Edelweiss Tokio Life launches ‘Edelweiss Tokio Life – MyLife+
23 December 2014
An online term plan that offers cover up to the age of 80 years
- Term Insurance for up to 80 years of age, highest in the Industry
- More payout options – as a lump sum or as a monthly benefit or combination of both so that it is easier for your family to manage the benefit amount
- More protection options through addition of accidental death, disability and waiver of premium riders
- INR 1 Crore cover at just INR 5562 (computed for 25 year old healthy male for a term of 25 years)
Edelweiss Tokio Life Insurance, an Edelweiss Financial Services Group Company, today launched Edelweiss Tokio Life – MyLife+, an online term plan that covers your life and provides security to your family. It provides a great opportunity to secure one’s family in a comprehensive manner with a choice of payout options, riders and for longer term period. Edelweiss Tokio Life – MyLife+ is being offered exclusively online and hence one can choose to protect the family from the comfort of one’s home.
The minimum entry age for the policy is 18 years and the product offers two death benefit options; Lump-sum benefit option and Income benefit option. One can choose between a combination of both the options as well, depending on the family’s need, level of financial literacy & stage of life.
Therefore the kind of benefits that one could avail are as follows:
Lump-sum benefit option: Under this option, a lump-sum benefit equal to the sum assured will be paid on death of the life insured and policy will terminate.
Income benefit option: Under this option, 1% of sum assured will be paid every month for the next 130 months starting from next month from the date of death.
A combination of both the lump-sum benefit and the income-benefit.
Commenting on the launch of the product, Mr. Deepak Mittal, MD & CEO, Edelweiss Tokio Life said, “At Edelweiss Tokio Life customer needs are always at the forefront of new product development. In the case of Edelweiss Tokio Life – My Life+, two key needs that were identified were – a need for longer term period and the choice of payout options that best suits their families. The need therefore was the creation of a term plan which offers customers the choice of a payout option – monthly, annual or a combination of both. One also has the option to select the term period up to the age of 80 years; the highest in the industry. Edelweiss Tokio Life -My Life+ is competitively priced, a cover of INR 1 Crore and available to a 25 year old non-smoker male for a term of 25 years at an annual premium of just INR 5562. We believe that this product will change the dynamics of buying online insurance in the country”
About Edelweiss Tokio Life Insurance
Edelweiss Tokio Life, a life insurance company, is a joint venture between Edelweiss Financial Services, one of India’s leading diversified Financial Services companies and Tokio Marine Holdings Inc. a global leader with over 135 years of experience in the insurance business. This lineage brings together Edelweiss Group’s deep understanding of the Indian customers and Tokio Life’s international benchmarks .The company’s approach is to help its customers meet their life-stage financial goals by providing them innovative insurance products that have been designed with the needs of the Indian customers in mind.
Edelweiss Tokio Life Insurance is expanding its presence in a phased manner. The company is now present in Maharashtra, Gujarat, Delhi, NCR, Chandigarh, Punjab, Haryana, Goa, Karnataka, Andhra Pradesh, Jharkhand, West Bengal, Orissa, Bihar, Himachal Pradesh, Madhya Pradesh; Uttar Pradesh and Rajasthan with 59 branches pan India.
Edelweiss Tokio Life Insurance has engaged a team of professional Personal Finance Advisors (PFAs) who are trained to adopt the customer centric selling model and recommend products only after understanding and analyzing customer needs.
To learn more about Edelweiss Tokio Life Insurance, please visit www.edelweisstokio.in
To learn more about the Edelweiss Group, please visit www.edelweissfin.com
To learn more about the Tokio Marine Holdings Inc, please visit www.tokiomarinehd.com/en
George Koshy Edelweiss Financial Services Ltd Handphone: +919819808042 Tel: +91 22 4088 5803 E‐mail: george.koshy@edelweissfin.com | Sporshita Goswami Perfect Relations Handphone: +91 9920883234 Tel: 91-22-24337600 |
how this development is to be viewed especially from potential FDI flow.
- It is positive and shows strong government intent to see the Insurance Reforms through
- Actual FDI flows will depend upon
“The passing of the ordinance is definitely a positive step and shows strong government intent for insurance reforms. However, actual FDI flows will depend on the legal technicalities of Ordinance versus Bill and the FIPB process. For an industry that has a large 'on ground' infrastructure that combines branches, employees as well as agents at the grass root level, this could be the big 'shot in the arm' for the financial inclusion steps that the government has been driving”
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