Standalone products can offer more comprehensive coverage than bundled ones

Sometimes, the free personal accident cover makes a payout only in case of death due to accident and not in case of a permanent disability. This significantly reduces its usefulness

ICICI Bank recently offered a complimentary critical illness cover of Rs 1,00,000 from ICICI Lombard General Insurance to its customers if they open a fixed deposit of Rs 2-3 lakh for at least two years. Customers aged between 18 and 50 will enjoy this cover on 33 critical illnesses. Sounds good? It does. Many more products offer complimentary insurance. Credit card and savings account holders get bundled personal accident covers. Some mutual fund houses offer life insurance if you start a systematic investment plan (SIP) for the long-term.

Should one go for these products just because they come with free insurance?