My Life Plus online term insurance policy with affordable premium

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An Affordable Term Plan With a Long Life Cover

Edelweiss Tokio Life – MyLife+ is an online term insurance plan that provides life cover upto the ripe age of 80 at an affordable rate. It is a protection plan that will secure your family’s future in your absence. The death benefit is provided in three payout options – lumpsum, monthly or a combination of both.
A lumpsum payout option helps in paying immediate expenses whereas monthly payout option can be considered as a monthly income to meet your household expenses in your absence.
UIN No: 147N027V02

Lets look at the case of Vinay.


    Vinay is quite a laid back guy. Planning way in advance for the future is not something that comes naturally to Vinay. However, after marriage, he is trying to be more responsible towards his family and is looking for a term plan that fits his beliefs and needs.

    Given his attitude, his skepticism towards going for an all-inclusive plan with too many benefits for his future is not surprising. That’s why his friend Tushar thought that it would be more advisable for Vinay to go for Edelweiss Tokio Life – My Life+.

    This term plan is affordable and covers the basic and most crucial needs of the main earning member; financial security of the family. Edelweiss Tokio Life – MyLife+ was a plan that did not seem like an unnecessary expense to Vinay. He found it to be very affordable and that’s why he bought it.

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Benefits so good, they have to be true!

Payout Flexibility (Lump-sum) Benefit Option

Payout Flexibility (Lump-sum) Benefit Option

We understand that your nominee's needs can change at any point. Keeping this in mind during the playout period, if the nominee wishes to receive a lumpsum amount instead of staggered payments then the remaining future monthly pay-outs, discounted at the rate of 5.25% per annum, will be paid as lumpsum immediately.

Payout Flexibility (Lump-sum) Benefit Option

During the payout period, if the nominee can switch from monthly to lumpsum payout

Payout Flexibility (Lump-sum) Benefit Option

Payout Flexibility (Lump-sum) Benefit Option

We understand that your nominee's needs can change at any point. Keeping this in mind during the playout period, if the nominee wishes to receive a lumpsum amount instead of staggered payments then the remaining future monthly pay-outs, discounted at the rate of 5.25% per annum, will be paid as lumpsum immediately.

Income benefit option

We provide you the option to chose a staggered payout

Income benefit option

Income benefit option

It's possible your nominee may not know what to do with a lumpsum amount. With the income beenfit option, 1% of sum assured will be paid every month for the next 130 months starting from the next monthiversary of the date of death.

Tax Benefits

Get tax exemptions on your premiums and life cover amount

Tax Benefits

Tax Benefits

We all strive to save as much tax as we can. With Edelweiss Tokio Life - MyLife+ your premiums are exempt from tax under section 80(C) upto Rs.1,50,000. Even the sum assured amount is exempt from tax under section 10(10D). Tax benefits are subject to changes in the tax laws.

Payout Options

We provide you the option to choose if you want payout as lump sum, income or a combination of two.

Payout Options

Payout Options

You can choose if you want payout as lump sum, income or a combination of two.

In lump sum option, amount equal to the sum assured will be paid on death of life assured.

Under income benefit option, 1% of sum assured will be paid every month for the next 130 months from the month of death.

Policyholder can also opt for a combination of the above two options.

Long Life Cover

We provide life cover term till the age of 80 years.

Long Life Cover

Long Life Cover

Long life cover is a must these days. With Edelweiss Tokio Life - MyLife+ we provide you the option to select life cover till the age of 80 at an affordable rate

Check if you are eligible for this product

Here are the rules! Ask us if any doubts.

What is mode of Premium Payment Frequency?
The Premium Payment Freq...

The mode of Premium Payment Frequency is Annual 

What is the premium paying term?
The premium payin...

The premium paying term option is Regular pay 

What is the minimum premium?
the minimum premium is...

Minimum Premium# is Rs 2,500 

# As per Service Tax law, service tax and education cess will be separately levied on the premium.

What is the minimum and maximum policy term?
The minimum and maxi...

10, 15, 20, 25, 30, 35,40 and (80 minus entry age) 

What is the maximum maturity age?
The maxi...

Maximum Maturity age (last birthday) is 80 years

What is the minimum and maximum sum assured ?
The sun assured is...

Minimum : Rs 25,00,000 

Maximum : no limit

(Subject to underwriting)

What is the minimum and maximum entry age?
The minimum and maxi...

Entry age (last birthday)

Minimum : 18 years

Maximum : 60 years

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Additional resources

Product brochure view & download pdf
Sample contract view & download pdf
Product disclaimer read more