Edelweiss Tokio Life launches Total Protect Plus – Check features
3 August 2021
Edelweiss Tokio Life Insurance today launched Total Protect Plus, a complete protection program that gives further optional rewards to meet aim-linked economic needs.
Among its optional offerings are Child's Future Protect and Live Long rewards. Through the Child's Future Protect advantage of the program, a parent will be in a position to opt for an enhanced cover through their child's developing years. In case the insured parent dies just before the youngster turns 25 years of age, an further payout is made to the nominee.
Through the Live Long advantage of the program, which is a survival advantage, the program gives the policyholder protection, along with an revenue advantage that starts through the policyholder's non-working years. An person can pick out either 60 years or 65 years as the commencement age, following which they obtain an revenue equal to a particular percentage of the base sum assured.
Subhrajit Mukhopadhyay, Executive Director, Edelweiss Tokio Life Insurance says, Over the last decade, there has been a growing clamour for insurance solutions that are all-encompassing and comprehensive in securing financial risks. The pandemic has brought this need into the spotlight. With Total Protect Plus, we hope to provide an inclusive solution to manage customers' risk and addresses financial needs for all their goals.
He additional adds, There is a higher awareness now for goal-based financial planning, wherein retirement and pure protection occupy a bigger mind space among customers. When designing products, we endeavour to offer the best value proposition that addresses the existing need gap, be it in terms of a new product or the way existing solutions are offered in the market space.
Some of the essential things of the Total Protect Plus protection program
- Offers a cover till one hundred years of age, permitting folks to leave behind a legacy to their loved ones.
- An optional Better Half Benefit, which gives a cover to the policyholder spouse post his/her death.
- An optional Return of Premium advantage permits the policyholder to get one hundred per cent of total paid premiums back when the policy matures.
- Offers the alternative of either standard spend or restricted spend of premiums for 5 / 7/ 10/ 15/ 20 years.
- Offers 6 per cent discount on the initial-year premium if medicals are completed inside 7 days of buy.