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A Term Plan is Your Financial Parachute

  10/10/18 4:37 AM

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Have you ever enjoyed the thrill of sky diving? Just Imagine, if you jump off a plane without a parachute and still think nothing will happen to you. Our life without a term life insurance is similar to this, as most of us are living with the notion that I am going to live forever and would live my life without a parachute.

The grim reality of today is something that we all should comprehend. While life expectancy has increased, there are also many youngsters dying an untimely death. This makes it important for us to look beyond our day-to-day lives and our financial security.

In the good old days, purchase of a life insurance policy was a matter of choice for most individuals. But now it has become a must condition. What we need to understand is why one needs to buy a term insurance plan?

  1. Nuclear family structure – With the advent of growing number of opportunities in cities and towns, more people want to leave their smaller towns and migrate to urban cities. Also, lifestyle changes and the generation gap has led to fewer joint families and growing number of nuclear families. This means there is no social structure to take care of our family in case of an eventuality.

  2. Higher stress levels leading to chronic health issues – Whether we like it or not; urbanisation, competition, the urge to satisfy our lifestyle needs, peer pressure and innumerable goals have made us dynamic, but have also gifted us increased amounts of stress. The growing number of heart attacks in the 30+ age group and increasing levels of sugar and cholesterol in individuals are making our lives riskier. Moreover, heart diseases remain the leading cause of death in India for over two decades now.

  3. Single earning member of a family – In India, most adults need to earn money to make ends meet. This is one positive, but when an entire family is dependent on a single earning member things can get tough if something happens to that individual.

Edelweiss Tokio Life – Zindagi Plus is much more than a term plan. It’s a futuristic plan catering not only towards fulfilling your present requirements but flexible enough to take care of your changing needs and responsibilities which will occur in the future. The life cover can be chosen as little as 25 lakhs and as high as 10 crores.

Edelweiss Tokio Life – Zindagi Plus offers the ‘Better Half Benefit’ under which after the death of the policy holder, a life cover will start in his/her spouse’s name. This will be 50% of the life cover of the policy holder, up to an amount of Rs. 1crore. The spouse won’t have to pay any premium and the nominee will also get the sum assured. A very important feature of this benefit is that it also covers housewives under the policy.

Whether it is taking care of the family’s future wealth or protecting your family against any odds Edelweiss Tokio Life – Zindagi Plus helps in taking care of one’s financial goals at various life stages.

Hence, we all need to take a step back, relook at your finances and get a term life insurance right before it is too late.

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