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Don’t Leave Your Family’s Financial Independence To Chance

  8/8/23 7:03 AM

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Don’t Leave Your Family’s Financial Independence to Chance

In the past times, families were larger, often with brothers and their families living together in one house. Relatives lived nearby, and neighbours were more like extended family than just acquaintances. In such a scenario, tiding over a medical or financial crisis was relatively easy as the entire society consisting of friends, relatives, well-wishers etc would chip in and help the one affected.

Nowadays, nuclear families are more common, resulting in smaller family units. Each family becomes somewhat isolated, as neighbours are unfamiliar, and friends are preoccupied with their own lives. Relatives might be living far away in distant towns. If a medical or financial crisis were to arise today, it could be more challenging for the family to handle on their own.

 

A Crisis

Ironically, in earlier times, you relied on relatives for assistance, yet this reliance still maintained a sense of autonomy, as you could repay the borrowed money on your own terms. However, imagine facing an unexpected death or a sudden critical illness – how would you or your family manage the finances? You might tap into your savings, seek short-term loans from local moneylenders, or even pawn valuable assets like gold. This would erode your financial self-sufficiency and that of your family.

If you were to pass away, your spouse would be left grappling with not only your loss but also the challenge of making ends meet. The grieving process might be compromised due to immediate financial worries.

 

What is the Solution?

A comprehensive term plan like Edelweiss Tokio Life Zindagi Protect! It provides you with a term cover up to age. You can also enjoy optional features such as Return of Premium, Better Half Benefit, Child's Future Protect Benefit, and Premium Break Benefit, making it the ideal choice for families seeking financial security.

A term cover is one, where in the event of your untimely demise, your family gets paid a fixed amount whether in lump sum or as a regular monthly payout in equal or increasing amounts. A critical illness cover is one where in case a critical illness out of the pre-listed illnesses occurs, you would get a lump sum amount to use in any manner you wish. You don’t require to be hospitalised for availing of that sum.

So, if you have this plan in place, you need not move around trying to pawn your jewellery and generate the funds required. Generate a quote today to find out how Edelweiss Tokio Life Zindagi Protect can help you tide over the tough times in your and your family’s life with their heads held high.

 

Aastha Mestry - Portfolio Manager      
An Author and a Full-Time Portfolio Manager, Aastha has 6 years of experience working in the Insurance Industry with businesses globally. With a profound interest in traveling, Aastha also loves to blog in her free time.

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