Jul 24, 2018 3

Top Term Insurance Plans that Covers Critical Illness

The term insurance plan is the oldest form of life insurance that pays a lump sum amount (sum assured) on the death of the policyholder, provided that the death has occurred in the coverage term or tenure. In case, the policyholder survives the coverage term, his cover will give up and not anything might be paid to him.

So are you looking for critical illness riders?

Life is unpredictable & ailments always come unannounced and affect your physical as well as financial well-being. With the same, you don’t have to deal with the hefty clinic's bills. Except this, the possibilities of skipping work or, in the worst case scenario, being asked to give up your task will increase your anxieties as well. Such outcomes virtually affect your profits float and capability to deal with the massive medical payments.

The vital illness rider has been created with the purpose to protect yourself and your family in terms of dealing with big medical bills.

Top 5 term plans with important illness benefits

1. Max life insurance online term Plus

Max life insurance online term Plus policy is the least expensive way of ensuring the monetary properly-being of the insured’s family, even in his absence. All you need to do is pay a nominal, annual premium, for a fixed time period, and in case of your unlucky death all through the coverage tenure, your own family is paid the sum assured.

This unique plan provides a death gain (no survival benefits) at the death of the life assured, which he can choose from the following three options:

  • Sum Assured
  • Sum assured plus level monthly income
  • Sum assured plus increasing monthly income

2. Kotak Life e-term

Kotak lifestyles e-term plan is one of the lowest in cost and pure risk cover term plan that is designed to provide the gift of economic safety to one’s own family. There are 3 different plan options to choose from and on the occasion of the loss of life of the life assured, his nominees will get hold of the death benefits:

  • Life Option - Sum Assured on Death
  • Life Plus Option - Benefit under Life Option + Accidental Death Benefit
  • Life Secure Option - Benefit under Life Option + Waiver of Premium on Total and Permanent Disability

3. DHFL Pramerica Flexi term

DHFL Pramerica Flexi term is a customizable monetary shield to guard your family’s future financial wishes. The plan gives the option of enhancing or adding a booster to at least one’s lifestyle cover as per the converting needs for changing life tiers. As a policyholder, you furthermore might get the power to select from 5 extraordinary safety options:

  • Life Cover
  • Life Boost
  • Life Smart Step Up
  • Life Health Hike
  • Life Total

4. Edelweiss Tokio My life+

Edelweiss Tokio My life+ is a non-participating, non-linked term insurance online coverage plan that no longer simply covers the insured’s lifestyle but also offers monetary security to his family at a completely aggressive price. With this plan, you could both pick out to provide your own family with a lump sum amount at one pass or with a monthly payout (which should be a more preferred desire as a massive lump sum quantity isn't always easy to control and plenty depends on the people’ savings).

5. Bharati AXA Flexi term

Bharati AXA Flexi term provides the flexibility to pick from three special existence insurance (death advantage) pay-out options:

Lump sum – One-time price of the sum assured monthly earnings – monthly payout for 15 years wherein the income will growth by 10% every successive year Lump sum plus month-to-month profits – half of the sum assured is given at death of the policyholder and the remaining half of may be given as monthly payout for next 15 years (increasing yearly at 10%).

The policy also lets you pick out any individual of the 3 important illness covers on the time of signing-up:

Comprehensive cover – Covers 34 important illnesses main infection cover – Covers 15 predominant critical illnesses coronary heart & cancer cover– Covers 9 critical illnesses for the coronary heart and most cancers related issues.

6. Bajaj Allianz eTouch online term

Bajaj Allianz eTouch online term is complete term coverage plan that offers lifestyles, accidental and medical insurance to its policyholders along with the gain of premium waiver. In quick, the plan works like a shield to protect the life assured against various odds. The plan is available in 4 exceptional variants, viz:

  • Shield – Life benefit + Premium Waiver benefit (in case of Accidental Total Permanent Disability)
  • Shield Plus – Life Benefit + Premium waiver benefit + Accidental Total Permanent Disability Benefit
  • Shield Super – Life Benefit + Premium waiver benefit + Accidental Death Benefit + Accidental Total Permanent Disability Benefit
  • Shield Supreme - Life Benefit + Accelerated Critical Illness Benefit + Premium waiver benefit + Accidental Total Permanent Disability Benefit

All plans are best term plans mention above. If you want full details of every plan you can visit, here are you compare term plans online and find the best plans as per your needs.