Add-ons may make term plans complex

When it comes to life insurance, Mint has always vouched for term insurance plans, the simplest and cheapest covers available. However, in order to have a unique selling point, these days insurers are trying to make even their term insurance offerings more comprehensive and customized by offering add-ons such as a cover for terminal illnesses and accidental disability. But add-ons only make term plans more complicated for the buyers and may not always work. Such customization may, in fact, defeat the very idea of keeping life insurance simple.

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