Buy a Life Insurance Plan in a few clicks

Now you can buy life insurance plan online.

Kotak Guaranteed Fortune Builder

A plan that offers guaranteed income for your future goals. Know more

Kotak e-Term

Protect your family's financial future. Know more

Kotak Assured Savings Plan

A plan that offer guaranteed returns and financial protection for your family. Know more

Kotak Guaranteed Savings Plan

A plan that offers long term savings and life cover. Know more

Kotak e-Invest

Insurance and Investment in one plan. Know more

Kotak Lifetime Income Plan

Retirement years are the golden years of life. Know more


Get a Call

Enter your contact details below and we will get in touch with you at the earliest.

  • Select your Query

Thank you

Our representative will get in touch with you at the earliest.

Benefits of Term Insurance with Critical Illness Rider

A term insurance plan is an important insurance product in the industry.

  • Jul 09, 2019

A term insurance plan is an important insurance product in the industry. It offers a high sum assured at a low premium and provides financial security to your loved ones in your absence. Many people prefer a term insurance policy as compared to a traditional life insurance plan. Once you understand what term insurance is, you will be in a position to consider riders/add-on covers for your term plan. However, not many are aware of the benefits offered by an add-on cover to the term plan. If you buy add-ons for your policy, you will get an enhanced cover and your life becomes easier.

What are riders in insurance?

A rider is an additional benefit on your term insurance and it will come into play in case of a specific eventuality. It is over and above the basic term insurance cover. A rider is included in your term insurance plan or you have to opt for it. Based on your health and needs, you can choose term insurance with critical illness rider as a value-added insurance cover for critical illnesses. Riders are of different types and based on your plan, you can choose the one that works the best for you. While buying a term plan, availing of a critical illness rider is essential. Such a rider will provide for extra financial assistance in case of a medical emergency. An illness or an accident can come unannounced and this is when a critical illness rider helps. You need to understand how this rider works. When you have a rider for the policy, you will receive a lump sum on the diagnosis of a critical illness, which is specified in the policy. As per the terms and conditions of the policy, the detection of critical illness could terminate or continue and it is important to check the coverage very carefully before you decide on a rider. There are innovative critical illness riders, which include different diseases including lifestyle disease.

What are the Benefits of term insurance with critical illness rider?

Term insurance along with a critical illness rider has a host of benefits to offer. Some of these are listed below.

  • You can use this rider will act as a tool for income replacement
  • You can avail of the rider to take care of the medical expenses
  • You will get a double tax benefit
  • You can take additional coverage for major diseases like cancer, heart attack, paralysis, organ transplant, bypass surgery, kidney failure, and stroke

Things to keep in mind when buying a rider

Here are a few things you need to consider before you buy a critical illness rider.

  • The rider provides for tax benefit under Section 80C and 80D of the Income Tax Act
  • The sum assured amount chosen under the plan is payable in case of total permanent disability or demise of the insured
  • The benefit amount payable will be equal to the critical illness cover you have chosen
  • The benefit will be paid at the time of first diagnosis itself as there is no minimum survival period required
  • The premiums can be paid in installments

Consider your present health condition and financial requirement before you purchase a term plan. This will help you make a well-informed decision about choosing suitable riders.

Kotak e-Term

Download Brochure


  • Life Cover till 85 years for Life & Life Secure Option
  • 3 Payout Options
  • Special Rates for Women
  • Option to exit the policy with premium refund at the age of 60*
  • Special Rates for Non-Tobacco Users
  • Free Medical Check Up every 5th year**

Ref. No. KLI/22-23/E-BB/2435


- A Consumer Education Initiative series by Kotak Life

Similar Articles

Life Insurance vs Mutual Funds

Can a Term Plan be the Substitute for a Retirement Plan?

How Much Life Insurance Do You Need?

What is Underinsurance & The Dangers of Being Underinsured

जीवन बीमा पर ऋण

All about IRDAI

Who Is A Nominee In A Life Insurance Plan?

How Much Term Life Insurance Cover Do I Need?

Role of IRDAI in the Insurance Sector

When are Millennials required to take out a life insurance policy?

Choosing a Life Insurance Beneficiary

Know the many types of life insurance policies in India

Kotak Life Claim Settlement Ratio

Health Insurance VS Life Insurance

What is Human Life value and a Human Life Value Calculator?

How do life insurance payouts work?

Important Life Insurance Terms You Must Know

Choosing Between Short-Term & Long-Term Insurance Plans

Is It Advisable To Have Multiple Life Insurance Policies?

बीमा क्षेत्र में IRDAI की भूमिका

Different Types of Protection Plans

What is the process of reactivating lapsed life insurance policy?

Is It Time to Review Life Insurance Policy of Yours?

Staying Insured While Investing

Is it Possible to Reduce Life Insurance Premium without Affecting Sum Assured?

What Is the Procedure to choose a nomination in life insurance policy?

Loan Against Life Insurance Policy

In India, should NRIs purchase life insurance?

What is Insurance Coverage? Overview, Types, and Examples

Top 5 Common Life Insurance Myths and Facts

Guidelines for Linking Aadhar and PAN to Insurance Policies

Savings cum Protection Plans Secures Your Family from Unforeseen Events

Term Life Insurance vs Accidental Death Insurance

Why Term Insurance for Women is Important?

Why do most Indians choose the wrong way to buy life insurance?

Term Plan with Return of Premium (TROP)

Term Insurance Vs Life insurance: Small Details, Big Differences

Life Insurance with Money Back vs Without Money Back

Life Insurance Plans for Women

How to Use Different Types of Life Insurance for Retirement Planning?

What are the Benefits of Endowment Policy?

6 Different Types of Insurance Policies

How to Buy Life Insurance Policy Online?

Important Factors to Consider While Choosing the Right Term Period for Your Term Insurance Plan

Life Insurance for Overweight Applicants

Life Insurance for Millennials

Best Insurance Plans in India

How Do Term Insurance Plans Differ for Smokers?

5 Things to Keep in Mind While Buying Life Insurance Policy

भारत में सर्वश्रेष्ठ टर्म प्लान कैसे चुनें?

What Is Insurance Rider and It’s Benefits?

1 CR Term Insurance Plan: How to Pick the Best 1 CR Term Plan

Terminal Illness Benefit in Term Insurance

How Does Life Insurance Work?

Is Life Insurance For Millennials Really Needed?

Is it Possible to Make Changes in a Term Plan’s Specification Post Purchase?

FAQs on Life Insurance

Advantages of Digitizing the Insurance Claims Process

Factors to Check Before Buying Life Insurance in India

Benefits of Gifting Term Insurance to Your Spouse

Health Insurance VS Life Insurance

Beware of Phishing & Fraud Insurance Calls

Difference Between Money Back and Endowment Policy

Single Premium Term Insurance: Meaning & Tax Benefits

क्या जीवन बीमा एक निवेश है?

Types of Riders in Insurance Policy

Life Insurance for Overweight Applicants

Can I Transfer My Term Life Insurance Policy to another Company?

Do Your Financial Planning with Life Insurance!

What Is The Life Insurance Penetration In India And How Does It Compare Globally?

Process of Filing A Claim For Life Insurance

9 Most Important Things You Must Learn About Paying Life Insurance Premium

Want to surrender your life insurance policy? Here's a guide

What is KYC - Meaning, Types, and Importance

All about Your Rights and Duties While Buying Life Insurance Policy

Ensure Protection Against Death, Disease & Disability With Life Insurance

Life Insurance and Millennials

6 Things You Didn't Know Life Insurance Could Do

Life Insurance and Retirement Planning

What Is Investment Insurance?

Insurance vs Investment - Know the Difference

Invest in Insurance to Secure Your Future

Life Insurance Nominees: 5 Must-Know Facts for Beneficiaries

Does Life Insurance Policy Cover Covid Death?

Insurance and Endowment: Everything You Need to Know!

Different Types Of Life Insurance In India

Do Life Insurance Premiums Increase Every Year?

All About Life Insurance and How It Works?

Different Kind of Deaths that are Not Covered in a Term Insurance Plan

Choosing Riders for Insurance Plans

What is Surrender Value in Insurance, and How is it Calculated?

All You Need to Know About Life Insurance - Its Benefits, Features, and Types of Life Insurance

7 Superficial Reasons People Avoid Buying Insurance Online

Details Required To Be Filled In A Life Insurance Form

What is Human Life Value (HLV) & How to Calculate it?

Important Terminologies of Life Insurance

5 Reasons Why a Women Should Buy a Life Insurance

Nominee in insurance - A Complete Guide on nomination in insurance

Think About Life Insurance Sooner than Later

What happens to joint life insurance after divorce?

Everything You Need to Know About Endowment Policy

Role of Life Insurance in Your Financial Portfolio

What is Insurance Premium? | Definition of Insurance Premium

भारत में जीवन बीमा पॉलिसियों के प्रकार

Why You Should Never Cancel Life Insurance Policy

NRI Premium Payment Options

Backdating in Life Insurance: Should You Avoid it?

जीवन बीमा क्या है?

What Should One Expect During the Medical Evaluation for Life Insurance?

5 Easy Steps to Buying A Policy

Customer Awareness on Information Security

What is Life Insurance?

Life Insurance Beneficiary

Is Life Insurance Worth It?

How to Select a Perfect Life Insurance Policy in India to Protect Your Future?

Sabse Pehle Life Insurance

How Much Life Insurance Should You Have?

Adding a Child to Your Life Insurance Policy?

Compare Different Life Insurance Products Offered By Kotak Life

Benefits of Term Insurance for Senior Citizens in India

Whole Life Insurance Definition: How It Works, With Examples

Does Family History Affects your Term Life Insurance Rates?

What Should One Consider Buying: Term Insurance or Traditional Life Insurance

Life Insurance Vs. Mutual Funds Investment

How to Make Death Claims on Life Insurance?

Here's How to Choose The Tight Life Insurance

Why Porting Health & Life Insurance after Marriage is Important?

Why is Medical Test Important While Buying a Term Insurance?

5 Common Life Insurance FAQs and Answers

Why Your Family Should Know About Your Life Insurance Policy?

All about Life Insurance Calculators

Why Do Life Insurance Agents Avoid Selling Term Plans?

How to Choose a Life Insurance Policy

What Happens If You Stop Paying Premiums of Life Insurance?

Life Insurance vs. Death Insurance: Exploring the Key Distinction

Do College Students Need to Buy a Life Insurance?

Different Types of Insurance Policies in India

Comparing low premium term insurance Is Not the Only Factor While Buying Life Insurance

Why Life Insurance is Always a Smart Decision?

Key Things to Review in Your Life Insurance Policy Document

What are robo-advisors in insurance?

Should You Buy Life Insurance After Getting Married?

Voluntary Life Insurance vs. Basic Life Insurance

Importance of Checking Claim Settlement Ratio before Buying Life Insurance

Always keep your Nominee informed

How to Choose Life Insurance for All Ages?

Know the many types of life insurance policies in India

What is the Difference Between Limited and Regular Pay Insurance Plan?

Can You Apply For A Life Insurance After Getting Heart Attack? Here is Everything You Need To Know

How to Choose the Right Term Plan as per Your Age

What Is the Difference Between Group Term and Voluntary Term Life Insurance?

What is Minimum Life Insurance Policy?

What is Group Insurance?

Does Life Insurance Pay for Suicidal Death?

Digital Life Certificate for Pensioners Seeking Pension

How often should I review my policy?

Difference Between Insurance and Assurance?

भारत में गृहणियों के लिए टर्म इंश्योरेंस

6 Ways You Can Ensure Fast & Smooth Claim Settlement

What is the Difference Between Insurance and Reinsurance?

How Many Insurances Should I Have?

Most Common Life Insurance Riders to Enhance Your Existing Policy

Why do I Need Life Insurance?

How to Customize Your Life Insurance Policy with Riders

Biggest Life Insurance Myths