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Opinion Required: I have Edeilweiss Tokio Zindagi Plus Term Insurance, does it truly suck?

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16 Oct, 2021 by  Vinayak Jhunjhunwala

I already have ET Zindagi Plus Term Insurance cover of 1Cr that I got at 23 at 8.2K. But now on further research, I am seeing their CSR is really bad. Should I change the policy now to Max Life?

I am 25 Yr Old. Fit and Healthy, non smoking male.

If i should change - Which one would you suggest going for - Max Life vs HDFC Life vs Aditya Birla

Would love to get your feedback.

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2 Answer

20 Oct, 2021
CEO, Insurance Samadhan

Dear Vinayak

My compliment for taking term insurance in young age .

You are already completing 3 years period when a claim can be contested by insurance company as per section 45 of insurance act .

Though CSR of ET is 84 % but continue with them .

After one year , you shall complete 3 year and there will be guaranteed claim settlement in case of any mishap . Moreover , you will continue to enjoy lower premium as ypu began at age 23 .

You are young , god give you long life .


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21 Oct, 2021
Vinayak Jhunjhunwala
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23 Oct, 2021
CEO, Insurance Samadhan

Dear Vinakay

As per section 45 of Insurance Act , a claim in a policy can not be disputed if policy has been active for 3 years . For example , a policy is bought on 1 January 2020 and renewal premoum paid on 1 January 2021 and 2022 then 3 year will complete on 31 dec 2022 . If death happens in January 2023 then this claim can not be disputed and will be paid under all circumstances except in one case where death happens under a criminal action .

Yes , you must add critical illness rider because we all have the risk of death , critical illness . Many times , critically illness is more draining than death .

Hope this clarifies


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