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Edelweiss Term Plan for Housewife

Edelweiss Term Plan for Housewife is meant to provide life cover to housewives that are pillars of a house. A term insurance policy is essential due to the rise in health problems in women like breast cancer and Polycystic Ovarian Disease (PCOD). Apart from life cover, housewives can also benefit from term insurance plans that include added riders, such as a critical illness benefit. So, you should consider a term insurance policy to safeguard your spouse and your mother from financial hardship in the future. Fortunately, Edelweiss Life – Zindagi Plus can be a good option.

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Edelweiss Term Plan for Housewife: The Zindagi Plus Plan

Edelweiss Life Zindagi Plus is a flexible term policy that meets changing insurance needs of the policyholder and his/her family. 

Steps to Get the Zindagi Plus Plan

You need to follow the below-mentioned steps to purchase the Zindagi Plus plan:

  1. Step 1

    Choose the coverage amount you think covers your family's interests. It is advisable to select a cover 20x your present income. 

  2. Step 2

    • Select the policy tenure. 
    • Choose the tenure to pay premiums. 
    • Specify the pay-out medium.
    • Select the frequency of paying premiums. 
  3. Step 3

    • Select medical or non-medical underwriting option
    • Select critical illness or waiver of premium
    • Select "Better Half" benefit 
    • Pick suitable riders
  4. Step 4

    • Provide the required documents 
    • The company will verify the details and activate the plan thereafter. 

Reasons to Choose the Zindagi Plus Plan

  1. The "Better Half" Benefit

    Edelweiss Life Zindagi Plus's USP is the "Better Half Benefit". This means that a spouse will receive a life insurance policy after the policyholder dies during the policy tenure. This will cover 50% of the policyholder's life coverage, up to Rupees 1 crore. The spouse will not have to pay any premium, and the nominee will also receive the claim amount. The fact that this plan covers housewives makes it unique and worth considering. 

    You can select this benefit at the start of the policy if it fulfills the below criteria:

    • You should accept the standard rates applicable at policy issuance.
    • You both should be married. 
    • There should be a 10-year difference between you and the spouse.
  2. Protection against COVID-19 

    The plan offers a customizable life coverage that protects your spouse against the COVID-19 pandemic. 

  3. Rebates on Extensive Sum Assured

    When it comes to your wife's risk protection, you should not shy away from choosing a higher sum assured. When you do that, you also get rewarded with attractive discounts on premiums.

  4. Non-medical Underwriting

    If your wife is ill or needs any medical tests, this plan covers those expenses. You can select a non-medical underwriting status of a Sum Assured up to Rs 99,99,000.

Benefits of Edelweiss Term Plan For Housewives

  1. Waiver of Premium 

    This plan will be your wife's best friend in case of any health concerns and even critical illness. Even you don't have to worry about paying premiums in your difficult times if you're diagnosed with any of the 35 critical illnesses listed below:

    • Open Heart Replacement or Repair of Heart Valves
    • Primary Pulmonary (idiopathic) Hypertension
    • Major Head Trauma
    • Apallic Syndrome
    • End-Stage Lung Failure
    • Stroke resulting in permanent symptoms
    • Loss of Speech
    • Creutzfeldt-Jacob Disease
    • Bacterial Meningitis
    • Multiple Sclerosis with Persisting Symptoms
    • Poliomyelitis
    • Loss of Independent Existence
    • Rheumatoid arthritis
    • Loss of Limbs
    • Systemic lupus Erythematosus with Renal Involvement
    • Encephalitis
    • Parkinson’s Disease
    • Muscular Dystrophy
    • Aplastic Anemia
    • Third Degree Burns
    • Deafness
    • Motor Neuron Disease with Permanent Symptoms
    • Kidney Failure Requiring Regular Dialysis
    • Benign Brain Tumor
    • Major Organ/ Bone Marrow Transplant
    • Permanent Paralysis of Limbs
    • Coma of specified Severity
    • Open Chest CABG
    • Surgery to Aorta
    • Cancer of specified severity Cancer
    • Blindness
    • Alzheimer’s Disease
    • Myocardial Infarction (First Heart Attack – of Specified Severity)
    • Cardiomyopathy
    • End-Stage Liver Failure
  2. Extended Premium Payment

    You can either pay the premiums till 60 years or till the policy tenure - it's up to you. This means the policy will be in effect for a long tenure, this protecting your wife for many years to come!

  3. Tax Benefits

    You can save on taxes by purchasing this term insurance policy under sections 10(10D) & 80(C) of the Income Tax Act 1961. 

    • Section 80C: A term insurance plan's premium is tax-deductible up until Rs1.5 lakh yearly.
    • Section 10(10D): The death benefit is exempt from tax but subject to certain conditions.
  4. Riders for added protection

    Term insurance provides many other benefits than life protection. You can add riders like a critical disease rider or an accidental death benefit rider to your term insurance policy. Housewives can be protected against medical costs by using riders like the critical illness benefit. The family can also benefit from the services of other riders, such as higher payouts, etc.

    You can take the following riders under the Edelweiss Life Zindagi Plus Plan:

    • Hospital Cash Benefit Rider
    • Accidental Total and Permanent Disability Rider
    • Critical Illness Rider
    • Accidental Death Benefit Rider a

Age Limits to Avail the Better-Half Benefit

Your spouse needs to be at least 18 years of age. However, this can differ based on your plan. The various factors are as follows:

  • Life Cover with Decreasing Sum Assured & Regular Pay - 55 years.
  • Life Cover with Level Sum Assured & Regular Pay - 60 years.
  • Life Cover with Decreasing Assured & 'Pay Till 60' Payment Option - 50 years.
  • Life Cover with Level Sum Assured and 'Pay Till 60' Payment Option - 50 years.

Wrapping Up

Housewives can benefit in many ways from a term plan. Edelweiss Term Plan for Housewife can ensure that your family is at least able to recover financially from your wife’s unfortunate demise, if not emotionally. Although no one can replace a loved one, financial assistance can make the process easier and more manageable over time. The sum assured amount can help children reach their goals and settle down, and housewives can leave a lasting legacy for their children.

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Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in



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