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News & Views

Monday, Sep 4, 2017

Death, Disability and Disease – Fears of a modern lifestyle

[Source : The Economic Times]

What is your biggest fear in life? Losing a job, falling from a cliff or suffering from a disease? These are not things that are in one’s control. But there are some things in life that can be controlled.

A term insurance plan can help your family live a life of dignity and comfort even when you are no more there to protect them. Not just death but a fatal accident can change your life forever. The consequences of an accident are recurring and cause serious damage to your financial and social position. Permanent disability not only results in loss of income but also damages your morale. This can be safeguarded with a risk insurance cover that protects you till you are alive that too at affordable rates.

According to statistics, more people are killed in road accidents everyday than in wars put together. Data by National Crime Records Bureau shows there has been an increase of over 40 percent in accidental deaths in 2015 in comparison to year 2005.

A total of 4,13,457 accidental deaths were reported in the country during 2015, out of which around 82 percent were due to unnatural causes. Maharashtra reported highest number of accidental deaths, contributing nearly one-sixth of total deaths reported in 2015. Madhya Pradesh and Uttar Pradesh accounted for the second and third highest number of accidental deaths.

Gender-wise analysis reveals that female and male constitute 20.6 percent and 79.4 percent of total victims respectively. 1/9th victims of accidental deaths were children below 18 years of age, states the NCRB data.

What is alarming is that the share of deaths due to unnatural causes like traffic accidents rose by 42.9 percent, as per the latest data. With the increase in working professionals, male and female, the need for term plan has grown manifold. Insurance is no more an add-on accessory to your investment portfolio but a necessity to secure future.

Most of us today take substantial loans for a dream home, car and other needs. An accident can happen anytime, anywhere and render us physically disabled. The plight of putting the entire debt burden on your family at such a juncture is unimaginable, especially if you are the only bread earner.

Not only this, but we are slowly inviting a third devil to enter our lives. Given the stressful and unhealthy lifestyle we follow, we are likely to encounter life threatening diseases much early in our lives.

Can there be a solution to all three Ds- Death, Disability, Disease? HDFC Life Click 2 Protect 3D Plus can solve this with one term insurance product. It gives the benefit of lump-sum pay-out on death or diagnosis of critical illness.

In case you feel that your family may not be in a position to handle the large amount of money received on death. You can choose the monthly pay-out option so that the family gets regular income for continued financial stability.

There are 9 options to choose from as per your need. It also offers waiver of future premiums on diagnosis of any of the covered 34 critical illnesses.

One of the plan options lets one pay till the age of 65, and the life cover continues till you are alive.

Get your plan today to protect your loved ones from the 3Ds. This is undoubtedly the most cost-effective life insurance coverage for modern day families.

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