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

Axis Max Life Smart Term Plan (UIN: 104N113V04; Non Linked Non Participating Individual Pure Risk Premium Life Insurance 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 & nbsp;offers much help by taking care of  the treatment costs and all payments related to it.

In the event that you work in a hazardous environment or drive more than average, an ‘Accident Cover’(Axis 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.

When it comes to death benefits, there are several payout options in the Axis Max life Smart Term Plan (UIN: 104N113V04; Non Linked Non Participating Individual Pure Risk Premium Life Insurance 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.

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, Axis 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 Axis Max Life Smart Term Plan (UIN: 104N113V04; Non Linked Non Participating Individual Pure Risk Premium Life Insurance 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.