Does ICICI Term Insurance have any add on covers and are they actually needed?

  1. Life term insurance gives the lumpsum money to the dependent in the case of loss of life of the income earner. The death can be because of cancer as well.
  1. It doesn't pay anything if there is a detection of cancer or illness. However, if two doctors certify that it is a terminal illness and the insured person is going to die in six months then the insurance company pays the sum assured.
  2. It doesn't pay anything if there is disability due to accident. However, it waives off the future premium payment requirement with the continuation of the life cover.
  3. It is better to take accident cover or cancer cover separately rather than mixing it up with the life term insurance. In general, the independent policy for disability or cancer are more comprehensive than as the riders on a main policy.

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