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Edelweiss Tokio Life launches 'Edelweiss Tokio Life-MyLife+'

India Blooms News Service | 24 Dec 2014, 01:22 am
New Delhi, Dec 23 (IBNS): Edelweiss Tokio Life Insurance, an Edelweiss Financial Services Group Company, on Tuesday launched Edelweiss Tokio Life-MyLife+, an online term plan that covers one's life and provides security to family.
The minimum entry age for the policy is 18 years and the product offers two death benefit options; Lump-sum benefit option and Income benefit option. One can choose between a combination of both the options as well, depending on the family’s need, level of financial literacy & stage of life. 
Therefore the kind of benefits that one could avail are as follows:
Lump-sum benefit option: Under this option, a lump-sum benefit equal to the sum assured will be paid on death of the life insured and policy will terminate.
Income benefit option: Under this option, 1% of sum assured will be paid every month for the next 130 months starting from next month from the date of death.
A combination of both the lump-sum benefit and the income-benefit.
Commenting on the launch of the product, Deepak Mittal, MD &CEO, Edelweiss Tokio Life said, “At Edelweiss Tokio Life customer needs are always at the forefront of new product development. In the case of Edelweiss Tokio Life – My Life+, two key needs that were identified were – a need for longer term period and the choice of payout options that best suits their families."
"The need therefore was the creation of a term plan which offers customers the choiceof a payout option – monthly, annual or a combination of both. One also has the option to select the term period up to the age of 80 years; the highest in the industry. Edelweiss Tokio Life -My Life+iscompetitively priced,a cover of INR 1 Crore and available to a 25 year old non-smoker male for a term of 25 years at an annual premium of just INR 5562. We believe that this product will change the dynamics of buying online insurance in the country," Mittal said.

Edelweiss Tokio Life launches 'Edelweiss Tokio Life-MyLife+'

India Blooms News Service
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