Edelweiss Tokyo Life with comprehensive insurance to ensure financial security
5 August 2021
Addressing an emerging need for a one-stop protection solution amid a global pandemic, Edelweiss Tokio Life Insurance announced the launch of Total Protect Plus, a comprehensive protection plan that offers additional optional benefits to meet goal-linked financial requirements. Through Child’s Future Protect benefit, a parent can opt for an enhanced cover during their child’s growing years to ensure their aspirations are uncompromised. In case the insured parent dies before the child turns 25 years of age, an additional payout is made to the nominee. Through the Live Long benefit, which is a survival benefit, this plan offers protection and an income benefit that begins during non-working years. An individual can choose either 60 years or 65 years as the commencement age, following which they receive an income equal to a certain percentage of the base sum assured. Commenting on the new product, Subhrajit Mukhopadhyay, Executive Director, Edelweiss Tokio Life Insurance, said that there has been a growing clamour for insurance solutions that are over the last decade all-encompassing and comprehensive in securing financial risks. The pandemic has brought this need into the spotlight. With Total Protect Plus, they hope to provide an inclusive solution to manage customers’ risk and addresses financial needs for all their goals. 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, they 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.