Thread by @joinditto

Everyone's buying term insurance before premiums get hiked by almost 40% this December.

Here's all you need to know about which add-ons you should consider if you're buying a term plan.

A thread.👇 (1/5)

1.) Life Stage Benefit

Term insurance policies are rigid- coverage stays the same till the policy expires.

👉With a life stage rider, the insurer provides the flexibility to increase cover by a certain amount during major life events like getting married & having kids. (2/5)

2.) Waiver of Premiums

Imagine you get disabled (it’s a painful thought, I know). You lose your job, and your family suddenly has no income.

But you have a life insurance policy. Who will pay the premiums?... (2/6)

In such scenarios, some insurers will allow you to opt for a waiver.

It's them telling you to pay a small fee so you get to keep the policy and don’t have to worry about premiums if you get disabled. (3/5)

3.) Critical Illness Rider

If you opt for a critical illness rider, the insurer will pay a certain amount to help you tide over the crisis of such an illness.

Note: some policies will pay the corpus from your sum insured, so your term cover will reduce by an equal amount (4/5)

If you haven't already, make sure you buy a term policy before the ship sails away.

And if you want some help on that front, book a free call with Ditto Insurance- bit.ly/3ADvAKf.

You’ll have the best insurance advisors at your fingertips. (5/5)