2 NOV 2016
Not just a term plan
In today's day and age of the internet, it can be safely assumed that you are alive if you are on the internet; in other words, present on the social media. If you are alive(according to the above definition!), you are bound to know what a term plan is. But not many of you out there would happen to know what a comprehensive term plan is. A comprehensive term plan is more than just a term plan.
A term plan
A term plan, as you may be aware, covers the financial risk of the untimely demise of the breadwinner. In other words, it provides a fixed Sum Assured to the family of the policyholder in the event of his untimely demise.
A comprehensive term plan
A comprehensive term plan like Edelweiss Tokio Life – Total Secure+, protects the policy holder against the financial burden of falling critically ill along with the normal benefits of a term plan for his family. So, in effect, it is a term plan with added benefits of a critical illness plan.
What is a critical illness plan?
A critical illness plan protects you against having to dip into your savings in dealing with a critical illness. On diagnosis of a critical illness like kidney damage, blindness, paralysis of limbs etc, you can claim a Sum Assured with which you can meet your hospital expenses, children's education cost, loan EMI's and absolutely any other expense that you may wish to meet. This plan does not require you to be hospitalized for claiming the amount. Just on the basis of diagnosis of the pre-listed critical illness, you can claim the amount.
How comprehensive term does plans help?
Comprehensive term plans combine the benefits of a term plan and a critical illness plan. So, for instance, let's assume that your Sum Assured is Rs.60 lakhs and your critical illness component is Rs 10 lakhs. If during the policy term, you fall ill with any of the critical illnesses, you would be paid the amount of Rs.10 lakhs. The policy, after this, will continue for a Sum Assured of Rs.50 lakhs and anytime during the policy period, if you meet with an untimely demise, your family would be paid the Sum Assured. If however, you meet with an untimely demise without requiring for claiming the critical illness component; your family would be made a payment of Rs. 60 lakhs.
Edelweiss Tokio Life – Total Secure+ is one of the most feature-rich comprehensive term plans in the market. Generate a quote today to find out how it is a term plan, with benefits more than that of a simple term plan.
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