A Customer Focussed Life Insurance Plan – Zindagi Plus

We, at Edelweiss Tokio Life Insurance, always strive to offer the best of Life Insurance Plans to suit the real need of our customers. Our new plan Edelweiss Tokio Life – Zindagi Plus is another outcome of such customer focused thinking.

This is a unique plan caters to your family need of protection. This one policy can offer multiple options and benefits to the family members of the insured. This is a term policy which can be customized to suit your requirements. This policy continues even after the death of the insured. This policy lessens the burden in case of critical illness.

Excited to know the key features and how it benefits you? Here is an overall view of the policy benefits.

Once you choose your policy amount, tenure, and premium paying frequency, the policy offers various optional additional benefits.

Your optional benefit 1:

Top up benefits.

Under this benefit, you can start small and built as you age. For any policy above Rs.50,00,000/-, an insured can opt for top-up option.

This could be 5% or 10% as selected by the insured.

For example, for 10% option, the policy starts with Rs.50,00,000/- and every year 10% is added to the policy amount. After one year it becomes Rs.55,00,000/- and after 2nd year it becomes Rs.60,00,000/-. The premium amount increases but risk cover also increases as you age.

It can be continued until any of the following is first achieved.

• The base amount is doubled. So under the 10% option for 10 years and under the 5% option for 20 years. Thereafter the increased policy will continue till the maturity. Under the above example policy at the end of 10 years will become Rs.1,00,00,000/-.
• Insured attains the age of 60
• Outstanding policy term is less than 5 years
• Death of the insured.

This option can be stopped anytime during the policy tenure.

This is a good way to increase the policy amount as you age and the risk of death increases.

Your optional benefit 2:

Life stage benefit.

This is another way to cover additional risk in the policy without any medical examination. Here again, you can start with a smaller policy and increase the value as the responsibility increases.

Under this option if the base policy amount is Rs.50,00,000/- or more, you have an option to add an additional amount at the following stage of the life:

• 1st Marriage of the insured – 50% of the base policy
• Birth of the first child – 25% of the base policy
• Birth of the second child – 25% of the base policy
• Home loan availed after the risk commencement date – 50% of the base policy or the loan amount lower of the two.

Rs. 50,00,000/- policy can become Rs. 75,00,000/- on the wedding of the insured

Another Rs, 12,50,000/- each are added on the birth of both children.

So after the birth of the 2nd child, policy amount becomes Rs,1,00,00,000/-

Now you decide to take home loan of Rs. 30,00,000/- . Then again 50% of the base some i.e Rs.25,00,000/- will be added to the policy amount. At this stage, the policy amount will be Rs,1,25,00,000/-.

A base policy of Rs.50,00,000.- can go up to Rs,1,25,00,000/- if all the life stage increases are opted. Of course, there will be an additional premium but there won’t be any medical examination if the original policy is issued at the standard rate.

This one policy can take care of your additional risk coverage at different stages of life.

Your optional benefit 3:

Better half benefit.

This is one more unique feature.

Under this option after the death of the insured, the policy continues. This way it helps your children if something happens to your spouse after your demise.

Usually, you take policy in the name of the bread earner. Non-working housewives are generally uninsured. This option insures them when you want it the most.

Any policy above Rs.50,00,000/- this option can be selected by the insured. This option is available if;

• The age difference between the life insured and spouse is 10 years or less
• The policy is accepted at the standard rate
• The life insured dies, the spouse is alive and the policy is in force.

Under this option, the spouse gets an insurance of 50% of the base policy. Premium payable for the remaining tenure is waived on the death of the insured.

The amount to the spouse is not payable if:

• Both the insured and the spouse die simultaneously.
• The spouse has attained the age of 75 years at the time of the death of the insured.
• Spouse dies of suicide within 12 months of the death of the insured.

This option is apt for the young couple who really needs risk protection for the spouse and young children.

Your optional benefit 4:

Waiver of premium benefit.

Under this unique option, all the entire future premiums are waived if the insured is diagnosed with the select critical illness. All the policy benefit will continue.

This option is applicable in case of the diagnosis of critical illness and survival for 30 days post the diagnosis.

However, this option is not available if during the waiting period i.e. 90 days from the issue of the policy, any critical illness of which the signs or symptoms have occurred or for which care, treatment or advice was recommended by or received from a Physician, or which first manifested itself or was contracted.

These are four unique benefits specially designed keeping in mind the risk coverage requirements of the family. Your life uncertain and therefore, our well-thought-out options can take care of your requirements.

Death Benefits:

In case the insured person dies during the policy tenure death benefit is given as per the option selected at the beginning by the insured.

• One time lump-sum money or
• Monthly Income. This is based on a percentage of policy amount and as per the tenure selected i.e. for 3 years to 15 years.

To sum up; this is a customizable plan caters to the specific life stages need of the policyholders.

Our consistent customer focus has been recognized by the industry. We are happy to state about our winning of the best product innovation Golden Globe Tigers Award 2018.

This is our unique new plan. Click here to know more about this innovative product. If you want to know the quote and buy the policy; click here.

 

Aastha Mestry - Portfolio Manager          

An Author and a Full-Time Portfolio Manager, Aastha has 6 years of experience working in the Insurance Industry with businesses globally. With a profound interest in traveling, Aastha also loves to blog in her free time.