Edelweiss Tokio Life Insurance Launches Online Protection Plan: TotalSecure+

Comprehensive Plan with Life Cover and Critical Illness Cover

·         A competitive and comprehensive protection plan which gives the option of not only a Life Cover but also a cover for a number of Critical Illnesses as per your choice

·         Three death benefit payment options – lumpsum, monthly income or a combination of both, to enable a monthly income in the form of fixed monthly amount or increasing monthly amount, depending on your requirements

·         Critical Illness Coverage as per your requirements – Accelerated Critical Illness Benefit up to Rs. 1 crore

·         Life Cover up to age 80

·         Add-on rider options to make this plan even more comprehensive

by Suman Gupta

Mumbai, September 29, 2016: Edelweiss Tokio Life Insurance Company Limited, the life insurance arm of Edelweiss Financial Services Ltd., on September 26, 2016 launched ‘Edelweiss Tokio Life - TotalSecure+’, a competitive and comprehensive Online Plan that provides complete life protection in the form of a life cover, as well as an option to cover against Critical Illnesses. The Critical Illness Benefit is an accelerated benefit and not an additional benefit which means the policy will continue with the Death Benefit, reduced to the extent of the Critical Illness Sum Assured already paid.

TotalSecure+ is a non-participating, non-linked, term insurance plan with three options, Life Cover, Life Cover with ‘Basic Health Cover’ covering 7 Critical Illnesses and Life Cover with ‘Comprehensive Health Cover’ covering 35 Critical Illnesses. All these three options allow the customer to choose the policy term and customise the plan as per requirement and convenience.  Under the Life Cover, the coverage is available up to age 80 along with a choice of various premium payment terms. Under Life Cover with ‘Basic Health Cover and Life Cover with ‘Basic Comprehensive Cover’, the coverage is available up to age 75.

Talking about the new online plan, Mr. Deepak Mittal, MD & CEO, Edelweiss Tokio Life Insurance said, “TotalSecure+ is designed in line with our core philosophy to plan solutions based on a true understanding of customer needs. The Life Cover coupled with the Critical Illness option, enables one to have peace of mind even in unforeseen circumstances. In the case of diagnosis of a critical illness - loss of income, an imperative need to pay off debts and other treatment costs - TotalSecure+ empowers one with complete security.”

For customer convenience, the plan comes with three death benefit payment options: Lumpsum – the death benefit will be paid in a lumpsum; Regular Income – a specific percentage of the Death Benefit will be payable every month for a fixed number of months (as chosen by the customer for 36, 60, 120 and 180 months) starting from the next policy month anniversary from the date of death, which can be either fixed or increasing; Lumpsum plus regular income – the policyholder will choose the proportion of Death Benefit to be received as a lumpsum on death, and the balance will be received in the form of regular income after death.