Review of product Edelweiss Tokio Life – MyLife+

Life insurance is an essential risk protection for everyone in the working age. The awareness level of the country has been abysmally low. The logic is that this extent of life cover would enable the family to carry on with the same standard of living in which it is used to, if something untoward were to happen to the breadwinner. Edelweiss Tokio Life – MyLife+ is a non-participating, non linked term assurance plan in policybazar. Edelweiss Tokio Life Insurance is the best insurance company in India.

Term Insurance provides adequate opportunity for your family to continue with the same set of lifestyle and freedom even long after retirement. Here the person insured keeps paying a premium to ensure that the dependent gets the financial security in the event of his death.

The key benefits offered by Edelweiss Tokio Life – MyLife+ Insurance are:

  1. Choose life cover up to the age of 80 years so that your family has protection over a longer period.
  2. Minimum Entry Age – 18 Yrs & Maximum Maturity Age (Last Birthday) – 80 Yrs
  3. Multiple payout option: Lump sum or monthly or combination of both, it becomes easier for your family to manage the benefitted amount.
  4. Truly comprehensive and enhanced protection through addition of Accidental Total and Permanent Disability Rider and Accidental Death Benefit Rider.
  5. Minimum assured sum INR 25,00,000 and maximum assured sum have no limits subjected to underwriting.
  6. It covers a longer term period up to age of 80 years.
  7. This shows Edelweiss Tokio Life – MyLife+ provides attractive premiums for higher assured amounts.
  8. You can avail tax benefits under Section 80C and Section 10 (10D) of Income Tax Act, 1961. Tax benefits are subject to change in the tax laws. It is a tax free investment.

This product is being offered online. It takes 15 minutes on an average for a person to fill out an online insurance form.  Fill the form, make the payments and submit your documents. You do not have to wait for arrival of corporate agents to roll into Edelweiss Tokio Life – MyLife+ insurance cover. Edelweiss Tokio Life – MyLife+ gives you a need based free look period of 15 days to carefully go through coverage amounts, policy specifications and different shades of obligations by Edelweiss Tokio Life – MyLife+.

Most of other online term plan includes offers for death benefits only and the assured sum is paid to the nominee. But there is no benefit on maturity of the policy and even if the policy holder is alive at the end of term, there is no ‘income benefit ’ option. Policy holder has no option of staggering benefits of income even after end of term life insurance. There are no future monthly payouts in other competitive insurance products.

Edelweiss Tokio Life Insurance has a start up capital of INR 550 Crores. It believes in sustainable business understandings with consumers. It understands Indian consumer’s multiple financial needs which are essential to support the life cycle of individual customers.

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