Insurance News Details

Edelweiss Tokio Life Insurance unveils its new term plan 'Zindagi Protect'

(07-Jul-23   18:58)

Edelweiss Tokio Life Insurance has launched Zindagi Protect, a new term insurance plan that offers a range of benefits to cater to the evolving financial needs of customers during their life stages.

Edelweiss Tokio Life - Zindagi Protect is an Individual, Non-Linked, Non-Participating, Pure Risk Premium / Savings, Life Insurance Plan. This plan designed to provide protection to policyholder and their family. This plan gives their life an all-round protection with the multiple benefits offered to take care of their ever-changing responsibilities as well as increased cost of living. It also ensures that the family remains well protected if and when the main bread earner of the family isn't around.

Policyholders can choose between the Life Cover, or, the Return of Premium options. Under both the options provides death benefit if the insured passes away during the policy term. In the Return of Premium option, In case of survival of policyholder till maturity provides a maturity benefit equal to the sum assured.

This plan has three optional benefits: Child's Future Protect Benefit, Better Half Benefit, and Premium Break Benefit.

The Child's Future Protect Benefit allows policyholders to increase their life cover until their child reaches 25 years old, ensuring enhanced financial security for the family.

The Better Half Benefit provides life cover for the policyholder's spouse after their death without any future premium requirements. This recognizes the importance of protecting the surviving spouse's financial stability.

Additionally, the Premium Break Benefit offers flexibility by allowing policyholders to skip up to 8 premiums based on their payment and policy term.

In addition to these unique benefits, the Zindagi Protect plan provides various other features, such as the flexibility to choose between limited pay or regular pay premium payment options, the option to receive all paid premiums back at a specific point during the policy term through the Special Exit Benefit, and a 6% discount on the first-year premium if the medical examination is completed within 7 days of login.

The minimum entry age for both the life insured and spouse is 18 years, while the maximum entry age depends on the premium paying term. The minimum premiums are Rs. 3,000 for annual payments, Rs. 2,000 for semi-annual payments, Rs. 1,250 for quarterly payments, and Rs. 300 for monthly payments.

The plan is available for purchase both offline and online, and customers have the option to avail life insurance cover up to the age of 100.

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