What Makes Edelweiss Tokio Life Zindagi Plus a Must Buy Plan?

Life Insurance plays a key role in keeping our family secure. The most important goals of one’s life are to secure his/her family’s future. Life Insurance is the simplest way to protect one’s family against uncertainties in life and financial losses associated with them. Regardless of the various investments done over the years, certain eventualities, such as critical illness or death, substantially affect your family’s financial condition and term plans help securing an individual’s financial future against these eventualities.

At this juncture Edelweiss Tokio has designed a term plan , Zindagi plus, which is a comprehensive, all-inclusive solution that remains relevant in the absence of the bread winner. Zindagi Plus, enables its customers to provide a financial protection for their dependants and go a step forward and cover their spouse as well.

If you have dependents or financial liabilities, then it is prudent to get life insurance and a term insurance plan is the cheapest variety of life insurance policy available in the market. However, choosing one from the plethora available in the market can be difficult.

Which is the best term insurance plan in India ? Which Insurance company has the best claim settlement Ratio? Should you buy online or offline plans ? These are some of the questions which comes in the mind of every insurance buyer.

There are many term insurance plans in India, but all of them have different premiums and features which confuses a prospective customer to choose the best term plan for him. Below is a table which shows most of the policies name along with their premiums.

Note : The premiums Below are for 30 yrs old non-smoking male, and 30 yrs policy tenure. The premium quoted is for Rs 1 crore sum assured and does not include service tax. The premiums displayed were taken from respective life insurance companies websites and should be treated as indicative premiums.

(1 crore SA)

Company         Name	Policy Name	Riders   Available	Premium (1 crore    SA)	Additional Features
HDFC Life	Click2Protect	No	10600	Life stage protection
Edelweiss Tokio	Zindagi Plus	Yes	7,423	Premium discounts are given for non smokers
ICICI Prudential	i-Care	Yes	13000	Life Stage Benefit, Top up Benefit, Waiver of Premium

Edelweiss Tokio Life – Zindagi Plus is a term insurance policy which provides considerable life coverage at a nominal cost. Knowing the riders of this term plan will certainly enable you to buy this product as it can suit all your necessities, budget and financial objectives. Let us enumerate the most riders of Edelweiss Tokio Life Zindagi Plus which makes it a must buy life insurance policy for you and your family.

1. The rider of Critical Illness Cover covers you against 17 Critical Illnesses. In this, the policyholder has a choice between two payout options. Single Claim, in which you will receive the selected amount and your policy, will get terminated. The other one is Multi Claim in which you get the advantage of claiming the same amount THRICE without paying any future premiums.
    

2. In Accidental Total and Permanent Disability rider, you’ll get the amount you have selected in case an accident causes permanent disability. This takes care of all your expenses and the policy continues as usual. 
    

3. In the end, we have a Decreasing Sum Assured e in which you can avail the same term insurance for premiums less than standard rates from Day 1. The life cover will reduce by 50% after you turn 60 years old. This is a good news because after retirement your family won’t be as dependent on you as they are now.

Knowing the basic riders of a term plan will certainly enable you to buy a product as per your requirement, budget and financial objectives.

Women Centric Benefits

I am a homemaker, what would be the benefit of term plan to me?

The loss of a family member is irreplaceable. The unexpected demise of the sole bread winner, all the responsibilities will come to the partner. The life of your partner won’t be the same taking care of additional responsibilities, for example taking care of children or parents. With the financial benefit of a term insurance, your partner will be able to take care of your .With term insurance, long term financial obligations like loans or children’s long-term education expense can be met by your partner in your absence.

The USP of Edelweiss Tokio Life – Zindagi Plus is the ‘Better Half Benefit’. Under this, after the demise of the policyholder, 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. 1cr. 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.

Plan	Women Centric Benefits
HDFC Click 2 Protect Plus	NIL
ICICI Pru i Protect Smart	1. Special Premium Rates for Woman 2. Critical illness coverage for female organ cancer
Edelweiss Tokio Zindagi Plus	Better Half Benefit which covers house wives

Additional Features

1. Top-up Benefit- This increases your life cover systematically as per your chosen rate. The point is when your salary increases in the future and meanwhile you think that the cover you have taken is not enough to meet the future requirements and lifestyle needs of your family, then this term plan helps you a lot. Thus, it shields you from future price rise and uncertainties and you don’t have to buy a new policy all over again.

2. Life Stage Benefit- Under this additional benefit, Life Stage sum assured can be added to the Policy while the Policy is In-Force without any medical examination, upon the occurrence of one or more of the following events during the lifetime of the life insured, provided the policy is accepted at standard rates at policy inception and at revival.

3. Waiver of Premium Benefit – This additional benefit can be selected only at the policy inception. Under this additional benefit, on survival of 30 days post the first diagnosis of the life insured suffering from any one of the Insured Critical Illness conditions (as mentioned below) during the policy term and while the policy is in-force, all future premiums will be waived and the benefits of the policy shall continue.

Which online term plan do you have currently and in case you planning to have one, You should go for Edelweiss Tokio Zindagi Plus which not only protect you but also your better half with an affordable price.

 

Chirag Iyer - BFSI Enthusiast

Chirag is a writer and an avid reader who loves to drink coffee! His other interests include boxing, karate, and singing.