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Edelweiss Life MyLife+ Plan
Edelweiss Life My Life+ is a traditional Term Insurance Plan designed to take care of the protection ned of the policyholder.
51 Partners Insurance Partners
10.5 Crore Registered Consumer
5.3 Crore Policies Sold
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₹1 Crore Life cover starting from ₹478/month+
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- Edelweiss Life MyLife+ Plan
Key Features
- It is a pure term insurance plan with regular pay premium paying option.
- Death Benefit can be availed in either lump sum or in monthly instalments or in a combination of both.
Benefits
- The nominee gets the Sum Assured (SA) on death of the policyholder which is higher than 10 times the annual premium or 105% of all premiums paid till death under the Lump sum Benefit option.
- Under the Income Benefit option, 1% of the SA is paid every month form the month following the death of the policyholder for a total of 130 months.
- For the combination of both benefits, the applicable SA for each benefit is added to the SA of the other and a single policy is issued.
- Income tax benefit on the premium paid as per Section 80C and on the claims received as per Section 10(10D) of the Income Tax Act.
Product Specification:
|
|
Minimum |
Maximum |
|
Entry Age (Last Birthday) |
18 years |
60 years |
|
Maturity Age (Last Birthday) |
- |
80 years |
|
Policy Term (PT) in years |
10 |
40 & Entry age - 80 |
|
Premium Paying Term (PPT) in years |
Equal to policy term |
|
|
Premium Paying Frequency |
Annual |
|
|
Yearly Premium |
2500 |
No limit |
|
Sum Assured |
25,00,000 |
No limit |
Details About Premium
Annual premium in Rupees for a non-smoker for a 25 year term
|
Age (in years) / Sum Assured |
50 lakhs |
1 crore |
2.5 crores |
|
35 |
4770 |
8510 |
19,625 |
|
40 |
6740 |
12,300 |
28,800 |
|
45 |
10,250 |
20,000 |
48,750 |
|
50 |
15,250 |
30,000 |
71,250 |
Policy Details
- Grace Period: 30 days grace period is allowed for payment of premium.
- Policy Termination or Surrender Benefit: there is no surrender value under the plan.
- Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.
Additional Features or Riders
The plan offers the following Riders for additional protection:
- Edelweiss Life – Accidental Total & Permanent Disability Rider
- Edelweiss Life – Accidental Death Benefit Rider
- Edelweiss Life – Waiver of Premium Rider
- Saving on premium are given for high sum assured of Rs.25 lakhs and above.
- Saving on premium for female lives.
Exclusions
In case of suicide committed within 12 months of policy inception or revival only 80% of premiums paid are returned to the nominee.
Documents Required
Policyholder has to fill up an ‘Application form/ proposal form’ online and provide self-attested copies of KYC/AML Documents.
| You May like to Read: Edelweiss Tokio Term Plan |
Note: Check all the best term insurance plan in India.
Note: You should also check the benefits of term life insurance if you are planning to purchase the term insurance plan.
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˜Top plans are based on annualized premium, for bookings made through https://www.policybazaar.com in FY 25.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
+Rs. 487/month (Rs.16/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale
Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.
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+Rs. 820/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
+Rs. 1,443/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
˜ Policybazaar Promise reflects the guarantee offered by insurers. Price assurance is based on certifications shared by insurers with us.
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