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Buying A Critical Illness Policy And Term Policy Separately Vs Buying Them Together

  9/27/16 4:06 AM

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In a term plan, you pay a particular premium in exchange for which the insurer guarantees your family the full Sum Assured in the event of your untimely demise. A critical illness plan, in exchange for premiums paid, gives you the full Sum Assured in the event of occurrence of a critical illness. A comprehensive term plan does both. You are covered with a Base Sum Assured and also a critical illness benefit. If you avail of the critical illness cover in the event of a pre-listed critical illness, the policy will continue with the Death benefit reduced by the extent of the Critical Illness Sum Assured paid.

An example

Wilson is a brand manager in a pharmaceutical company and is 35 years old. Wilson and his wife Rena have a three-year-old son Ryan. His father Anthony is retired. Wilson 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 Wilson is diagnosed with one of the predefined critical Illnesses. Rs. 10 lacs is paid as a lump sum and the policy continues with the reduced Sum Assured of Rs. 90 lacs. With this amount, Wilson 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, Wilson 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, Wilson was able to give himself along with his family total financial security.

Benefits of buying both the plans together

Single-Time Medicals

If you buy a term plan and a critical illness plan separately, you would have to go for separate medicals. If you apply for a comprehensive protection plan like Edelweiss Tokio Life Total Secure+, you can get the policy issued by doing a single set of medicals.

Single-Time Issuance

One policy to cover both term life as well as critical illness care. No need of maintaining separate policy documents.

No Need For Separate Maintenance

A single premium payment would suffice for the policy. A single premium would cover you for both critical illness and life risk. Simple level of maintenance to cover both of your needs.


Edelweiss Tokio Life Total Secure+

Edelweiss Tokio Life Total Secure+ 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 for the first time in life insurance gives you the option of combining term plan with either of two critical illness covers. One critical illness plan covers 7 while the other one, for a little extra premium, gives you protection against 35 critical illness. All of this with multiple payout options for the death benefit Sum Assured in the form of lumpsum, monthly payouts and combination of the two. Even when you choose monthly payouts, you have the option of equal monthly sums or increasing monthly payouts.

Being an online product, this product is not only cheaper but also convenient to purchase. Generate a quote today and find out how you can stay protected from both death and critical illness.


* Premium for non-tobacco consumer healthy male.

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