Edelweiss Tokio - MyLife+Lumpsum
About The Plan
Edelweiss Tokio Life Insurance Co. Ltd. is a life insurance joint venture between Edelweiss Financial Services, one of India’s leading diversified financial services groups and Tokio Marine Holdings Inc, one of the world’s largest insurance groups headquartered in Japan. With over 130 years of experience in the insurance sector, Tokio Marine is present in 39 countries.
Edelweiss Tokio Life Insurance was incorporated in 2011 with Edelweiss Group holding 74 per cent and Tokio Marine the remaining 26 per cent stake in the JV. But after the Foreign Investment Promotion Board’s approval of hiking overseas partner’s stake to 49 per cent in the insurance joint venture last month, the ratio would be 51:49.
Tokio Marine will infuse Rs. 500 Cr additional money in next 2-3 months in order to hike its stake in the joint venture.
Edelweiss Tokio Life Insurance offers a range of life insurance products catering insurance solutions to individuals and groups as well. It provides Education Loans, Pension Plans, Health Insurance Solutions, Investment and Income Replacement Solutions to customers.
1% of sum assured will be paid every month for the next 130 months starting from the date of death.
Enhanced protection through addition of accidental death, disability and waiver of premium riders which makes this plan truly comprehensive.
Longer life protection up to 80 years of age.
Attractive premiums for higher Sum Assured amounts.
Lower premium rates for female lives.
Entry age: Min. 18 years, max. 60 years.
Wide range to choose policy term from 10, 15, 25, 30, 35, 40 and (80 minus entry age).
Premium payment frequency: Annual.
Minimum Sum Assured Rs. 25 lac, maximum-No Limit (subject to underwriting).
Tax benefit u/s 80C & 10(10D) of the Income Tax Act, 1961.
- Minimum sum assured is 25 lakhs & maximum sum assured is No Limit (subject to underwriting)
- Minimum entry age is 18 years & maximum entry age is 60 years
- Minimum policy term is 10 years & maximum policy term is 40 years
- Premium payment mode is Annual
- Maturity benefits are Nil
- Grace period is 30 days
- Yes, under Section 80C & 10(10D) of the Income Tax Act, 1961
Assuming you a 30 years old healthy mal, the premium you need to pay will be Rs. 5,880 for Sum Assured Rs. 50 lac and Policy Term 25 years.
Note: Hence, this is an illustration, the actual premium may vary.