Edelweiss Tokio Life – My Life+ Product Crack

Edelweiss Tokio Life – My Life+ Product Crack

In this fast pacing world where there is so much uncertainty in our lives, our lifestyle gives nil or just about little room for savings. Planning for our future is an all the more difficult affair while we progress along with so many responsibilities added onto our shoulders. Hence, it is highly vital to plan early and to make things fall into place even in those uncertain times.

Insurance policies play as our guardian angels in such tough times and are deemed to be our best bet in bringing forth some certainty into our lives. Life Insurance is one such essential term that can safeguard not only our family’s needs but also meet their future financial issues in case something unfortunate happens to us.

Edelweiss Tokio Life Insurance Company has introduced a vanilla term plan known as the Edelweiss Tokio Life – My Life+ is a protection plan whereby the sum assured as death benefit would be received by the nominee provided the life insured expires within the policy tenure. However, the policyholder is not liable to be paid with anything if the life insured survives. Hence, in such a case there is basically no maturity or survival benefit.

Edelweiss Tokio Life Insurance

What to get in the Edelweiss Tokio Life – My Life+?

The Edelweiss Tokio Life – My Life+ is an online term plan that could be applied only online. When it comes to death benefit payouts, there are basically three options to choose from.

Be it a lump sum payment, in which on the death, his/her beneficiary receives a lump sum payment during the policy tenure or, the income benefit option for that matter, which could break down the sum assured into periodic payments, you are good to go both ways. Under the latter, every month 1 % of the sum assured has to be paid for the next 130 months.

For example, supposing the policyholder picks up a sum of Rs.1 crore assured and goes with the income benefit option then the beneficiary is deemed to get Rs.1 lakh every month for 130 months upon the death of the policyholder during that policy term, which equals to a total of Rs.1.3 crore.

You can even go for combining the two options while tailoring the death benefit which is going to offer part lump sum as well as part periodic payments to the beneficiary either ways you prefer.Edelweiss Tokio Life.JPG

Edelweiss Tokio Life Insurance

What’s special about Edelweiss Tokio Life – My Life+?

On choosing a high sum assure, the Edelweiss Tokio Life – My Life+ policy offers lucrative discounts for women as well.  Especially, the premium rate for women of up to 21 years of age follows with that of an 18-year-old male. The Edelweiss Tokio Life – My Life+ policy is available mainly from 18 years of age. Which means the premium rate for women is going to always be that of a male three years younger to them. Such premium discount offers are only applicable when you choose a sum assured above Rs.25 lakh.

Though the policy Edelweiss Tokio Life – My Life+ does offer cover till 80 years of age, the insurance is only recommended till you retire for you would have no dependents by hen and even have ample assets for your requirements. This policy has three riders to offer: you could choose between accidental total and permanent disability rider, accidental death benefit rider or the waiver of premium rider.
Edelweiss Tokio Life Insurance

How does it work?   

A sum Rs.1 crore assured for a 35-year-old male for a time span of 25 years would come to Rs.8,510. Even if this benefit is broken by the policyholder into an income benefit option whereby the beneficiary is entitled to get Rs.1.3 crore in total or it’s broken into part lump sum and part income benefit, there is no change in the premium.

The Style Symphony’s take

The Edelweiss Tokio Life – My Life+ is one among the cheapest and most comprehensive plans currently making waves in the market and the cherry on the cake lies in fact that it calls for customization as well. However, the periodic income option is what’s recommended being that the beneficiary might not be immediately able to make the most of the lump sum payment. Furthermore, according to the Edelweiss Tokio Life – My Life+ the policyholder is even allowed to break up the sum assured to him/her into lump sum payments or be monthly payments, either ways desired.


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