Edelweiss Tokio Life – Zindagi Plus is an innovative and customisable life insurance plan. It offers unique benefits that address your immediate as well as future protection needs. This term plan has options that will cover the Life Insured and also that’ll take care of tomorrow’s increasing responsibilities. This plan is also equipped with traditional riders so that you can be prepared for the unprepared.
Plan Options
Level sum assured:
Under this, the base sum assured remains the same throughout the policy year.
Decreasing Sum Assured:
Under this, the base sum assured reduces by 50% after the policyholder attains 60 years old.
Better Half Benefit
In case of the unfortunate demise of the life insured before the policy term, a life cover will start in the name of the spouse.
He/she won’t have to pay any future premiums. The sum assured (life cover amount) for the same will be 50% of the base sum assured or Rs. 1 crore, whichever is lower.
Systematic Increase Of Life Cover
Top-up Benefit:
This benefit will increase your base sum assured every year by your chosen rate (5% or 10%). It will continue till the cumulative top-up sum assured equals the base sum assured or till the age of 60 years or till the outstanding policy term is less than 5 years or till the death of the life insured, whichever is earlier. It is a useful and practical way of tackling tomorrow’s growing needs and uncertainties such as inflation and the need to buy another life insurance policy.
Life Stage Benefit:
Life stage Sum Assured will be added to your base sum assured on occurrence of a major life event such as marriage, having a child etc.
Payout Options
The policyholder can choose between three death benefit payment options, which are:
Lumpsum: The nominee will get the entire sum assured after the unfortunate demise of the life insured as lumpsum.
Combination: The nominee will get a part of the sum assured as lump sum and part as monthly income amount, which can be regular or increasing, depending on the policyholder’s choice. Under increasing income, the payouts will increase at 5% p.a.
Monthly Income Benefit: The nominee will get a monthly amount, which can be regular or increasing, depending on the policyholder’s choice. The policyholder can also choose the number of months he/she wants the payouts to be done. Under increasing income, your payouts will increase at 5% p.a.
Choose Your Payment Options
Regular term:
The policyholder will pay the premium till the policy term lasts.
Other key benefits include:
- Top up benefit – An annual increase in the sum assured, starting from the first policy renewal.
- Life stage benefit – An increase in the sum assured depending on the Life Stages achieved. For instance, marriage, birth of your children, or home loan.
- Pay till 60 – An option that allows the policy holder to pay premium until the retirement age of 60.
- Waiver of premium benefit – On diagnosis of specified critical illness, all future premium requirements are waived off.
- Death benefit – A sum assured paid to the dependent on policy holder’s death, under three options – Lumpsum or monthly income or a combination of both
- Riders – Available to enhance protection in case of accidental death, total and permanent disability, critical illnesses and hospitalisation.
