Edelweiss Tokio Life CritiCare+ Scores a Plus in 3 Important Areas

Think of term life insurance and we have so many options offering different permutations and combinations. We also have specific products getting launched every now and then. Buying an insurance plan is a long term decision and the first step would be to list out the priorities and choose a few of the companies and the products suitable for the requirements.There are many ways to select insurance products and one such way is checking out online insurance portals such as PolicyBazaar where important features of the products are compared for our convenience. Though the comparison lists out the benefits offered by many insurance providers, there are few important features that must be analyzed before finalizing an insurance plan.

edelweiss1Going by the products in the market, Edelweiss Tokio Life Criticare+ is one product that is worth considering as a non-participating life insurance plan. The other facet of this plan is that it is not a unit linked plan. Few important details about this product when matched with the other leading insurance providers can help you to understand its offerings and decide if it suits you.

Age:  What is the maximum allowed age to take the plan? Edelweiss Tokio Life Criticare+ allows the age limit for the sum insured and the dependents as 65 with no tags attached. Naturally, the next question is about the age at the time of maturity.  Maximum age at maturity cannot exceed 70 years. Looking at this aspect, it seems this insurance provider gives us the liberty to include our aged parents at the aged 65 or below can be included in this Edelweiss Tokio Life CritiCare+ plan.

Sum Assured: What is the maximum sum assured to the insurer? This plan has a maximum assured amount of Rs.1 Crore.  Note that this plan belongs to the Critical Illness insurance plan sector and a sum assurance of Rs.1 Crore cap is certainly a swing factor for this plan.

edelweissCritical Illness Coverage: The idea behind life insurance is creating a fall back option when things do not go well. In today’s lifestyle, critical illness list keeps extending and it is important for us to find a critical illness insurance plan that covers more. Edelweiss Tokio Life Criticare+ covers 17 critical illnesses and that’s not all, it puts them into 4 categories. This categorization gives us the opportunity to make a claim once under each of the categories, giving us an opportunity to make more than one claim in the policy. A point of attention here, though we have 4 categories, the insurer can claim 3 times only for critical illness during the lifetime of the policy.

Additional benefits, discounts, tax benefits under 80 (C) and Section 10 (10D) of the Income Tax Act, 1961 are also available in this plan. Life insurance policies work on the same principles and work on slight variations to address specific interests and to attract customers. To be honest, these variations are the ones that influence our decisions. So it is best to arrive at the best insurance plan by analyzing enough. Going by the product offerings, Edelweiss Tokio Life CritiCare+ did not disappoint us.

Posted on May 19, 2015, in Health, lifestyle, Medical and tagged , , , , . Bookmark the permalink. Leave a comment.

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