As life goes on, the needs and demands of your family grow too. As the head of your family, you need to fulfill your responsibilities towards your loved ones and provide the comfort which they need. However, life is full of uncertainties and it is a need of every individual to sustain the same lifestyle for their family even when he/she is not around.
Hence, unless you are purchasing a term life insurance policy for only a few years, price rises should be an important consideration; the future value of money should play an important part in your calculations and hence the need to continuously evaluate your life insurance needs. If you are interested in a long-term policy – for example, 20 or more years – or if you are obtaining a whole life insurance, then the future value of money should play a part in your calculations.
Mr. Jain, a 30-year-old man, has finally made the decision of buying a term insurance. But he has a legitimate concern. Will today’s insurance be sufficient for his family 10 years from now? Hence to cope up with the uncertainties of life as well as uncertainty in price rise he finally made up his mind on Edelweiss Tokio Life – Zindagi Plus which covers your present requirements but also provides the flexibility to take care of your changing responsibilities as well as increasing cost of living. Hence, he selected the Top-up Benefit at 10%. He bought a life cover of Rs. 3 cr up to the age of 80 years. This will increase every year by 10% i.e. in Year 2, his life cover is 3.3 Cr and so on. After 10 years, his total life cover will be Rs. 6cr which is the highest limit, as the Top-up is equal to the base life cover (Rs. 3 cr)
Thus the Top-up benefit Increases your life cover systematically as per your chosen rate. The premium will also increase accordingly. A big advantage to anyone who buys Edelweiss Tokio Life – Zindagi Plus, the Top-up Benefit is that even if he suffers from any medical condition in the future, his policy won’t stop, no matter what. Thus, it shields you from future price rise and uncertainties. You also get to avoid the tedious formalities of buying a new policy again.
Thus, all his main worries are met. His future is taken care of and he won’t have to buy another policy later on.