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Why Term Plans Are Your Calculated Bet Against Life's Uncertainties?

Life is one big adventure. The places we go, the lessons we learn, the mistakes we make, all contribute to this adventure. Indeed, each of us has a different journey and destiny, but the truth is that uncertainties and risks are part of this adventure.

#Term-Insurance
2:11 min read

Life is one big adventure. The places we go, the lessons we learn, the mistakes we make, all contribute to this adventure. Indeed, each of us has a different journey and destiny, but the truth is that uncertainties and risks are part of this adventure. Be it illness or accidents; uncertainties can strike anyone, anytime. However, you cannot let the fear of unforeseen hijack your happiness.

While you cannot avoid these uncertainties, you can very well protect yourself and your loved ones financially in case you are affected by any of these untoward events. This is possible by judiciously planning to remain one step ahead of unfortunate events. Meaning, other than keeping up a healthy way of life to keep diseases under control, it is additionally critical to ensure the financial security of your loved ones.

Term Insurance’ may be the answer for you. It can act as your buffer in more than one way, against the financial distress that uncertainties bring along. And, especially with a comprehensive plan like Max Life’s ‘Smart Term Plan’ in place, your loved ones can handle life’s bouncers without any worries.

Designed to protect against losses suffered on account of unexpected events like death, disability, and critical illness, the Max life Smart Term Plan provides you with a  sense of security . Let’s understand how the Smart Term Plan (STP) can be your calculated bet against different uncertainties of life.

(Image Credit: Shutterstock)

Protection Against Major Critical Illnesses

Max life Smart Term Plan is a comprehensive term plan which covers you against not just one but 40 critical illnesses. This is extremely beneficial considering:

  • The expensive treatment cost for critical illnesses like Cancer, Kidney failure, Heart disease
  • The longer recovery period during which the individual is unable to provide his family with an income

The ‘Accelerated Critical Illness Cover’ available with the Smart Term Plan offers much help by taking care of  the treatment costs and all payements related to it.

Coverage Against Accidents

In the event that you work in a hazardous environment or drive more than average, an ‘Accident Cover’(Max Life Comprehensive Accident Benefit Rider)might be a good rider to consider adding to your term plan. With this rider set up, an additional sum assured is payable if you pass away as a result of an accident.

In this manner, this rider acts as your calculated bet against accidents - one of the significant life uncertainties that cripple the financial status of the surviving members.

Option To Receive Death Benefits As Monthly Income

When it comes to death benefits, there are several payout options in the Max life Smart Term Plan including various combination of lump sum and monthly income.

The monthly payout, in addition to the one-time payout, helps to meet your family’s daily expenses like:

1. Groceries

2. Utility Bills

3. EMI’s

4. School fees

All in all, the monthly income option is beneficial, especially if you want to ensure that your loved ones face no financial burden and maintain their lifestyle even in your absence.

Get Your Premiums Back At Maturity

Upon the demise of the life assured during the policy term, a regular term plan offers death benefits. However, if the person survives, there are no returns at maturity. This is the reason why many risk-averse individuals avoid buying these plans. However, to cater to this group of individuals, Max life Smart Term Plan offers the ‘ Premium Back’ option^

With this option in place, the premiums that you pay throughout your policy term are returnable if you survive. This is what distinguishes the Max life Smart Term Plan from normal term plans. So, if you wish to avail survival benefits upon maturity of your term plan, this plan is exactly what you need.

To summarize, we can say that you cannot avoid getting caught in the impacts of life’s workings. However, term insurance can act like your three-headed spear, slicing through dilemma, agony, and financial instability, that any unpleasant incident may cause you and your dear ones.

ARN:- JuneBG/F/30

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