Edelweiss Tokio Life - MyLife+ is a non-participating, non-linked Term Insurance Product which provides you the flexibility to choose the death benefit as lumpsum or monthly payout or a combination of both. It also provides you the flexibility to choose a cover for up to 80 years of age. Make your future secure with MyLife+.
Minimum Entry Age | 18 Years |
Maximum Entry Age | 60 Years |
Age at Maturity | 80 Years |
Policy Term | 10, 15, 20, 25, 30, 35,40 and (80 minus entry age) |
Premium Paying Term | Regular pay |
Premium Payment Frequency | Annual |
Minimum Premium# | Rs 2,500 |
Minimum Sum Assured | Rs 25,00,000 |
Maximum Sum Assured | No Limit, subject to Underwriting |
Benefit | Description |
Maturity Benefit | No benefit is payable. |
Death benefit | 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 monthiversary from the date of death. | |
At the application stage, policyholder can choose a combination of both the options as well when the policy term is same. Under such combination, the sum assured will be arrived at by adding the sum assured of both the options and one single contract will be issued. | |
Note: The sum assured at any time during the policy term is higher than • 10 times of annualized premium OR • 105% of annualized premiums paid till date of death |
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Tax Benefit | Avail tax benefits under Section 80C and Section 10 (10D) of Income Tax Act, 1961 |
Feature | Description | |||||
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Surrender | No benefit is payable | |||||
Revival | If premiums are not paid within the period of grace the policy lapses | |||||
The policy may be revived within two years from the date of the first unpaid premium | ||||||
The revival will be considered on receipt of written application from the policyholder along with the proof of continued insurability of Life Assured and on payment of all overdue premiums with simple interest of 1% per completed number of months | ||||||
Discounts available | Discount for large Sum Assured are as per the table below: | |||||
Sum Assured | 25,00,000 - 49,99,000 |
50,00,000 - 99,99,000 |
1,00,00,000 - 1,99,99,000 |
2,00,00,000 and above |
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10 | Rs. 165 | Rs. 145 | Rs. 50 | Rs. 135 | ||
15 | Rs. 165 | Rs. 150 | Rs. 55 | Rs. 135 | ||
20 | Rs. 175 | Rs. 155 | Rs. 60 | Rs. 135 | ||
25 | Rs. 190 | Rs. 160 | Rs. 65 | Rs. 135 | ||
30 | Rs. 205 | Rs. 175 | Rs. 90 | Rs. 135 | ||
35 | Rs. 220 | Rs. 185 | Rs. 110 | Rs. 135 | ||
40 | Rs. 235 | Rs. 215 | Rs. 125 | Rs. 135 | ||
80 - Entry Age | Rs. 290 | Rs. 250 | Rs. 185 | Rs. 135 | ||
Discount on female lives | Up to Age 21 | Same as Male Rate of age 18 | ||||
Age 22 & above | 3 year age setback to Male Rate |
The revival will be considered on receipt of written application from the policyholder along with the proof of continued insurability of Life Assured and on payment of all overdue premiums with simple interest of 1% per completed number of months
Know Claim Process Of Edelweiss Tokio Life - My Life Plus
Edelweiss Tokio is a new age life insurance player in India, Established in 2011.Edelweiss Tokio Life is a Joint Venture between one of India’s growing and largest non banking financial entity, Edelweiss Financial Services Limited and one of the oldest insurer of Japan, Tokio Marine and Nichido Fire Insurance Co. Ltd.
Robinhood is known for its user & customer centric approach. We take care of all the phases of insurance, whether you've bought the policy from us or not.