Edelweiss Tokio Life Insurance has recently launched a new term life insurance plan – Total Protect Plus, which has been designed to protect the financial future of the policyholder and their family.
Edelweiss Tokio Life Insurance has recently launched a new term life insurance plan – Total Protect Plus, which has been designed to protect the financial future of the policyholder and their family. The plan promises to provide comprehensive protection through additional optional benefits to meet goal-related financial requirements.
Commenting on the plan, Subhrajit Mukhopadhyay, Executive Director, Edelweiss Tokio Life Insurance, told FE Online: “Every earner who has dependents should consider buying this plan. Over the past decade, there has been a growing demand for global and comprehensive insurance solutions in securing financial risks. The pandemic has brought this need to light. »
“Total Protect Plus is a solution that allows customers to manage their financial risks and meets the need to secure their financial objectives. The plan offers varied features that can be combined to create a holistic long-term plan. It offers protection for the spouse, additional protection for the parents during the growing years of the child, the possibility of receiving income during the years without work and the choice to pay a premium for a limited time while covering themselves all life,” he added.
– Coverage up to 100 years
– Better Half Benefit option, which provides coverage for your spouse after your death
– Optional return of premium benefit, allowing the recovery of 100% of the total premiums paid when the policy matures
– Option of regular payment or limited payment of premiums for 5/7/ 10/ 15/ 20 years
– 6% off first year premium if medical exams are completed within 7 days of purchase
Financial requirements linked to objectives
Mukhopadhyay said, “With Total Protect Plus, we have attempted to create an all-encompassing product that addresses the concerns that weigh on every individual’s mind, both from a family and self-perspective. Especially when you are the sole breadwinner in the family, the financial stability of your spouse and children is a priority for you. This product offers two optional offers that allow you to ensure the financial continuity of your spouse and your children in the event of the death of the insured.
He further stated that the Better Half benefit option offers the policyholder the opportunity to create a safety net for their spouse after their death in addition to a death benefit. This means that in the event of the death of the policyholder, the nominee receives a death benefit and the Better Half Benefit option initiates life cover for the spouse for the remainder of the policy term.
Through the Child’s Future Protect Benefit, the product aims to provide a solution to a temporary need, that of taking care of your child’s dreams and aspirations. Typically, an individual in India only becomes fully self-sufficient at the age of 25. Thus, this product creates a financial cushion for the child so that your absence does not derail their ambitions or education.
“Another equally important goal is your financial stability during your years without work. The Live Long Benefit option works as a good income guarantee, in which the policyholder can determine an income payment option at the time of retirement. (which is either 60 or 65) So even if the insured survives to earning age, you have a robust income mechanism to help you through the years out of work,” said Mukhopadhyay.