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A traditional life insurance policy forms a basic hedge between the financial insecurities and your family’s future. In an uncertain life, where as a breadwinner for your family, you may feel stressed about the future of your loved ones in your absence, a life insurance policy seeks to act as a guarantee for their benefit. A traditional life insurance policy is the one that offers guaranteed benefits in the shape of sum assured i.e. death benefit to the nominee(s) of the policy holder, in the event of the policy holder’s demise during policy term. Although a standard term insurance policy does not entitle the policy holder to receive any maturity benefits i.e. financial benefits in case she/he survives the policy term, yet there are other forms of life insurance that provide such benefits. One critical aspect of the policies being offered by various insurance providers today is the option of choosing riders.
Riders are additional benefits that are provided by the insurance provider, in addition to the main plan benefits. There are various riders that come with different features and vary from one plan to the other. In a term insurance plan riders offer various benefits and as such, must be chosen carefully and after due comparison.
Therefore, it must be said that although having riders may prove to be beneficial in the long run, yet it must be kept in mind that riders must be chosen carefully after suitably matching your specific needs and requirements.
HDFC Life offers Click 2 Protect Life – an online term insurance plan that offers guaranteed financial protection against the unforeseen maladies like death, disease and disabilities. It seeks to protect your family’s financial needs, even in your absence.
We help you to make informed insurance decisions for a lifetime.