When buying Term Insurance, include the Personal Accident and Critical Illness riders along with it, suggest the experts on the OneInsure Research Desk. Read on to know why.
Instead of having 3 separate decisions to make, you are covered for any and all circumstances in one go, which is advisable.
- Personal Accident insurance covers you in case of unforeseen scenarios and pays in the case of permanent disability, broken bones, or burns due to an accident, which your term plan will not do. PA insurance also provides benefits like hospital cash and ambulance charges.
- Critical Illness insurance covers you when you are diagnosed with one of the predetermined life-threatening illnesses specified in the policy. While term plans will make the pay-out after death, CI insurance ensures you have a large lumpsum pay-out while you are hospitalized so you can fight the disease without worrying about finances.
Besides the previous point, the premiums of buying a term plan with PA and CI riders is generally going to be lower than buying these 3 insurance plans separately.
Lastly, this decision makes your life hassle-free as there is just one premium to pay, no burden of remembering 3 premium payment dates, and you know you and your family are covered for any eventuality.
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