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Edelweiss Tokio Life MyLife+

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Edelweiss Tokio Life MyLife+ Plan

Why Edelweiss Tokio Life - MyLife+?
Edelweiss Tokio Life – MyLife+ is a non-participating, non linked term assurance plan thatcovers your life and provides security to your family. It is a great opportunity to secure yourfamily at a very competitive price. The key benefits offered by the product are
  • Option to choose life cover up to the age of 80 years so that your family has protection over a longer period
  • Option to get benefit as lump sum or as a monthly benefit or both so that it is easier for your family to manage the benefit amount
  • Enhanced protection through addition of accidental death, disability and waiver of premium riders which makes this plan truly comprehensive
  • Attractive premiums for higher Sum Assured amounts

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Highlights of Edelweiss Tokio Life MyLife+

Edelweiss Tokio Life – MyLife+ is an online insurance term plan that covers your life and provides security to your family. It is a great opportunity to secure your family at a very competitive price. With cover upto 80 years of age & a flexible payout option, we offer you a value-for-money online insurance term plan.

maximum protection
Cover up to 80 years of age with a flexible payout option

multiple payout options
Provides the flexibility to choose the death benefit payout as lumpsum or monthly payout or a combination of both

online product
This product is being offered online. You can choose to protect your family from the comfort of your home.


Key Benefits for Edelweiss Tokio Life MyLife+

Death Benefit:
On death of the life assured during the policy term, the payout options:
1) Under lump sum option, a lump sum amount equal to the sum assured will be paid.
2) Under Income benefit option, 1% of sum assured will be paid every month for the next 130 months starting from month after the date of death.
3) Combination of above two as per choice exercised by policyholder.

Tax Benefits:
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.

Riders:
Edelweiss Tokio Life - Accidental Total and Permanent Disability Rider (147B001V02)
Edelweiss Tokio Life - Accidental Death Benefit Rider (147B002V02)
Edelweiss Tokio Life - Waiver of Premium Rider (147B003V02)

COMPARE THIS PLAN WITH OTHER TERM PLANS
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7 Reasons why choose Edelweiss Tokio Life MyLife+

  • Low cost Term Assurance Plan
  • Option to choose the death benefit as lump sum or a monthly payout or both
  • Option to make your cover more comprehensive through riders
  • Get discounts for higher Sum Assured
  • Lower premium rates for female lives
  • Option to choose cover up to age 80
  • Get tax benefits* for premium and claim amount


Eligibility Criteria of Edelweiss Tokio Life MyLife+

Minimum Entry Age 18 Years
Maximum Entry Age (Last birthday) 60 Years
Maximum Maturity Age (Last birthday) 80 Years
Policy Term (in Years) 10,15,20,25,30,35,40 and (80 minus entry age)
Premium Paying Term (PPT) Regular pay
Premium Payment Frequency Annual
Minimum Premium Rs 2,500
Maximum Sum Assured No Limit, subject to Underwriting
Minimum Sum Assured Rs 25,00,000
 

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Additional Benefits

The product offers two death benefit options as follows:
  • Lump-sum benefit option
  • Income benefit option
Customer can choose a combination of both the options as well. The death benefit option has to be chosen at the policy application stage. During the payout period, if the nominee wants lump-sum instead of staggered benefit then the remaining future monthly payouts, discounted at the rate of 5.25% per annum, will be paid as lumpsum immediately.
 
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