Q: Why do I have to buy Multiple CI Rider?
A: Multiple CI Rider covers 35 critical illnesses at 100% of sum insured. Moreover, if you have received the 1st coverage benefit (claim), you are no longer required to pay premium of this rider, but this rider still continues to be effective and covers the remaining critical illnesses groups. Details are as follows:
- You still have coverage for diseases under other critical illnesses groups.
- Benefits shall be paid up to 4 occasions, and must not exceed 4 times the sum insured amount. Maximum benefit payment for each critical illnesses group is 1 time the sum insured amount.
- Coverage is provided for 10 more years for critical illnesses groups that coverage benefit (claim) has not been paid after the 1st coverage benefit (claim) payment.
Q: Will I immediately receive the coverage after buying Multiple CI Rider?
A: In general, critical illness insurance has waiting period as to prevent insurance applicants who have severe illness. Thus, there is the insurance condition that the coverage is provided 90 days after contract formation.
Q: How long is the coverage of Multiple CI Rider?
A: Entry age of Multiple CI Rider is 7 years old – 65 years old (able to renew until the age of 79) and the coverage is provided until the age of 80.
Q: Does premium of Multiple CI Rider increase based on increasing age range?
A: Premium of Multiple CI Rider increases based on increasing age range of the insured
Q: Is premium of Multiple CI Rider eligible for tax deduction?
A: Premium of Multiple CI Rider is eligible for personal income tax deduction according to the Notification of the Director- General of the Revenue Department.
Q: Does Multiple CI Rider need to be purchased to attach to a life insurance policy (base contract)?
A: Multiple CI Rider is a rider that needs to be purchased to attach to a life insurance policy (base contract).