The Edelweiss Total Protect Plus term life insurance plan provides coverage for up to 100 years. Check key features



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Edelweiss Tokio Life Insurance recently launched a new term life insurance plan – Total Protect Plus, which has been designed to protect the financial future of the insured and their family. The plan promises to provide comprehensive protection with additional optional benefits to meet financial requirements related to goals.

Commenting on the plan, Subhrajit Mukhopadhyay, Executive Director of Edelweiss Tokio Life Insurance, told FE Online: “Every person with income and dependents should consider purchasing this plan. Over the past decade, there has been an increasing demand for comprehensive and comprehensive insurance solutions for financial risk protection. The pandemic has put this need in the spotlight. “

“Total Protect Plus is a solution that allows the client to manage his financial risks and responds to the need to secure his financial objectives. The plan offers various features that can be combined to create a holistic term plan. It offers protection for the spouse, additional protection for the parents during the growing years of the child, the possibility of receiving income during the years without work and the choice to pay a premium for a limited time while being covered. all life, ”he added.

Key Benefits

– Coverage up to 100 years
– Optional Better Half Benefit, which provides coverage for your spouse after your death
– Optional premium refund guarantee, allowing reimbursement of 100% of the total premiums paid when the policy matures
– Option of regular payment or limited premium payment for 5/7/10/15/20 years
– 6% reduction on the first year premium if the medical examinations are completed within 7 days of purchase

Financial requirements related to objectives

Mukhopadhyay said: “With Total Protect Plus, we have tried to create a product that is holistic in nature and responds to the concerns that weigh on the mind of each individual, both from the point of view of the family and oneself. Especially when you are the sole breadwinner in the family, the financial stability of your spouse and child is a priority for you. This product offers two optional offers that allow you to ensure the financial continuity of your spouse and children in the event of the insured’s death.

He added that the Better Half benefit option gives the policyholder the ability to create a safety net for their spouse after their death in addition to a death benefit. This means that if the policyholder dies, the applicant receives a death benefit and the Better Half Benefit option starts life coverage for the spouse for the remainder of the policy term.

Thanks to the Child’s Future Protect service, the product aims to provide a solution to a temporary need, that of taking care of your child’s dreams and aspirations. Typically, an individual in India does not become fully self-sufficient until the age of 25. Thus, this product creates a financial cushion for the child so that your absence does not derail his ambitions or his studies.

“Another equally important goal is your financial stability during your non-working years. The Live Long Benefit option works as a good income supplement, in which the policyholder can determine an income payment option at the time of retirement (which is either 60 or 65). So even if the policyholder survives the earning age, you have a robust income mechanism to help you get through the years without work, ”Mukhopadhyay said.

Do you know what it is? FE Knowledge Desk explains each of these and in more detail on Financial Express Explained. Also get live BSE / NSE stock quotes, latest mutual fund net asset value, top equity funds, top winners, top losers on Financial Express. Don’t forget to try our free income tax calculator.

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