Edelweiss Tokio launches Totalsecure+; life, critical illness cover up to Rs 1 crore
Edelweiss Tokio Life Insurance Company Limited launched ‘Edelweiss Tokio Life - TotalSecure+,’ on September 26 with a view to provide a ‘comprehensive’ protection plan to subscribers.
The insurance would cover a number of critical illnesses up to Rs 1 crore as per the customer’s choice along with providing life insurance up to age 80 with various choices of premium payment terms.
Under Life Cover with ‘Basic Health Cover and Life Cover with ‘Basic Comprehensive Cover’, the coverage is available up to age 75, the company stated.
“TotalSecure+ is a non-participating, non-linked, term insurance plan with three options, Life Cover, Life Cover with ‘Basic Health Cover’ covering 7 Critical Illnesses and Life Cover with ‘Comprehensive Health Cover’ covering 35 Critical Illnesses,” the company stated.
The company said that the insurance provided three death benefit payment options which were lumpsum payment, monthly income or a combination of both, starting from the next policy month anniversary from the date of death, which can be either fixed or increasing and the balance will be received in the form of regular income after death.
“All these three options allow the customer to choose the policy term and customise the plan as per requirement and convenience,” the company said in a statement.
The company stated that the Critical Illness Benefit is an accelerated benefit and not an additional benefit which means the policy will continue with the Death Benefit, reduced to the extent of the Critical Illness Sum Assured already paid.
Deepak Mittal, MD & CEO, Edelweiss Tokio Life Insurance said, “In the case of diagnosis of a critical illness - loss of income, an imperative need to pay off debts and other treatment costs - TotalSecure+ empowers one with complete security.”