Health benefit rider in Life insurance – can it substitute health insurance

Health insurance covers your hospitalisation needs while a life insurance product is for the financial security of your family in case of an untimely death. Besides, the riders such as critical illness policy are a benefit only policy, wherein on the happening of an event, the insurance company pays the policy holder a lump sum amount. Each of these policies satisfies a different need, so a life insurance policy with health insurance riders, does not eliminate the need for a health insurance policy.