Term insurance wth CI add on
21 Apr, 2023
by Andy
Is it advisable to get CI addon with Term insurance ? I have few questions regarding the same..
1 - Are premiums for term+CI cover locked till insurance maturity? I know term insurance premium is locked for life but CI addon premium too is locked for life or it increases as per age?
2 - If in future I decide to drop CI cover and want to continue with Term Insurance only , would it be possible?
I am considering CI with term insurance because ICICI pruduentials CI add on with term insurance seems slightly cheaper than the standalone Critical Illness cover.
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Hello Andy,
Yes, it is advisable for you to add CI rider with your term plan. Below are my responses -
We have a detailed Ebook written on the Critical Illness cover. I would suggest you go through the same. Here's the link for the same - https://www.beshak.org/health-insurance/e-book/best-strategies-to-buy-critical-illness-insurance-policy/
Thanks!