Limited pay for an unlimited future with Edelweiss Tokio Life – Total Protect Plus
12 Dec 2021
People’s dreams and aspirations are changing at a fast pace. From the conservationist attitude towards money management to a consumption attitude, people’s buying habits have transformed massively. People now prioritize experiences like exploring new places, developing their interests, and are increasingly now striving for early retirement. Quite naturally then, they want financial responsibilities that are short-lived and do not stand in the way of their life aspirations. While customer behaviour is undergoing this change, uncertain circumstances continue to pose a grave risk. The need of the hour, therefore, is a term insurance solution that can match people’s ever-changing goals but also safeguards their loved ones from situations that create financial instability.
Edelweiss Tokio Life understands this change in customer needs and has crafted a multi-faceted term insurance plan - Edelweiss Tokio Life - Total Protect Plus. This is a comprehensive protection plan that offers a life cover and brings optional benefits to the table to meet goal-linked financial requirements. It is an all-encompassing life insurance solution that empowers people by securing financial risks up to 100 years of age. Calculate your plan premium here.
In the present day, people want to rest easy and enjoy the benefits of their work life. With this plan, people get to make the most out of the ‘Limited Pay’ feature. They can pay premiums well within their working years and move towards a secure future.
Here’s how the ‘Limited Pay’ feature works well for people’s benefits:
➤ In contemporary times, people are choosing dynamic careers. Due to such choices, they are even starting their families much later than sooner. By opting for this option, they can pay their premiums within a time frame comfortable for them and stay protected in the face of life’s uncertainties.
➤ With the desire and expectation to constantly improve living standards, associated expenditure of individuals is bound to rise year on year and committing to paying a fixed sum every year till the end of policy term may not be the wisest thing to do. Limited pay provides the policyholder with the option to pay his/her premiums in 5,7,10,15,20 years depending on his/her financial condition. With limited pay, the solution becomes more cost-effective when compared to a regular pay plan that offers a similar cover.
➤ At times people tend to forget their premium payments in spite of regular follow-up’s from their insurers and therefore run the risk of a policy lapse. When they choose the ‘Limited Pay’ option, they can pay their premiums within a shorter duration and not lose uninterrupted coverage in times of need.
➤ The feature of ‘Limited Pay’ also works well for individuals who are in short-spanned careers. For such people, long-term premium commitments might be a hassle, and with this choice, they can get the coverage they want without the risk of defaulting on their premiums.
Some other advantages of the Edelweiss Tokio Life Total Protect Plus include:
➤ The plan has been conceptualized in such a way that it takes care of the protection needs of individuals, their spouse, and children, all in a single plan. So, one need not buy several plans for different family members and then also keep money aside for several other expenses. People can also opt for coverage till they are 100 years of age. This gives them and their family a longer financial cushion.
➤ The plan is equipped with ‘ChildFuture Protect Benefit’ wherein the person can get an additional sum assured until their child reaches twenty-five years of age. And with the ‘Better Half Benefit’, in case of the policyholder’s demise, a life cover starts on their spouse’s life with future premiums waived off. This option is available when the base sum assured is greater than or equal to Rs. 50,00,000. This can be availed at a nominal premium. An individual can opt for both of these additional benefits in the plan.
➤ The plan is also equipped with the following five riders:
a) Critical Illness Rider
b) Accidental Death Benefit Rider
c) Accidental Total & Permanent Disability Rider
d)Hospital Cash Benefit Rider
e) Waiver of premium on Critical Illness Rider
➤ If the individual also completes their medical examinations within the first seven days of purchase, a 6% discount is applicable on the first-year premium.
People believe in the maxim of living life to the fullest. While it is incredible to fulfill aspirations and experience adventure, people must create ‘Total’ protection for their loved ones. This term plan checks all the right boxes, and the all-around protection with ‘limited pay’ is just one of the many benefits.