FAQ - Critical Illness

Q.
What is a survival period under the Critical Illness Policy?
Ans

Survival Period is the length of time the insured must survive after he/she has been diagnosed with a covered Critical Illness. The duration or Length of the Survival period varies among different Insurance Companies. It can vary between 14days to 30 days. The insurance company would pay the benefit payout only after completion of the survival period. However, if the insured dies during the survival period, no benefits will be paid to the nominee. Here, Critical Illness benefits are meant to be used as a Living Benefit by the insured to recover the losses from the Illness and not a Death Benefit.