LIC of India launched on Thursday 'critical illness rider,' a new product under group insurance scheme, targeting primarily at employer-employee group.
The rider could be attached to any of the existing group insurance polices under employer-employee groups -- group insurance, employees deposit link insurance, group gratuity and group leave encashment scheme -- on their scheme renewal date, LIC of India Chairman T S Vijayan told reporters at the launch function in Chennai.
He said the rider had been developed to cover eight major critical illness most relevant to India -- cancer, coronary artery surgery, heart attack, stroke, kidney failure, aorta, heart valve replacement and major burns.
A striking feature of