Kathmandu
MetLife Nepal has launched a new insurance rider, Critical Illness Plus, aimed at providing financial protection to policyholders diagnosed with major critical illnesses.
The rider can be added to eligible individual life insurance policies and offers a lump-sum payout upon diagnosis of 11 specified critical illnesses, including cancer, stroke, kidney failure, liver diseases, cardiovascular diseases and major organ transplants.
According to the company, the benefit is paid immediately after a confirmed diagnosis in accordance with policy terms, allowing customers to meet medical expenses and other financial obligations during treatment and recovery.
Unlike reimbursement-based health insurance plans, the payout under Critical Illness Plus can be used at the policyholder’s discretion, including for advanced medical procedures, treatment abroad, household expenses, income replacement or long-term care needs.
MetLife Nepal said the rider has been designed as an affordable add-on rather than a standalone policy, making critical illness coverage more accessible to customers.
Speaking at the launch, Nirmal Kajee Shrestha said a critical illness can have both medical and financial consequences, and the new rider aims to reduce the financial burden on affected individuals.
The company has also expanded its Group Critical Illness Rider, increasing coverage options to 14 or 20 critical illnesses for employees and their families.
