Offers 5 pay-5 stay option for short-term goals, option to covers up to 100 years in the long-term
MUMBAI, Jan. 23, 2020 /PRNewswire/ -- Keeping with its commitment to innovate, Edelweiss Tokio Life Insurance has unveiled another comprehensive unit linked insurance plan (Ulip) called Wealth Secure+, which offers flexibility, no premium allocation charges, and means to meet both short-term, and long-term financial goals.
Co-created with Policybazaar, Wealth Secure+ leverages customer customization to cater to diverse and dynamic customer needs. Its unique proposition is the 5 pay-5 stay option, allowing a customer to stay invested for 5 years only and then opt out. The product also offers a whole-life option, providing a life cover for up to 100 years.
Anup Seth, Chief Retail Officer, Edelweiss Tokio Life Insurance, said, "Life goals change as we grow and achieve certain milestones. Traditionally, customers have had to buy another insurance plan that better complements their growing needs, instead of having one product that can meet all needs. Our endeavour has always been to create products that stays relevant and serves customer needs, today or in the future. With Wealth Secure+, we aim to help our customers save and reach their goals by adapting to life-changing events in their lives."
Wealth Secure+ offers protection throughout customer's lifetime. A customer can upgrade their plan as and when they cross certain life events like marriage or childbirth.
Santosh Agarwal, Chief Business Officer, Life Insurance, Policybazaar.com, said, "Wealth Secure+ is an innovative investment product, suitable for today's digital customer that expects customisation, agility, and cost effectiveness. Built to meet customers' evolving needs, this product will enable a financial savvy customer address his varied goals through a single tool."
Whether it is taking care of immediate goals, creating wealth for the future, planning retirement, or securing ones family, Edelweiss Tokio Life's Wealth Secure+ provides a bouquet of options to meet the changing financial goals at various life stages.
Wealth Secure+ - Key Highlights:
- Low Premium: The plan can be availed at just â‚¹1000 per month
- 5 pay - 5 stay: This option allows the customer to opt for a policy term of 5 years for short-term requirements
- Whole Life Option: It also provides an option to stay protected for 99 years
- Systematic Withdrawal Plan: This option facilitates the automated partial withdrawal
- Flexibility: As per changing life events, this product covers customers, their spouse, and provides financial protection to their child in case of an unfortunate event
- No premium allocation charges
- Tax Benefits: Helps one to reduce their current tax liability under Sec 80C and also enjoy tax-free returns
About Edelweiss Tokio Life Insurance
Edelweiss Tokio Life Insurance Company Limited is a joint venture between Edelweiss Financial Services Limited, one of India's leading and diversified financial services companies and Tokio Marine Holdings Inc, one of the oldest (over 138 years) and largest insurance companies in Japan. Edelweiss Tokio Life Insurance launched its pan-India operations in July 2011, offering proprietary need-based solutions to help customers meet their life stage financial goals. This lineage brings together a deep understanding of customer needs and international expertise. The company is headquartered in Mumbai serving over 2.02 lakh customers through 43,681 personal finance advisors as on March 31, 2019 across 121 branches in 93 major cities.
Edelweiss Tokio Life Insurance has been consistently recognized for its Product Innovation capabilities at several forums, namely Golden Peacock Awards 2018, Golden Globe Tigers Awards 2018, ET NOW - BFSI Awards 2018, Times National Award for Marketing Excellence 2018, India Insurance Summit 2019 and Skoch Awards 2019.
To learn more about Edelweiss Tokio Life Insurance, please visit www.edelweisstokio.in
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Policybazaar.com is India's largest insurance marketplace. It has backing from a host of investors including the likes of Soft Bank, InfoEdge (Naukri.com), Temasek, Tiger Global Management, True North, Premji Invest, besides investments from other PE funds and family offices. The portal started with a purpose to educate people on insurance products and has had a significant influence on how insurance is bought in India. It has helped in driving penetration of pure life insurance, health insurance, and such products which were barely bought earlier.
From receiving traffic of 180,000 visitors in 2008, Policybazaar.com has come a long way and today hosts over 150 million visitors yearly and records sale of nearly 10,00,000 transactions a month. Currently, Policybazaar.com accounts for nearly 25% of India's life cover, and over 7% of India's retail health business. It accounts for roughly half of all internet-based insurance purchase in the country and is more than doubling annually.
We have received several accolades in India and globally. The most noteworthy being recognized as India's top and world's leading "Fin Tech Innovator" by the Global consultancy firm, KPMG and venture capital fund, H2 Ventures thrice since 2015, and winning The Digital Insurer 'Global Livefest' Award for insurance innovation at the global level in 2018. We have won a range of awards in the last couple of years, many of them consecutively. These include The Financial Express "Best Fintech Marketplace", Internet & Mobile Association of India (IAMAI) Digital India Award for "Best Financial Website" & "Most Innovating Insurance Service", IDC Iconic Award for "Tech Implementation leading to Operational Excellence", to name a few.
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