Monday, 22 June 2015

Insurance Review : Edelweiss Tokio Life - MyLife+



EdelweissTokio Life - MyLife+ is a non-participating, non linked term assurance plan that covers your life and provides security to your family. This plan is exclusively offered online which means one can buy this policy without annoying middlemen or hectic paperwork.

  • Entry Age: The minimum entry age for the policy is 18 years.
  • 2 Death benefit options viz. Lump-sum benefit option and Income benefit option: the buyer is free to choose either or both depending on his/her family’s needs, his/her age, and his/her level of financial literacy.
  • Lump-sum benefit option: A lump-sum benefit equal to the sum assured will be paid on death of the life insured and the policy will terminate.
  • Income benefit option: 1% of sum assured will be paid every month for the next 130 months starting from next month from the date of death.

Let’s have an apple to apple comparison of Edelweiss Tokio Life MyLife+ plan with Aviva i-Life plan.



Edelweiss Tokio Life MyLife+
Aviva i-Life plan
Min Entry Age
18 years
18 years
Max Entry Age
60 years last birthday
55 years last birthday
Max Maturity Age
80 years last birthday
70 years last birthday
Policy Term
 Minimum 10 years
 Maximum 80 years minus entry  age
Minimum 10 years
Maximum 35 years
Premium Payment Term
Regular Pay
Equal to Policy Term
Payment Frequency
Annual
Yearly or Half Yearly
Riders Available 
 You can make your term cover    more comprehensive by adding  rider  from the below mentioned  riders:
        
      Edelweiss Tokio Life - Accidental  Total and Permanent Disability  Rider

       Edelweiss Tokio Life - Accidental  Death Benefit Rider

      Edelweiss Tokio Life - Waiver of  Premium Rider

None



















Thus, our pick of the month is Edelweiss Tokio Life - MyLife+. With so many options to choose online, we at The Indian Capitalist think Edelweiss Tokio Life MyLife+ has a lot to offer to the netizens.

Two key needs that the product satisfies – a need for longer term period and the choice of payout options that best suits the buyer’s family.

* This is a sponsored review. I need money too.

By - Chaitanya Kulkarni
twitter.com/chai2kul




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