Choose Life Insurance to Secure Your Zindagi in 21 Ways
Can you measure your life’s value on a weighing scale? Or with a stopwatch? You can’t, right? That’s why, the concept of life insurance offers to gauge the worth of your own life and put a monetary airbag before it.
In other words, life insurance helps you calculate your Human Life Value (HLV). As per definition, HLV is the present value of all future income that you could expect to earn for your family until retirement. It is a number that tells you the present value of future income expenses, liabilities and investments. It is usually calculated to understand how much money you would require to secure the lives of your dependents with a term life insurance.
No two individuals are alike. Hence, we present life insurance products of customizable features to help you cater to your unique financial needs.
21 Reasons to Buy Life Insurance
Here are 21 ways in which life insurance can benefit you:
- Peace of Mind
With financial planning, you can rest assured about fulfilling your short-term and long-term goals. Life insurance offers life cover plus savings, so it’s a wise option to choose to secure your future.
Follow our five (5) essential financial planning tips and find your way to inner peace.
- Your Better Half
Being a special part of your life, your spouse deserves financial stability. This is possible with a term insurance plan.
Edelweiss Tokio Life – Zindagi Plus offers Better Half Benefit. It allows you to include your spouse in the plan, thereby providing an additional life cover. As a result, both of you can stay protected against the uncertainties of life.
- Your Li’l Boss
For the same reason that you’d protect your spouse, you leave no stones unturned for your junior. Our ULIP Edelweiss Tokio Life – Wealth Plus offers the Rising Star Benefit. It allows you to transfer all the plan benefits to your child in case of an unfortunate situation. In addition to this, all future premiums waive off.
Your parents have given you their best support to cater to all your needs. They deserve a stress-free retired life. Term life insurance helps you do just that!
You can financially secure your dependent family members, in case your life takes a different turn and things don’t end up as planned.
The life insurance premiums you pay are eligible for tax benefits under section 80(C). In addition to this, pay-out received is eligible for benefits under section 10(10D). Therefore, investing in a life insurance plan has dual benefits of Protection + Tax Saving.
Savings plans like Edelweiss Tokio Life – Active Income Plan and Edelweiss Tokio Life – Income Builder support you with a regular income. They come handy especially in unprecedented times like the COVID-19 pandemic, where so many employees lost their jobs or suffered from pay-cut!
You can secure your post-retirement life with a savings and life insurance plan. For instance, by opting for our ranked no. 1 ULIP by CRISIL, you can avail the Systematic Withdrawal Plan (SWP) benefit. You will be able to withdraw a fixed percentage from your fund value at regular intervals till the end of the plan.
Riders are additional benefits that you can add to your life insurance policy. They’re blessings in disguise post uneventful situations, such as accident, disability, critical illness diagnosis, etc. Know all about our attractive rider offerings here.
ULIPs are one of the ways to accumulate wealth systematically. Whether it is for retirement, children’s education or for other financial goals, a ULIP continued till maturity, works as an advantage. Check out our savings plan with fund additions.
- Surplus Investment
Most life insurance plans offer a benefit option called Top-up Premium. It helps you increase your premium amount. As a result of this, you can avail top up sum assured! This feature can be used anytime you have surplus funds and you want to use them right.
You can now opt for a loan facility through life insurance plan. A policy loan enables you to meet your immediate financial needs, especially in case of an emergency. For instance, Edelweiss Tokio Life – GCAP offers policy loan once the policy acquires surrender value.
- Business Continuity
Group life insurance plans offer financial protection to organizations for their business sustenance. For instance, Edelweiss Tokio Life – Group Credit Protection, which protects loan lending institutions to protect their assets in case of any challenges.
- Employee Benefits
Group life insurance is also a means in which companies provide for the welfare of their employees. To help employees avail benefits like Leave Encashment & Gratuity, plans like Edelweiss Tokio Life – Group Employee Benefit Plus help both the employer and employee to meet these goals.
Life insurance plans enable you to financially protect yourself from critical illnesses. Most plans allow a rider to cater to this need.
Recently, Edelweiss Tokio Life launched its innovative COVID-19 insurance product, called COVID Shield+. This plan offers pay-out on ICU/HDU admission if diagnosed with COVID-19 and an additional life cover. You may check out the plan details here – Edelweiss Tokio Life – COVID Shield+
- Novel Features
Choosing a term plan doesn’t have to be complicated, yet it can present new and interesting features. With Edelweiss Tokio Life Simply Protect, you can choose from 4 life cover variants instead of just 1.
The plan offers Life Cover, Life Cover with inbuilt Accidental Death Benefit, Life Cover with inbuilt Waiver of Future Premiums payable on Accidental Total and Permanent Disability and Life Cover with inbuilt Waiver of Future Premiums payable on Critical Illness.
You may have gifted your loved ones clothes, gadgets, jewelry, etc. But, how about gifting a promise that secures them forever?
With a term life plan, you can ensure their financial security even when you’re not around. Plus with a savings plan, you can fulfil their wishes with an additional source of income.
Most ULIPs these days offer “partial withdrawals”. This essentially takes care of immediate cash requirements. As a result of this benefit, you can liquidate some part of your maturity benefit during the policy term itself.
- Online Journey
The Digital India initiative by our Government envisions to transform India into a digitally empowered society. To be aligned with this vision, most Insurers today offer a smooth online facility to buy life insurance.
Buying an online insurance plan has its own set of benefits like no intermediary cost, higher sum assured, no hidden conditions, etc. So, go savvy with an online term plan!
Covers All Types of Deaths
A term life insurance plan offers pay-out to your family, in case of your demise. It covers death of all types, including accidents, disability, sickness, disease or even suicide.
Our term insurance product also offers you the option to waive off future premiums after an accident or a listed critical illness!
- Safe & Committed
The Authority, IRDAI, has strict guidelines that we need to follow. As a result, you stay secure under all circumstances. Its objective is to protect your interests as a Policyholder, as well as to promote our orderly growth. So, both you and us can enter in a trustworthy relationship!
To Live Zindagi Unlimited
Choose life insurance and live your zindagi without worrying about the future. While you do that, we take care of your loves ones in your absence.
Have you opted, or would you like to opt, for a life insurance policy, for any other reason? If your answer is yes, do share the 22nd reason in the comments section below. Consequently, you can benefit other readers too!