I am confused between a critical illness rider and a standalone similar policy. How should I decide?
Harikumar Reddy, Vizag
Such a dilemma can be faced by anyone at the time of making a selection given the similarity in the product benefits. Make a start by comparing the quality of risk cover and the premium outgo of the rider and that for a similar standalone policy. In case of a critical illness rider – you should look at the number of critical illness diseases covered, the number of years for which pre-existing diseases are excluded, and the price per unit of sum assured. It is advised that you go in for a standalone policy instead of a rider because unlike a rider in a life policy, which has limitations on the quantum of cover, standalone policies can be taken for as much cover that you deem fit and the flexibility with these policies make them more suitable than a rider.
