This is exactly the thought Rahul had in his mind until he met his friend Amit while commuting on a Metro railway.
They met after a long time. Almost 6 years after graduation. They had a long conversation and in between their conversation related to whereabouts and how life is, Amit mentioned something that made Rahul think about things he never thought. And probably, you too, wouldn’t have thought about this.
Amit revealed that “One of our classmates, recently passed away in an accident. He had taken a student loan from a bank where his parents were the co-borrowers. Apart from the emotional strain of losing a young kid in front of their eyes, his parents had to also face a huge financial burden because of the student loan, which they were equally responsible to pay back.”
Rahul was shocked while listening to him. And the only question that was constantly bombarding in his mind was that how will his parents manage to repay the huge amount? They are nearing retirement and are not financially prepared.
At this juncture, various thoughts pondered in his mind. The high- interest rate completely exhausting his parent’s savings, the medical and post-retirement expenses his mom and dad will need to manage independently in his absence.
That’s when Amit informed Rahul that the only way he could protect his family from such uncertainties is by choosing a term insurance plan. Rahul then remembered that he had come across an online term insurance plan called Edelweiss Tokio Life – Zindagi Plus. A plan that will take care of his present as well as his future needs when it comes to complete security.
For a young and vibrant person like Rahul, Edelweiss Tokio Life – Zindagi Plus seemed like an innovative and flexible plan. He was impressed with three important features like Top-Up Benefit. Under the Top-Up Benefit, he could opt for an increasing sum assured. So along with his responsibilities his sum assured will also increase. So, tomorrow when he plans to get married and have a family, this top-up benefit will provide adequate financial security.
Another benefit which impressed him was Life Stage Benefit. Under this benefit, upon the occurrence of important events like marriage, first child and second child a Life Stage sum assured can be added to the Policy without any medical examination. In this way, Edelweiss Tokio Life – Zindagi Plus was able to cater to his needs of fulfilling future responsibilities.
The last but not the least feature that amazed Rahul was the waiver of premium feature. Under this feature, all his future premiums will be waived off in case he is diagnosed with a critical illness.
He then spoke to Amit about the features of this online term plan. Amit was also impressed and he even re-considered his existing term plan.
Rahul was completely confident that by choosing Edelweiss Tokio Life – Zindagi Plus, he and his loved ones will be financially secure and peaceful forever.
Rahul has taken this wise decision, are you still thinking that you don’t need a term plan just because you are single?