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SummaryEdelweiss Tokio Life Insurance Company has introduced an unit-linked insurance plan that aims to maximise returns, along with sufficient life cover.

Edelweiss Tokio Life’s wealth enhancement

Edelweiss Tokio Life Insurance Company has introduced an unit-linked insurance plan that aims to maximise returns, along with sufficient life cover. The plan has a zero policy administration charge and there are no charges for switching, premium redirection and partial withdrawals. The plan also offers customers the flexibility to pay premiums — a minimum of R25,000 per month or R2. 5 lakh per annum through top-ups — for a period of five, seven or 10 years, or a regular period. The customer can enjoy wealth accumulation and insurance protection over various policy terms, ranging from 10 to 30 years. Further customising the insurance cover to suit changing needs, the plan offers riders that can be bought with the policy.

Claims Guarantee from Max Life

Max Life Insurance has launched Claims Guarantee for a hassle-free death claims process. The company claims it will pay claims within 10 working days of the receipt of all the death claim documents/clarifications from the nominee, provided that there is no non-disclosure in the proposal form or health declaration form by the policyholder. If the company fails in its commitment, it will pay 6% interest rate per annum. In case of death claims for unit-linked insurance policies, the company commits to pay the account value amount within 48 hours of the intimation by the nominee. And to make the claims process hassle-free, the company will assign a personalised claims relationship officer for each death claim cases.

Suraksha Kosh from Tata AIA Life

Tata AIA Life Insurance Company has launched a non-participating unit-linked endowment insurance plan that provides a comprehensive protection of one’s financial goals against the risk of premature death and, more importantly, against the risk of living post an accident, critical illness or surgery. The plan not only helps a policyholder save for goals, but also ensures that the savings are protected from uncertain events. The plan offers a choice of four inbuilt benefit options for the customers to ensure the protection of their financial goals. Suraksha Kosh offers a wide range of flexible policy term from 15 to 40 years and is available to individuals from the age 18 to 50 years with maximum maturity age of 65. Premiums paid under this plan are eligible for tax benefits under Sections 80C, 80 D and 10(10D) of the Income Tax Act, 1961.

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