Recent years have taught us a crucial lesson - life is unpredictable. An unforeseen illness or accident can derail our future plans and affect our family's financial stability. Uncertainty is a constant in life. Many consumers worry that if nothing unfortunate happens, they will have wasted a considerable amount of money paying premiums for term insurance. Some worry about the not-so-good days where you miss paying the premiums and end-up losing your life cover.
But have you ever considered choosing a term plan that is as flexible as your life needs and protects you in all life circumstances. Having a term plan is no more an option! What would happen to your loved ones if you were to suddenly pass away, and you have no term insurance plan in place? It's not a pleasant thought, but it's a reality that we all have to face at some point. This is where life insurance plans like term insurance comes in, providing a safety net for your family's financial security in the event of your untimely death.
In this blog post, we'll explore why life insurance is a non-negotiable in life and the benefits of having Edelweiss Tokio Life Zindagi Protect to ensure maximum protection for your loved ones with a zero-cost term insurance plan. Let’s look at some important questions that may arise regarding this plan.
Why Choose Edelweiss Tokio Life Zindagi Protect?
Edelweiss Tokio Life - Zindagi Protect is a life insurance plan designed to provide protection to you and your family. It gives your life an all-round protection with the multiple benefits offered to take care of your ever-changing responsibilities as well as increased cost of living. It also ensures that the family remains well protected if and when the main bread earner of the family isn’t around.
While most people understand the importance of having a term insurance plan in place, but the fear of losing all your money towards premium if nothing unfortunate happens is a common problem.
What make Edelweiss Tokio Life Zindagi Protect a Zero-Cost Term Plan?
A zero cost term plan, also known as a "return of premium" term plan, is a type of life insurance policy where the insurer promises to refund the total premium paid by the policyholder if they survive the policy term. This means that you outlive the policy term, you will receive the entire premium paid towards the policy as a lump sum. However, if you unfortunately pass away during the policy term, the death benefit is paid out to the nominee or beneficiary as per the policy terms and conditions.
This Special Exit Benefit is available with the Plan Option Life Cover, for policy term more than 40 years. Under this benefit, you will have the option to exit from the policy in a certain policy years. If you choose to exercise this benefit, then total premiums paid towards Life Cover Option and Premium Break Benefit, if any, but excluding the loadings for modal premiums, taxes, rider premiums, underwriting extra premiums would be returned back and the policy will terminate.
What makes Edelweiss Tokio Life Zindagi Protect Suitable for You?
One major USP of this plan is the flexibility it offers to pay as long as you need life cover and get premium back on termination. Second feature that makes it a perfect choice for today’s time is the flexibility to select Premium Break benefit, by paying additional premium, which enables you to skip up to 8 premiums depending on the premium payment term, while you enjoy the benefits of your plan.
During your good days you are able to pay all your premiums on time and then not so good times when you miss a premium or two or even three. And you think may happen is you ending up losing your term protection. But no more! With Edelweiss Tokio Life Zindagi Protect – you can choose Premium Break(s) after completion of certain number of fixed policy years. Once a Premium Break is exercised in the policy, you are not required to pay due premiums for the next 12 months. During the Premium Break, your policy will be in-force and the cover will continue and in case of your death during this period, applicable Death Benefit will be paid, and the policy will terminate. Premium Break Benefit is only available for Premium Paying Term of 10 years or more.
Following are additional features of Edelweiss Tokio Life Zindagi Protect that makes it a must-buy term insurance plan!
- It offers security of your family’s financial future through life insurance cover
- An option to avail life insurance cover up to age 100
- Option to choose between Life Cover option OR Return of Premium option for all round protection.
- Option to select, Better Half Benefit by paying additional premiums, to provide life cover for the spouse and thus, enhanced financial security for the family even in the absence of the main bread earner.
- Option to select Child Future Protect Benefit by paying additional premiums to increase your life cover till your child turns 25 years old during which you may have higher responsibilities.
- Flexibility to choose limited pay or regular pay premium payment options.
- Avail a discount of 6% on First Year Premium if the medical examination is completed within 7 days from the date of login.
While there are various plans in the market offering term insurance benefits such as life cover and financial security for your family, what makes Edelweiss Tokio Life Zindagi Protect a preferred choice is the flexibility it offers to help you secure your financial protection according to your life goals and needs. To learn more about the Edelweiss Tokio Life's Zero-Cost Comprehensive Term Plan, Zindagi Protect, click here.
Siddhant Dubey - Writer & Photographer
Siddhant works as a freelance content writer who is interested in a wide range of spheres from photography and personal finance to cooking. He is also an aspiring photographer striving to showcase life around him through his vision.