The insurer pays a lump sum if you’re diagnosed with one of the critical illnesses specified in the insurance policy, such as cancer, heart attack, stroke, kidney failure, and others. Instead of reimbursing you for medical expenses, the way health insurance does, the rider provides money to use for any purpose during the course of treatment.
Allow you to receive a portion of the death benefit in the critical diseases like heart attack, paralysis, stroke, blindness, massive cancer. Quality of life insurance can help you reduce the financial effects of invasive cancer, major heart attack, stroke and certain another qualifying critical illness or conditions.
Critical Illness Accelerated Rider Benefit
This rider allows the owner to accelerate some or all of the Insured Person’s base life insurance benefit in the event the Insured is diagnosed with a critical illness or condition.
A critical illness or condition is defined as one of the following:
- Heart attack
- Major Organ Transplant
- Invasive Cancer
- End Stage Renal Failure
- Amyotrophic Lateral Sclerosis (ALS or Lou Gehrig’s disease)
If a benefit is paid under the Critical Illness Accelerated Benefit Rider, the Company will not provide a later opportunity to elect an Accelerated Benefit under a Policy as to the same Critical Illness.