I am 57 years old. The insurance company has refused me the critical illness benefit rider, citing that I am too old to take it. Can the company refuse on such grounds?

Suveen Goswami, Lucknow

Insurance is a contract between the two parties known as the insurer and the insured. Like any other con- tract, both the parties has the option of not entering the contract. Once a proposal is submitted to the insurers, they have an option to accept, or not accept it. Their underwriters normally decide this. So, the insurers can refuse to give additional cover in terms of a rider. Generally, critical illness rider (CII) is provided only up to the age of 50 years, and hence you do not fall under the age group where the policy will be offered in the first place.

olmdesk@outlookindia.com