Through the Live Long benefit of the plan, which is a survival benefit, the plan offers the policyholder protection, along with an income benefit that begins during the policyholder's non-working years.
Edelweiss Tokio Life Insurance today launched Total Protect Plus, a comprehensive protection plan that offers additional optional benefits to meet goal-linked financial requirements.
Among its optional offerings are Child’s Future Protect and Live Long benefits. Through the Child’s Future Protect benefit of the plan, a parent will be able to opt for an enhanced cover during their child’s growing years. In case the insured parent dies before the child turns 25 years of age, an additional payout is made to the nominee.
Through the Live Long benefit of the plan, which is a survival benefit, the plan offers the policyholder protection, along with an income benefit that begins during the policyholder’s non-working years. An individual can choose either 60 years or 65 years as the commencement age, following which they receive an income equal to a certain percentage of the base sum assured.
Subhrajit Mukhopadhyay, Executive Director, Edelweiss Tokio Life Insurance says, “Over the last decade, there has been a growing clamour for insurance solutions that are all-encompassing and comprehensive in securing financial risks. The pandemic has brought this need into the spotlight. With Total Protect Plus, we hope to provide an inclusive solution to manage customers’ risk and addresses financial needs for all their goals.”
He further adds, “There is a higher awareness now for goal-based financial planning, wherein retirement and pure protection occupy a bigger mind space among customers. When designing products, we endeavour to offer the best value proposition that addresses the existing need gap, be it in terms of a new product or the way existing solutions are offered in the market space.”
Some of the key factors of the Total Protect Plus protection plan;
– Offers a cover till 100 years of age, allowing individuals to leave behind a legacy to their loved ones.
– An optional Better Half Benefit, which offers a cover to the policyholder spouse post his/her death.
– An optional Return of Premium benefit allows the policyholder to get 100 per cent of total paid premiums back when the policy matures.
– Offers the option of either regular pay or limited pay of premiums for 5 / 7/ 10/ 15/ 20 years.
– Offers 6 per cent discount on the first-year premium if medicals are completed within 7 days of purchase.