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Act of God
Term Insurance

All Term Plans Cover Acts of God Too!

The novel coronavirus COVID-19 has been in the news a lot lately. With the global outbreak, positive cases in India emerging at a steady rate, and the fact that there is still no cure, it is a cause for grave worry.

While medical experts and researchers are grappling to find a cure, the truth is that not much is known about this new virus.

They say wearing masks, avoiding mass gatherings, and washing hands regularly are good precautions, but these are only precautions and inhibit the regular flow of life and work too. For example, how can anyone avoid mass gatherings? If you travel in a bus or train, you are in a mass gathering. If you visit a mall, you are in a mass gathering. If you simply go to work, you are in a mass gathering too.

Getting infected with COVID-19 is what would be termed as an act of God. And, for the most part, this is beyond anyone’s absolute control. However, what can be controlled is what happens in case your infection is acute and you fall under the 2% of those who are not able to recover from the disease. As a responsible householder, you should not leave your family's financial situation uncertain and without a firm safety net in case you are no longer around.

All term plans cover acts of God. Naturally, death due to an illness is also covered in these plans. As you might already be aware, term plans come with the advantage of comparatively low premiums and very high pay-outs.

So, what are the pay-outs going to be used for:

  • Will cover your immediate loans and liabilities
  • Will cover your children’s primary and higher education fees
  • Will cover household expenses like monthly bill of groceries, maid servants, driver, petrol, and so on

Make sure before buying a term plan that the sum assured (pay-outs) covers the mentioned expenses. If it is doing so, you can relax – you are adequately covered. It’s really that simple!

In case you are wondering how to calculate primary and higher education expenses, look no further:

  • Calculate your children’s current annual tuition fees and multiply it by 6, 8, 10, or any number depending on which standard they are in currently.
  • For higher education, note the current fees of the course and multiply it by around 2.5 for every 10-year period. For example, if MBA costs 15 lakhs now, it is going to cost around 40 lakhs in 10 years’ time. This is the inflation-adjusted figure.

Beyond this, if there are further queries, our team of insurance experts, who eat, drink, and breathe insurance are at your service at or 86559-86559. Feel free to reach out to us.



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