MUMBAI, India, June 22, 2020 /PRNewswire/ -- As uncertainties are on the rise during the Coronavirus pandemic, the need for adequate life insurance which ensures a family's financial safety has become more pressing. Term insurance plans are designed to alleviate financial distress caused to the family after the sudden loss of the bread earner. Edelweiss Tokio Life - Simply Protect is one such term plan that caters to specific insurance needs, thus securing life.
Edelweiss Tokio Life - Simply Protect comes with four life cover variants to choose from: Basic life cover, Life cover with inbuilt Accidental Death Benefit, Life cover with inbuilt Waiver of Future Premiums on accidental total and permanent disability, and Life cover with inbuilt Waiver of Future Premiums on critical illness. These inbuilt benefit options make this plan all-inclusive.
This plan has three different premium paying term options to choose from: limited pay, regular pay, and one-time pay. Limited pay premium option allows paying premiums for a shorter period to avoid liability in post-retirement years. With regular pay option, one can continue to pay premiums for a longer duration in regular installments. One-time pay enables one to pay off the entire life insurance premium in a single go. One can stay protected up to 80 years of age with the term plan.
When it comes to the pay-out of the sum assured, a lump sum payment may not be the best option for financial dependents. They would need a regular monthly income in order to meet daily expenses. Edelweiss Tokio Life - Simply Protect offers an Income Benefit option that provides the nominee 1% of the sum assured every month for 130 months, after the policyholder's demise. This enables the family to receive a steady income for many years.
The plan offers a discount for a large sum assured. This discount is calculated based on the sum assured, policy term and premium paying term.
Opting for Edelweiss Tokio Life - Simply Protect is a simple choice to secure the family's future and ensure financial stability even in difficult times.
About Edelweiss Tokio Life Insurance
Edelweiss Tokio Life Insurance is a joint venture between Edelweiss Financial Services, among India's leading diversified financial services companies, and Tokio Marine Holdings Inc, one of the oldest and largest insurance companies in Japan.
Edelweiss Tokio Life Insurance launched its pan-India operations in July 2011, offering proprietary need-based solutions to help customers meet their life stage financial goals. Its lineage brings together a deep understanding of customer needs and international expertise. The company is headquartered in Mumbai serving over 2.02 lakh customers through 43,681 personal finance advisors as on March 31, 2019, across 121 branches in 93 major cities.
Edelweiss Tokio Life Insurance has been consistently recognized for its Product Innovation capabilities at several industry forums and has won several awards for its contribution and innovation. Some notable mentions comprise the Outlook Money Award for Best Life Insurer 2016, Golden Peacock Awards 2018, Golden Globe Tigers Awards and ET NOW - BFSI Awards for Best Product Innovation 2018, Times National Award for Marketing Excellence 2018, India Insurance Summit 2019 and Skoch Awards 2019.
To learn more about Edelweiss Tokio Life Insurance, please visit www.edelweisstokio.in
You can follow Edelweiss Tokio Life on: