Edelweiss Tokio Life MyLife+
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
Key Features
Cover up to 80 years of age with a flexible payout option
Provides the flexibility to choose the death benefit payout as lumpsum or monthly payout or a combination of both
This product is being offered online. You can choose to protect your family from the comfort of your home.
Benefits
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.
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.
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.
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)
How it works
Eligibility
| 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 |
