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Combo plans or specific insurance plans – a comparison

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June 18, 2018

Financial strength and stability is one of the core aspects of human life and it includes not just monetary resources but also the stability of those resources. In these times, where on one hand there has been a general increase in life expectancy, there has been a parallel rise in uncertainty factors as well. The overall lifestyle changes and unhealthy living conditions have complicated the problem more and with the rising quality of life, the medical bills have become a major headache for families. Perpetual financial worries often takea serious toll as well. In such times, when the cost of living is booming day by day, ensuring a stable income for us and our loved ones is a real concern. 

Being insured protects your finances from any unforeseen situation and the benefits of an insurance policy are allotted to your loved ones, even after you are gone. Taking out an insurance policy is a very important step that you must take for your fiscal health. However, taking out a general insurance policy is not the ultimate answer to your financial questions. A general policy comes with terms and conditions that may not be as helpful as specific policies. For instance, a cancer-specific policy offers much more than a general health insurance scheme, covering the expenses from the detection stage to final recuperation and recovery. Similarly, a specific plan for women will entitle you to comparatively more benefits than an overall general plan. 

On the same theme, the importance of plans for retirement can never be understated and there are plans that ensure a stable income after retirement and also the schemes for investing in a specific goal or event. Then there are the combo plans i.e., plans that cover a specific eventualities and also provide a general cover. For instance, there are combo plans for covering a critical illness and at the same time providing generic life insurance benefits. 

Taking into account the importance of parallel investment and insurance, you can also check the dual plans that offer insurance as well as investment benefits. In a nutshell, choosing any specific plan is an important act and must be done, keeping in mind the pointed details regarding your precise needs for the current as well as futuristic projection.

HDFC Life offers several cardiac care/cancer care specific as well as combo plans that have a wide range of premium benefits. You can also click on the "Help me decide" tab for detailed assistance.

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Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

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Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

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