5 reasons your term plan needs critical illness benefit
PNB MetLife 10-03-2017 05:57:44 PM
Term insurance plans are highly sought after in the life insurance market. Financial experts always favour these types of insurance plans over any kind of product in the market. A great benefit of term insurance plans is that they offer higher sum assured amounts at very low premium rates.Read More
Something that every consumer might not be aware of is the various riders that accompany a term insurance plan. While dependent on the requisites of the insurance seeker, policyholders are encouraged to purchase critical illness riders along with their term insurance policy instead of investing in full-fledged health insurance plans.
Critical illness can dry out a person’s finances and so it’s best to have a term plan that offers a critical Illness pay out on the diagnosis of major illnesses like cancer or heart attacks. The critical illness rider provides you add-on coverage that can take care of medical day-to-day expenses, by just paying a little extra premium. Also, you can avail higher tax benefits: You are covered by the term plan under Section 80C along with critical illness coverage under Section 80D of the Income Tax Act, 1961.
It is extremely important to include a critical illness insurance benefit in your term plan to ensure you’re never caught in a situation where you aren’t able to finance a serious health condition. To get a free quote, contact us here.