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    What Are the Benefits of Critical Illness in Your Term Plan?

    Last Updated On 04-03-2022

    A term insurance plan will help you secure the financial future of your loved ones. Moreover, it will help you to shield your loved ones from all sorts of uncertainties in life. When we talk about uncertainties, it may vary from critical ailments, loss of income, untimely death of the sole breadwinner, and so on.

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    Simply put, if you buy term insurance for your family, you will provide them with a financial buffer in case of such similar unanticipated events. But did you know that not all term insurance plan comes with a critical illness cover? Hence, it would help if you chose a term plan to go for critical illness coverage by paying an extra premium, thereby securing your family and yourself in a much better way.

    Here, we’ll talk about some of the key benefits of opting for life insurance with critical illness cover. But first, let’s dive a little deeper into the concept of a critical illness cover or rider.

    What is a Critical Illness Cover with a Term Plan?
    A critical illness cover is a kind of rider plan you can opt for along with your chosen term plan online. This rider will provide you and your family with extra financial assistance during any medical emergency in the future. A critical illness may come anytime, unannounced. Hence, having this rider along with your term plan will help in such dire conditions. 

    Why Choosing a Critical Illness Cover is a Must?

    1. Assured Tax Benefits: When you opt for a critical illness rider along with your term insurance plan, you can avail of additional tax benefits. The insurer will cover your term plan under Section 80C or the Indian Income Tax Act, 1961. Also, the critical illness rider will have tax benefits under Section 80D of the same. Hence, you will get the benefit of saving taxes.

    2. Make Up for an Income Loss: Suppose the sole breadwinner of your family is diagnosed with a critical illness, prohibiting them from working and earning. In that case, the financial strain on the other members of the family could be intense.

      So, suppose the policyholder or the family provider has a critical illness cover along with the term plan. In that case, the critical illness rider could take care of the treatment expenses and the household expenses with ease. The critical illness cover, in such cases, will act as an income replacement.

    3. Covering for Medical Expenses: Healthcare costs in India are always on the rise. Any critical illness can lead to a family incurring huge medical bills. From the hospitalisation of the patient to undergo tests and operations, the expenses are endless. Hence, a critical illness cover with a term insurance plan can provide you with a lump sum amount at the time of need to cover all the medical bills.

    4. There is No Extra Premium to Be Paid: If you opt for a critical illness cover benefit and your term plan, the insurance premium you will pay will remain the same during the whole period. Therefore, even if you are diagnosed with a critical illness during the policy tenure, your premium will not increase, as it will already be factored in at the time of your premium calculation.

    5. Pay Attention to Recovery: When you do not have to worry about your medical expenses or your loss of income during a critical stage in life, you can focus and pay more attention to your recovery or to the recovery of your loved one who is suffering. As you will have financial support from the critical illness rider, you can work towards getting physically stronger without worrying about the monetary liabilities looming above your head.

      You will not have to worry about taking a loan or going into debt by borrowing money from friends and relatives. In a nutshell, such a rider plan along with your term plan will keep you off from financial burdens whatsoever.

    How Does a Critical Illness Cover Work?
    Now that you know about the critical illness cover with term insurance benefits, you should know how this cover will work for you. Basically, under this cover plan, you’ll receive a lump-sum amount for the diagnosis and treatment of any critical illness. However, the illness might be detected before you buy the plan or during the policy tenure, and hence, it’s important to check the coverage properly before choosing the rider. Also, you can get the benefits of having the hospitalisation and non-hospitalisation expenses covered. 

    Things to Consider While Buying a Critical Illness Cover

    Here are a few things that you should consider while opting for a critical illness rider along with your term insurance plan:

    • The sum assured will be payable in case of the demise or permanent disability of the insured.
    • The benefit amount payable in case of the critical illness riders will be equivalent to the cover amount that you choose.
    • It would help if you only bought your critical illness rider from an insurer who will provide you with maximum coverage. 
    •  The benefit amount payable will be equivalent to the critical illness cover that you will choose. 
    • Your insurer can settle the claim within the regulatory timeline after receiving all the necessary documents. 
    • You can pay the premiums on time and avail the policy online by filling up a simple application form along with a medical declaration form.
    • Even though the application process for a critical illness cover is transparent, it is vital for you to understand the various aspects related to the cover, its inclusions, any additional costs, etc., to be on the safe side while paying the premiums.

    Wrapping it Up

    You must consider a critical illness cover along with your term plan online as it will help you face difficult times boldly, without having you give up on quality medical treatment for yourself or a family member due to a shortage of funds. However, always make an informed choice and carry out diligent research online before choosing a plan. To know more about term insurance, life insurance and long term savings visit PNB MetLife website.


    The aforesaid article presents the view of an independent writer who is an expert on financial and insurance matters. PNB MetLife India Insurance Co. Ltd. doesn’t influence or support views of the writer of the article in any way. The article is informative in nature and PNB MetLife and/ or the writer of the article shall not be responsible for any direct/ indirect loss or liability or medical complications incurred by the reader for taking any decisions based on the contents and information given in article. Please consult your financial advisor/ insurance advisor/ health advisor before making any decision.

    PNB MetLife India Insurance Company Limited
    Registered office address: Unit No. 701, 702 & 703, 7th Floor, West Wing, Raheja Towers, 26/27 M G Road, Bangalore -560001, Karnataka
    IRDAI Registration number 117 | CIN U66010KA2001PLC028883
    For more details on risk factors, please read the sales brochure and the terms and conditions of the policy, carefully before concluding the sale.
    Tax benefits are as per the Income Tax Act, 1961, & are subject to amendments made thereto from time to time. Please consult your tax consultant for more details.
    Goods and Services Tax (GST) shall be levied as per prevailing tax laws which are subject to change from time to time.
    The marks "PNB" and "MetLife" are registered trademarks of Punjab National Bank and Metropolitan Life Insurance Company, respectively. PNB MetLife India Insurance Company Limited is a licensed user of these marks.
    Call us Toll-free at 1-800-425-6969, Phone: 080-66006969, Website:, Email: or Write to us: 1st Floor, Techniplex -1, Techniplex Complex, Off Veer Savarkar Flyover, Goregaon (West), Mumbai – 400062, Maharashtra. Phone: +91-22-41790000, Fax: +91-22-41790203.
    Beware of Spurious Phone Calls and Fictitious / Fraudulent Offers!
    IRDAI is not involved in activities like selling insurance policies, announcing bonus or investments of premium. Public receiving such phone calls are requested to lodge a police complaint.




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    As your trusted life insurance partner, PNB MetLife is with you amidst the current COVID-19 outbreak. Our policies also cover COVID-19 Claims. In case of a Death Claim, kindly submit the signed Claim Intimation Letter mentioning the policy number, brief of the insured event and other claim documents on the email mentioned herewith. Please write-in to us at or You can also call us on 1800-425-6969 for death claims intimations and for any queries on Monday - Saturday between 10:00 am - 7:00 pm.

    PNB MetLife Insurance, amongst the trusted Life Insurance companies in India, aims to provide a wide range of Life Insurance products that suits the needs of an individual at every stage of his life. Life Insurance Plans range from Term Life Insurance PlansTerm PlanProtection PlansLong Term Savings Plans , Retirement Plans & Child Education Plan.

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