7 NOV 2016
Tough times won't last long
How does vaccinating our infants and children protect them from diseases? The vaccines immunize them and make them stronger internally, thus preventing them from contracting and subsequently suffering from any disease. How we adults wish that there could be a vaccine that could prevent any financial infection from hurting us! Although there is no vaccine as such that can do this, but life insurance has an immunization program that can at least help you to triumph against any financial hardship.
Financial hardships can be caused by the following:
1.Untimely demise of breadwinner
Your family would be plunged into turmoil and despair when the strongest pillar of their home; their breadwinner-you; leave them in unfortunate and untimely circumstances. There is nothing crueller for your family than having their leader being taken away by fate. In the midst of their bereavement, if they have to face financial hardships, it would be all the more despairing for them. If your spouse has to start looking for an occupation immediately, it would be a dire situation for her. Trying to arrange for paying the children's school fees, your home loan EMI’s and your utility bills etc would put her under tremendous stress. Wouldn't it be very helpful for your family if there was a financial back-up that they could lean on when they are bereft of your support?
Again, the same situation arises when you are unable to work because of a critical illness. The critical illness does not allow you to engage yourself in a gainful occupation, thus resulting in loss of income. This loss of income would result in financial hardship as you have to fend for your family even though you are unable to earn income. The expenses that are referred to in the above paragraph would still need to be taken care of
A Comprehensive Term Plan
A comprehensive term plan is what can help your family in times when they need financial support the most. Term life insurance is a pure form of insurance which only provides death benefit. When it is supported by a critical illness policy which is built in to the policy, it can be called as a comprehensive term plan. In other words, in the event of the life assured meeting with an untimely death any time during the term of the policy, the nominee will be paid the death benefit Sum Assured. And in the event of the life assured being diagnosed with a critical illness, he would get paid the critical illness Sum Assured. The nominee would need to submit the relevant documents along with the policy bond to make a claim in the event of the policyholder's passing away.
If you buy a comprehensive term plan like Edelweiss Tokio Life – Total Secure+, you can avail of life cover with the added benefit of critical illness cover to cover you against the financial burden of up to 35 critical illnesses. You also have the option of selecting the pay-out method as either lump sum, regular monthly income, or a combination of both for the death benefit. Even in the regular monthly income mode, you have the option of choosing between equal/level instalments or increasing monthly instalments. You can also choose between Single Pay, Limited Pay or Regular Pay when choosing the pure term plan. A low-cost term plan is the best and most inexpensive method to secure the future of your family.
Generate a quote today for Edelweiss Tokio Life – Total Secure+ that helps you to secure financial protection for your family at very reasonable rates. Take a right and proactive step today so that you have the financial support to deal with those tough times.
13 APR. 2018
Critical Illness vs Terminal Illness
Whether it is marketing over television, radio or billboards, or pop-ups over the internet, insurers are increasingly trying to contribute to financial your literacy and equipping you with information to make the right financial decisionsread more
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