Edelweiss Tokio Life MyLife+ Plan

Edelweiss Tokio Life My Life+ is a traditional Term Insurance Plan designed to take care of the protection ned of the policyholder.

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 Tokio Life – Accidental Total & Permanent Disability Rider
  • Edelweiss Tokio Life – Accidental Death Benefit Rider
  • Edelweiss Tokio 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
Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
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Edelweiss Tokio Life MyLife+ Plan Reviews & Ratings

0 / 5 (Based on 7 Reviews)
(Showing Newest 7 reviews)
Parul
Punjab, August 02, 2021
Inexpensive term plan
My friend is 30 year old and I am 25 years old and noticed a difference in our term plan price. I visited Policybazaar and read some blogs there. I found out that term plans are cheaper if you buy at young age. I am glad to buy this plan at the right time.
Amrita
Chail, August 02, 2021
Tax savings
I recently bought a term insurance policy from the website of Policybazaar. My plan has amazing features and some additional benefits due to an addon. The best part is I can also enjoy a tax rebate. I am so glad to buy this plan.
Pratap
Niwari, August 02, 2021
Purchased Online
My friend asked me to buy a term insurance plan online as it is cheaper and more convenient. I visited the website of Policybazaar and bought a term policy which offers great benefits at cheap rates. My online experience has been great. Thank you team.
Anurag
Modinagar, August 02, 2021
Protection against COVID
The pandemic had me worrying about the future of my family in my absence. I have been searching for a pure insurance policy to safeguard my family against any eventuality. With the help of Policybazaar now I my family is secure as a bought a specialized term plan made to help family of the policyholder.
Kashish
Meerut, August 02, 2021
Best customer service
I did not understand much about insurance but I knew one thing that I needed to secure the future of my family. I took help from the team of Policybazaar and they suggested me what would be best for me. I am happy with my plan. Thank you so much team.
Komal
Palwal, August 02, 2021
Huge coverage
I recently bought a term plan from the website of Policybazaar and I am happy with the product. I got a higher coverage term plan with additional benefits and at cost effective price. Now I am worry free for the future security of my family in my absence. Thanks.
Harisha
Gurgaon, August 02, 2021
Quick to buy
My friend suggested me to buy a term insurance plan online. I visited the website of Policybazaar and it took me about half an hour or maybe less to buy the plan online. The experience was smooth and I am happy with my plan. Kudos team.
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