By Apoorva Mandhani
In the 2016 documentary ‘Gleason’, former professional football player Steve Gleason is seen making a video diary for his unborn son, after being diagnosed with the muscle-debilitating disease Amyotrophic lateral sclerosis (ALS). The film begins in 2011, with a recently diagnosed Gleason speaking directly to the camera in a video diary entry for his unborn son. He says,
My number one focus and purpose is to share with you who I am, and to give you as much of myself as I possibly can, while I can and Im excited.
The knowledge that he might not be around for his son became Mr. Gleason’s source of inspiration to pass along his love and knowledge to him, for he knew he was living on borrowed time.
That is the thing with lifes uncertaintieswe fail to acknowledge their existence, even though all of us are living on borrowed time. It is these uncertainties that a life insurance cover shields your loved ones from. Life insurance is certainly something that nobody ever wants to use, but, as with all other insurances, it is sensible to be prepared. Besides, with lifestyle diseases on a rise, it has almost become imperative to choose a term plan which comes with a critical illness benefit.
Interestingly, Edelweiss Tokio Life functions with the motto of Insurance se badkar hai aap ki zaroorat, striving to provide a solution that is tailor-made to fit their customers needs. It is this vision that has been the principal driving force behind its recent term insurance plan - Edelweiss Tokio LifeTotalSecure+, which is a comprehensive protection plan that provides complete protection – life cover as well as cover against critical illnesses. Additionally, the policyholder gets a tax benefit u/s 80D.
A shield against lifes financial problems
Edelweiss Tokio LifeTotal Secure+ claims to be the kind of shield that can protect its users from most of the financial struggles in life. The plan not only provides a death benefit but also a critical illness cover against up to 35 critical illnesses. For instance, consider a situation where a policyholder has taken a policy of Rs. 60 lakhs, with a critical illness cover of Rs. 10 lakhs. If he falls critically ill, subsequently he will be paid a lump sum amount of Rs. 10 lakhs, and the policy would continue with Rs. 50 lakhs as the Base Sum Assured. If, however, he passes away during the policy term, without having claimed for critical illness Sum Assured, his family would be paid the Sum Assured of Rs. 60 lakhs.
The product provides the Policyholders with the benefit of choosing from three death benefit payment modes lump sum, monthly income, or a combination from both. The Policyholders may also receive an increased amount every month, as per their requirements, thereby functioning as a defense against the rising prices.
Besides, the life cover can be made more comprehensive by adding various riders. For instance, the Accidental Total and Permanent Disability Rider provides the payout in case the policyholder meets with an accident that causes a disability ensuring that the policyholder and his family does not suffer from any financial stress as he recuperates. Policy holders can also utilize the benefits from other riders such as accidental death benefit rider, waiver of premium rider and cash benefit rider.
The product, therefore, furthers Edelweiss Tokio Lifes agenda of placing its customers needs as a priority, by providing an ideal term plan that combines the benefit of a stand-alone life insurance policy (comprehensive cover) with the benefit of a Critical Illness rider (affordability and convenience). Besides, its claim settlement ratio of 93.29% assures that the future of its customers and their family members are in good hands.
Photo by Aziz Acharki on Unsplash