Edelweiss Tokio Life Insurance today announced the launch of Total Protect Plus, a protection plan that it claims offers additional optional benefits to meet goal-linked financial requirements.
Commenting on the new product, Subhrajit Mukhopadhyay, Executive Director, Edelweiss Tokio Life Insurance said, “With Total Protect Plus, we hope to provide an inclusive solution to manage customers’ risk and addresses financial needs for all their goals.”
Through Child’s Future Protect benefit, a parent can opt for an enhanced cover during their child’s growing years to ensure their aspirations are uncompromised. In case the insured parent dies before the child turns 25 years of age, an additional payout is made to the nominee.
Through the Live Long benefit, which is a survival benefit, this plan not only offers protection, but also an income benefit that begins during your non-working years. An individual can choose either 60 years or 65 years as the commencement age, following which they receive an income equal to a certain percentage of the base sum assured.
“There is a higher awareness now for goal-based financial planning, wherein retirement and pure protection occupy a bigger mind space among customers,” Mukhopadhyay added.
Key details
Offers a cover till 100 years of age, allowing individuals to leave behind a legacy to their loved ones
An optional Better Half Benefit, which offers a cover to your spouse post your death
An optional Return of Premium benefit which allows you to get 100% of total paid premiums back when the policy matures
Offers the option of either Regular Pay, or Limited Pay of premiums for 5 / 7/ 10/ 15/ 20 years
Offers 6 percent discount on first-year premium if medicals completed within 7 days of purchase.