1. High Sum Assured at Affordable Premium
A long-term insurance plan is a simple form of life insurance. One of the advantages of long-term insurance is its affordable cost. Compared to other life insurance policies, the long-term insurance plan is available at a premium that you can easily afford. Another important benefit of long-term insurance is that if you buy first-term insurance, the lower one will be the premium.
In addition, the premium while buying time insurance online may be lower than buying it offline. In other words, the cost savings that occur at the end of the insurance are passed on to you as one of the benefits of a long-term insurance plan. You can even check the benefits of online word insurance immediately.
2. Multiple Death Benefit Payout Options
You may be paying for EMIs for your new home, car, or personal loan. If you are not, your financial debts may fall on your family members. This is where different payment methods for the insurance policy play an important role.
Your dependents may receive a lump sum in the event of your unfortunate death and this amount will help them to manage the above financial liabilities.
Some long-term insurers also offer you the opportunity to earn a monthly income and lump sum as a death benefit. With this monthly income, your family may find it easier to manage regular expenses.
3. Accidental Death Benefit Coverage
Accidents can happen at any time and can lead to death or amputation. Therefore, you can add additional cover using the Max Life Accidental Death and Dismemberment Rider (UIN: 104B027V03;
Max Life Death and Dismemberment Rider (UIN: 104B027V03; Pure Risk Premium Health Insurance Rider) from Max Life Insurance protects your family’s financial future in the event of your accidental death or amputation. You can add this rider to your life insurance to provide additional insurance benefits or cover in the event of a fatal accident or termination. [2] A guaranteed amount is paid to the beneficiary by a lump sum contract as the benefits of a long-term insurance policy. You can add a Max Life Accident Death and Dismemberment Rider at any time, as long as the remaining basic policy duration is at least 5 years.
To get the benefits of a long-term insurance plan for an accidental passenger, you can add this passenger while purchasing the policy or after-purchase. Also, you should understand the benefits of coverage for various passengers before you can incorporate them into a long-term insurance plan
