Ditto

When the Insurer waives your premiums

Imagine one day, the doctors tell you that you will be confined to a wheelchair permanently. It’ll be devastating, I know. You will have to quit your job. You will have to figure out a way to make a living despite your condition and in the meantime, you will have to relook at your investments, prune your spending and maybe even drop your term insurance policy.

How are you going to pay 15,000 every year in premiums, eh?

That money could come in handy elsewhere. But what if it didn’t have to be this way? What if the insurer allowed you to keep the policy even without paying your premium.

See… Your condition is unique. You would have persisted with the policy if you hadn’t been disabled. So some insurers will allow you to opt for a waiver. That’s them telling you — Pay a small fee and you won’t have to worry about your premiums in the event you are disabled. You can still keep your policy!!!

And while the waiver I just described kicks in if you are permanently disabled, you could also opt for a waiver if you are diagnosed with a critical illness — like Cancer.

A waiver of premiums might not sound like much. But if you are permanently disabled or if you are forced to quit your job because of a critical illness, this benefit could be a lifesaver. So maybe you should actively consider both riders.

If you need help shortlisting a good term policy or if you want to talk about your cover amount, text us on Whatsapp.

Ditto

With Ditto, you don't just compare insurance. You understand it. Narrow down choices. Avoid pitfalls and make better decisions.

Made with by Finshots


Finshots © 2021. All Rights Reserved.

Disclaimer : The information contained in this website is presented purely for information purposes only provided as service to the internet community at large. It does not constitute insurance advice and we do not guarantee the accuracy, adequacy or the completeness of the information contained here.


Get in touch: support@joinditto.in | +91-8095656931
Tacterial Consulting Private Limited
CIN: U74999GJ2018PTC103398
IRDAI Registered Corporate Agent (Composite) License No CA0738 valid till 9th December 2023