Established in 2011, Edelweiss Tokio Life was born with the coming together of a major Indian financial conglomerate in Edelweiss group and a renowned Japanese life insurance company in Tokio Marine coming together to give the Indian consumers a viable option when it comes to life insurance products.
Today, the company provides a range of life insurance policies for the clients to choose from according to their budget and needs.
1. Simply protect: this is the most basic life insurance policy provided by Edelweiss Tokio. This insurance cover has four options for the customer to choose from; Life Cover, Life Cover with Accidental Death Benefit, Life Cover with waiver of future payments in case of total and permanent disability and Life Cover with waiver of future payments in case of critical illness. Apart from these, the insurance provides coverage upto 80 years and contains a flexible payout option.
2. Income Replacement: this is an ideal policy for every sole bread earner in the family. It requires lesser premium for a longer protection and it makes sure that in case of the untimely demise of the bread earner, the family keeps receiving a monthly income for their expenses. Most importantly, in order to cover for the inflation costs, the payout increases by 5% every year.
3. MyLife+: this is a unique plan with the maximum possible flexibility and benefits. It covers people upto 80 years of age and runs on a flexible payout option. Where this policy differs from the above two is that that this policy includes a provision where a combination of lump sum and monthly benefit could be derived. And also, this policy is available for purchase online.