Edelweiss Tokio Life Insurance launches ‘Wealth Plus’ Plan
4 November 2017
Key Highlights
- Additional units added to the plan during the premium payment term which further enhances the Fund Value.
- No Premium Allocation & Policy Administration Charges
- Rising Star additional benefit, helps secure child’s future
Edelweiss Tokio Life Insurance, a joint venture between the Edelweiss Group and Tokio Marine Holdings of Japan, today launched Edelweiss Tokio Life Wealth Plus - a first of its kind Unit-Linked Insurance Plan.
Edelweiss Tokio Life - Wealth Plus is a futuristic plan catering to digitally savvy customers where the insurer has not only done away with premium allocation and policy administration charges, but furthermore contributes additional units on every premium paid by the customer. These additional allocations start at 1% for the first five years and then increase every five years to 3%, 5% & 7% thereby accelerating one’s wealth accumulation, while also offering protection at the same time.
“Basis feedback from our customers we coevolved the product along with PolicyBazaar to cater to their stated needs of protection and growth,” said Deepak Mittal, MD & CEO, Edelweiss Tokio Life. “Edelweiss Tokio Life - Wealth Plus is an industry-first product aimed at wealth creation where longer the policyholder invests, the more we contribute in his fund,” he added
Yashish Dahiya, CEO & Co-Founder of PolicyBazaar.com says; “Wealth Plus offered by Edelweiss Tokio Life is an innovative investment product for customers’ insurance needs. The product has been conceptualized basis customer feedback & designed keeping digital customers at the centre; who are financially savvy demanding competitive & differentiated products to lead a progressive lifestyle.”
Edelweiss Tokio Life - Wealth Plus also offers an additional option - the Rising Star benefit wherein a lumpsum amount will immediately be paid to the family in the event of demise. Furthermore, all future premiums (if any) will immediately get invested into the fund allowing the corpus to grow faster thereby ensuring that the child’s future is protected.
Whether it is taking care of the family’s future wealth, saving for retirement, family protection or any other important milestone, Edelweiss Tokio Life - Wealth Plus helps in taking care of one’s financial goals at various life stages.
About Edelweiss Tokio Life Insurance
Edelweiss Tokio Life Insurance Company Limited (‘the Company’), registered with Insurance Regulatory and Development Authority of India (Regn. no. 147), is a joint venture between Edelweiss Financial Services Limited and Tokio Marine Fire Nichido Insurance Company Limited (a Japan based company), having a shareholding of 51% and 49% respectively in the Company. This lineage brings together a deep understanding of customer needs and international expertise. The Company offers proprietary need-based solutions to help customers meet their life stage financial goals.
- Edelweiss Tokio Life Insurance Company Limited won the “Best Product Innovation” title by Fintelekt Insurance Awards 2017 & National Award for Excellence in Insurance 2017
- Edelweiss Tokio Life Insurance Company Limited was recognised as “Best Life Insurer of the Year” by Outlook Money Awards 2016.
To learn more about Edelweiss Tokio Life Insurance, please visit www.edelweisstokio.in
To learn more about the Tokio Marine Holdings Inc., please visit www.tokiomarinehd.com/en
About PolicyBazaar.com
PolicyBazaar is India's largest insurance marketplace and is an InfoEdge (Naukri.com), Inventus Capital, Tiger Global Management, Steadview Capital, Premji Invest, Temasek and Ribbit Capital Investee Company. 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 80 million visitors yearly and records sale of nearly 150,000 transactions a month. Currently, PolicyBazaar.com accounts for nearly 20% 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.
The company has 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 for 2015 & 2016. It has won a range of awards, including The Financial Express “Best Fintech Marketplace”, The Economic Times “Best Corporate Brand”, Internet & Mobile Association of India (IAMAI) “Best Financial Website” for two years, Exchange4Media “E-commerce Marketing Campaign” and BML Munjal Award for “Excellence in Learning & Development” among the most notable ones in the last couple of years.
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