/or Terminal Illness.

This can help tide over immediate medical expenses or maintain your life style in case regular income source is disturbed.

On start of this rider, you have to choose what percentage of the sum assured will be paid on diagnosis of the covered critical illnesses.

You pay premium for benefits for one year after which you can renew the plan.

The Company buying the policy (Master Policy Holder) can save income tax on the premium paid under the Income Tax Act, 1961.

All the members can be covered under one Master Policy. Underwriting guidelines are simplified and no medical required till certain life cover amounts

At any time during the policy term, in case an employee is diagnosed with any of the Covered critical illnesses, a lump sum amount equal to chosen percentage of sum assured subject to a maximum of ₹ 50 lacs is paid.

This amount can help in managing the medical expenses without affecting one’s savings. The cover for the base Plan continues for the balance Sum Assured.

This plan gives an option to get protected against only 4 or 10 critical illness as well.

With this option, in case of a terminal illness, an employee can choose to receive 50%/100% of sum assured subject to a maximum of ₹ 50 lacs is paid and balance to be paid after life assured demise.