Protection in the times of Covid-19: A term insurance plan your family needs immediately!
13 Sep 2021
Any global citizen, today, understands the need for financial planning. If there were any stragglers, the Covid-19 pandemic has made them buck up and put their finances in order. Businesses shutting down, loss of jobs and lives has reminded everyone of the need to be always prepared for anything, at least financially - the need for a monetary safety net for your spouse, children, and all loved ones. Nothing can give you more ease and comfort than knowing that your loved ones will have a corpus to fall back upon in your absence. This would be your gift to them- the gift of a secure future.
And that is where a term insurance comes into the picture.
Not only is it the cheapest kind of life insurance available, it also offers you the opportunity to purchase a cover for a higher sum assured, at nominal rates. This gives more protection to your dependants and negates the possibility of a future financial risk. Of course, there are tax benefits to it too. You can also enhance your protection by adding riders to your term insurance plan to cover additional risks like critical illnesses, accidental death, partial or total disability, etc.
Choosing complete protection
While it is important to stay financially protected, the priority should be to get total protection for your family. Earlier, you had to get different policies for each member, but you now also have the option of choosing one plan that will cover all your loved ones, and give them additional benefits in case of any eventuality. It is your legacy. It is the promise of a secure future for your family members, even when you are not around.
A promise like the one the Edelweiss Tokio Life Total Protect Plus plan makes.
1. Hit that century! The 100-year life cover option under this plan allows you to opt for a cover that lasts till 100 years of your age. This ensures your loved ones- your children and your family members- have finances to fall back upon for an extended period. It is the financial cushion you and your family will have in your old age- nothing better than having financial security even at 100, isn’t it?
2. All-in-one does it. Because sometimes, keeping your eggs in one basket saves you a lot of unnecessary hassle and time. The Edelweiss Tokio Life Total Protect Plus plan ensures you have the plan for yourself and your spouse consolidated in one space. Thanks to the Better Half Benefit option, you can get a life cover for your partner also under the same plan, and that at a very nominal extra cost. ‘Through sickness and in health, through good times and in bad’ will not just be a wedding wow you took anymore. With this plan, you get to live it too.
3. Additional coverage during child’s growing years, we ‘kid’ you not. However, much we might struggle in our adult lives, we want to keep our children protected. Under the Child’s Future Protect Benefit option, your child receives an additional pay-out in case you are not around due to any eventuality to take care of his needs. This option can be opted while buying the term plan and remains active during the Child Coverage Term (25 minus age of child on last birthday) This ensures your child will always remain well protected financially. What a satisfying thought to live with, isn’t this? Knowing that you have opted for total protection that covers not just you but your family too?
4. Discounts are an absolute win-win. To add the final flourish to an already attractive package, you also get a 6% discount on the first-year premium if your medical tests are completed within 7 days of purchase (login)!
Additionally, they have multiple riders for you to choose from and customize your plan according to you and your family’s requirements.
Accidental Death Benefit Rider- This rider acts as a contingency plan in case of accidents and provides additional financial assistance.
Accidental Total and Permanent Disability Rider- In case of a permanent disability because of an accident, your corpus to fall back upon for immediate financial needs. Comes into effect within 180 days of your condition being presented.
Critical Illness Rider- Gives you a lump sum amount in case you are, God forbid, diagnosed with any of the 12 critical illnesses specified; helps with treatment and loss of income.
Waiver of Premium Rider- In case you are diagnosed with any of the covered 12 critical diseases or in case of Total and Permanent Disability due to accident, this rider ensures you do not have to pay any premium towards your plan.
Hospital Cash Rider Benefit- In case of a critical illness, you not only get a minimum of Rs. 1000 and a maximum of Rs. 6000 from the first day of hospitalization, you also get 1% of Sum Assured Value for every day spent in the ICU to help with your hospital expenses.
Calculate your premium here.
The process to apply for this plan is so easy, you can do it sitting at home, sipping on a cold Dalgona coffee, with Netflix running on the TV. All you need to do it to select the best suited coverage for yourself, choose the tenure and the premium payment frequency, add any riders if you so need, choose your nominee, upload your documents, and voila! You are done! Easy-peesy!
So, if you are still not on board already, NOW is the time to make the choice to live zindagi unlimited and opt for Edelweiss Tokio Total Protect Plus plan immediately. Because who waits for the good things of life, eh?