Kathmandu. Rising living costs, uncertain incomes, and emergent health risks have led to significant changes in the financial outlook of Nepali households in recent years.

In the past, life insurance was seen only as a risk cover, but now it is seen as a combination of long-term savings, financial discipline and emergency protection.

Amidst the changing needs, there is a growing attraction towards plans like Sun Life Term Life Insurance and Sun Medicare in the insurance market. According to insurance industry experts, the combination of these two schemes will address both long-term life plan and contingency risk, which is increasing customer confidence.

{{TAG_OPEN_strong_26}Saving and Security in the same scheme

Sun Life Term Insurance Plan is a non-profit term insurance plan. This provides the insured with risk protection throughout the term of the policy and at the end of the term of the policy, the sum assured along with the bonus earned as per the rules. This ensures that the family is protected in the event of risk and the capital to meet future goals.

According to experts, the provision of paying regular premiums throughout the insurance period will develop the discipline of savings and lay the groundwork for managing goals such as education expenses, building a house, expanding a business or managing life after retirement. This scheme is becoming popular among long-term thinking middle-class families and young professionals.

The role of Medicare for health risks

The Sun Medicare rider facility is beginning to play an important role in addressing emergency health emergencies, another important aspect of economic planning. The scheme provides for immediate payment in case of emergency surgery, accident or critical illness hospitalization based on the duration of hospital stay.

The insurance company claims that this facility will provide immediate financial relief to the family in case of emergency. According to insurance experts, such a structure will help to focus only on treatment rather than covering the cost of treatment during a health crisis.

Dual requirement, same approach

According to experts, the combination of term life insurance and Medicare combines both long-term financial goals and short-term contingency risks. Medicare provides immediate protection against unforeseen health risks while laying the groundwork for securing the future with life insurance.

Amid rising inflation and precarious lifestyles, there seems to be a growing tendency to view insurance as an integral part of economic strategy, not just a legal formality. In this context, analysts say that this attraction towards balanced insurance solutions is indicative of the changing reality of the insurance market in Nepal.

The details, terms of service and updates of the scheme will be made available through the company’s official website and official WhatsApp.