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
C. 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(By Examveda Team)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.
A. Section 38
B. Section 39
C. Section 44
D. Section 45
A. Community rating
B. Adverse selection
C. Abuse of health insurance
D. Risk pooling
D. Free look period