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Edelweiss Tokio Life - My Term+ a Limited Pay Term Insurance Plan

Edelweiss Tokio Life My Term + is a limited pay term life insurance plan. While providing you a life cover, My Term + also provides your spouse an additional life cover with the Better-Half benefit option.

With My Term+ you can choose the premium paying term options of 5, 7, 10, 15 and 20 years. This means that you can pay for 5 years but stay protected until 85 years!

Along with this, you can also choose the Waiver of Premium Rider and Critical Illness Rider to safeguard against critical illnesses.

UIN: 147N063V01


    Vishal is a successful lawyer, a husband and a father of two kids. He had been researching a lot on the right term insurance plan to secure his family’s future and finally zeroed down on Edelweiss Tokio Life – My Term+. 
What made Vishal choose this plan?

    Vishal is a successful lawyer, a husband and a father of two kids. He had been researching a lot on the right term insurance plan to secure his family’s future and finally zeroed down on Edelweiss Tokio Life – My Term+. What made Vishal choose this plan?

    The biggest benefit of the plan is the limited pay feature which meant that Vishal could pay off his insurance premiums within a shorter duration instead of the entire policy term. In short, premium-free and tension-free retired life.

    The biggest benefit of the plan is the limited pay feature which meant that Vishal could pay off his insurance premiums within a shorter duration instead of the entire policy term. In short, premium-free and tension-free retired life.

    The other important reason for choosing this product was the “Better Half Benefit” option which meant that in case of his unfortunate demise, his spouse would get an additional life cover and would not have to pay additional premiums for it.

    The other important reason for choosing this product was the “Better Half Benefit” option which meant that in case of his unfortunate demise, his spouse would get an additional life cover and would not have to pay additional premiums for it.

My Term+ is more than just a Term Plan. Here’s Why

My Term+ is more than just a Term Plan. Here’s Why;

Better Half Benefit

Better Half Benefit

Whether your spouse is employed or a homemaker, they deserve the utmost care. With Edelweiss Tokio Life - Better Half Benefit option, we provide your spouse with an additional life cover in case of your unfortunate demise. This way your children and parents get the enhanced protection they deserve.

The Better Half Benefit option can be selected only at the policy inception for married individuals. The age difference between the life assured and spouse should be less than or equal to 10 years provided that the policy is accepted at standard rates during policy issuance. This additional benefit is available only if the Base Sum Assured is greater than or equal to Rs. 50,00,000. 

Better Half Benefit

Our Flagship feature where we give an additional life cover to your spouse in case of your demise.

Better Half Benefit

Better Half Benefit

Whether your spouse is employed or a homemaker, they deserve the utmost care. With Edelweiss Tokio Life - Better Half Benefit option, we provide your spouse with an additional life cover in case of your unfortunate demise. This way your children and parents get the enhanced protection they deserve.

The Better Half Benefit option can be selected only at the policy inception for married individuals. The age difference between the life assured and spouse should be less than or equal to 10 years provided that the policy is accepted at standard rates during policy issuance. This additional benefit is available only if the Base Sum Assured is greater than or equal to Rs. 50,00,000. 

Limited Pay

With Limited Pay, stay protected till 85 years of age, but pay off your premiums in either 5, 7, 10, 15 or 20 years.

Limited Pay

Limited Pay

Limited Pay gives you the freedom to pay off your premiums within 5, 7, 10, 15 and 20 years. One can take away the burden of paying life insurance premiums in your later years and enjoy a hassle-free retired life. Premiums also become more economical if you pay them off in a shorter duration.

Waiver of Premium

With this rider, you get the option to stop paying premiums, if diagnosed with any one of the 12 listed critical illnesses.

Waiver of Premium

Waiver of Premium

This rider needs to be selected since inception. On survival after 30 days, of being diagnosed by a critical illness, all the future payments to be made are waived off and the benefits of the policy continue the same way.

Protection Against Critical Illnesses

On diagnosis of 12 critical illnesses, get a lump sum to manage your medical expenses.

Protection Against Critical Illnesses

Protection Against Critical Illnesses

In the event the life insured is diagnosed to be suffering from any one of the below 12 critical illnesses, we will pay 100% of the rider sum assured on the survival of 30 days following the date of confirmed diagnosis. The benefit is payable only once during the term of the policy. The cover under this rider will cease after a claim under this rider is paid. However, the remainder of the base policy continues.

The 12 Critical Illnesses covered under this rider are:

  1. Cancer of Specified Severity
  2. Open Chest CABG
  3. Myocardial Infarction (First Heart Attack of specific severity)
  4. Open Heart Replacement OR Repair of Heart Valves
  5. Kidney Failure Requiring Regular Dialysis
  6. Third Degree Burns
  7. Major Organ / Bone Marrow Transplant
  8. Permanent Paralysis of Limbs
  9. Stroke Resulting in Permanent Symptoms
  10. Surgery of aorta
  11. Coma of Specified Severity
  12. Blindness

Tax Benefits

All life insurance premiums paid are deductible from taxable income under Section 80C and pay out under Section 10(10D).

Tax Benefits

Tax Benefits

Tax Exemption under Section 80C on Premium Paid:

The insurance premium paid in a financial year is eligible for deduction under section 80C of the Income Tax Act,1961. 

Tax Exemption under section 10(10D) on claim amount received

The claim amount of a term life insurance policy is fully exempt from Income Tax under Section 10(10D).

Death Benefit - Payout option

Option to choose from 3 death benefit payout options - Lump sum, Monthly Income Benefit or Combination of these two.

Death Benefit - Payout option

Death Benefit - Payout option

You can choose between three death benefit payment options:

a.Lumpsum: The nominee will get the entire sum assured after the unfortunate demise of the life insured as a large sum.

b.Monthly Income Benefit: The nominee will get a monthly amount, which can be regular or increasing, depending on the policyholder’s choice. The policyholder can also choose the number of months he/she wants the payouts to be completed in. Under increasing income, your payouts will increase at 5% p.a.

c.Combination: The nominee will get a part of the sum assured as a lump sum and part as monthly income amount, which can be regular or increasing, depending on the policyholder’s choice. Under increasing income, the payouts will increase at 5% p.a.

Check if you are eligible for this product

Here are the rules! Ask us if any doubts.

What is the minimum and maximum age of the Life assured?
What is the minimum and max...

Minimum: 18 years

Maximum: 65 years

What is the minimum and maximum age of the Spouse*?
What is the minim...

Minimum: 18 years

Maximum: 65 years

* Applicable only if Better Half Benefit is opted

What is the minimum and maximum policy term?
What is the minim...

Minimum:
10 years for premium paying term 5 and 7 years
15 years for premium paying term 10 years
20 years for premium paying term 15 years
25 years for premium paying term 20 years

Maximum:
85 years less age at entry of the Life assured

What is the Premium paying frequency?
the premium...

There are fixed premium paying term options of 5, 7, 10,15 and 20

What is the minimum and maximum maturity age?
the minim...

Minimum: 28 years

Maximum: 85 years

What is the minimum and maximum sum assured?
the minimum and m..

Minimum:
Base Sum Assured: Rs. 25,00,000 
Better Half Sum Assured: Rs. 25,00,000
Better half benefit available only if Base Sum Assured is Rs. 50,00,000 or more

Maximum:
Base Sum Assured: No limit, subject to board approved underwriting policy
Better half Sum Assured: Rs. 10,000,000

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