24 OCT 2016
A Comprehensive and A Flexible Protection Plan
Just imagine if Saina Nehwal would've been good only at forehand or if she would not have been as effective closer to the net as she is away from it. Would she have had the same success with these or any other chinks in her game? No, isn't it? Similarly, when we talk about life insurance protection plans, should they be any different? Should they not be giving you total, comprehensive, and complete protection with flexibility?
Of Course, They Should
But sadly, most term plans in the market fall short when it comes to providing comprehensive protection. There are many plans, but most only cover one aspect of protection – coverage of death. Edelweiss Tokio Life – Total Secure+ is perhaps the only plan that can be called a comprehensive and flexible protection plan. This is because it gives your family financial protection against your untimely demise as well as covers you from the financial burden of a critical illness.
It gives you the benefits of both term life insurance and critical illness protection in one plan. Besides, it gives you the option of choosing between Basic health protection and comprehensive protection. A revolutionary product, which gives you the option of combining term plan with either of two critical illness covers.
Term Life Insurance with Critical Illness Protection
One critical illness plan covers 7 while the other one, for a little extra premium, gives you protection against 35 critical illnesses. All of this with multiple pay out options for the death benefit Sum Assured in the form of lump sum, monthly pay outs and combination of the two. Even when you choose monthly pay outs, you have the option of equal monthly sums or increasing monthly pay outs, where the pay out increases at the rate of 5% p.a for a tenure of 36, 60, 120 & 180 months , depending on your convenience.
Rajiv is a brand manager in an FMCG company and is 35 years old. Rajiv and his wife Reena have a three year old son Aryan. His father Kishore is retired. Rajiv wants to be well prepared for all unforeseen circumstances in life. For this, he chooses a comprehensive term plan with Base Sum Assured of Rs. 1 crore and critical illness sum assured of Rs.10 lacs for a cover till 75 years of age. Let’s suppose he pays an annual premium* of Rs. 19,656 (combined premium including taxes and cess).
A few years later Rajiv is diagnosed with one of the predefined critical Illnesses. Rs. 10 lacs is paid as a lump sum and the policy continues with reduced Sum Assured of Rs. 90 lacs. With this amount, Rajiv keeps on making payments on his utility bills, children's school fees, father's medicines etc.
The subsequent premiums are proportionately reduced to Rs. 11,130. After fighting with the illness for 2 years, Rajiv unfortunately passes away. On his death, his family gets a lump sum death benefit of Rs. 90 lacs and the Policy terminates.
Thus, for approximately Rs.8500/- more per annum, Rajiv was able to give himself along with his family total financial security.
Generate a quote today and find out how it would help you in securing yourself and your family's future. Get to know how it is a comprehensive term plan that gives you TOTAL SECURITY + PROTECTION+ FLEXIBILITY.
* Premium for non-tobacco consumer healthy male.
22 JAN. 2018
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