Edelweiss Tokio Life - My Life Plus
Product Info
UIN
Status
Launch Date
Withdrawn Date
Product Overview
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+.
Product Description
- Option to choose life cover up to the age of 80 years so that your family has protection over a longer period
- Option to get benefit as lump sum or as a monthly benefit or both so that it is easier for your family to manage the benefit amount
- Attractive premiums for higher Sum Assured amounts
- Low cost Term Assurance Plan
COMPARE & BUY SIMILAR PLANS
Unique Features
- One of the most cost effective term plan with the highest tenure possible, which is till age 80 years
Eligibility Criteria
| 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 |
OneInsure App Benefits
Product Benefit
| 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 |
|
| Tax Benefit | Avail tax benefits under Section 80C and Section 10 (10D) of Income Tax Act, 1961 |
Other Policy Features
| Feature | Description | |||||
|---|---|---|---|---|---|---|
| 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 |
||
| 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 | |||||
Add-ons
- Accidental Total & Permanent Disability Rider:
Edelweiss Tokio Life -Accidental Total and Permanent Disability Rider provides you with a lump sum to cater to your immediate expenses in case your income earning capacity is hindered due to an accidental disability (total & permanent).
- Accidental Death Benefit Rider:
Edelweiss Tokio Life -Accidental Death Benefit Rider provides for additional financial security in case any accident occurs. Also, the benefit is payable in lumpsum.
- Waiver of Premium Rider:
Edelweiss Tokio Life -Waiver of Premium Rider provides you protection in case of critical illness or accidental total and permanent disability.
Exclusions
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
Claim Process
Know Claim Process Of Edelweiss Tokio Life - My Life Plus
Company Overview
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.
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