by NR INDRAN / INT

In line with its commitment to provide customers with products that cater to their needs, Edelweiss Tokio Life Insurance Company Limited, the latest new age life insurance company has introduced Edelweiss Tokio Life- Wealth Accumulation (Privilege) a unit linked insurance plan that offers to maximize your investment with low charges & Edelweiss Tokio Life-Wealth Enhancement Ace, a unit linked plan that aims to maximize returns along with sufficient life cover.

One of the key highlights of Edelweiss Tokio Life- Wealth Accumulation (Privilege) is its low allocation charges. The plan has a zero policy administration charge as well as no charges for switching, premium redirection and partial withdrawals. The plan offers the customers the flexibility to pay premiums (minimum of Rs 25,000 per month or Rs 2, 50,000 per annum through top-ups; minimum of Rs 5,000 for top-up) for a limited period (five or seven or ten years) or regular period and enjoy the wealth accumulations and insurance protection over a choice of various policy terms (10, 15, 20, 25 or 30years) and the option to alter sum assured and premium paying term.

Edelweiss Tokio Life-Wealth Enhancement Ace offers customers a flexible and steady way of enhancing wealth. This plan offers the customer the flexibility of paying for cover by a single premium (minimum of Rs 75,000;no limit for maximum) and to enhance wealth further.

The death benefit payable under both plans is the higher of the Fund Value (including top-up Fund Value) or Sum Assured (including top-up Sum Assured),subject to a minimum of 105% of total premiums paid (including top-up).

Both plans offer the choice of five different funds with both Asset Allocation and Stock Selection support provided through new-age Managed Fund. Guaranteed Addition sare offered under the plans from the 8th policy anniversary onwards.

Commenting on the launch of these products, Mr. Deepak Mittal, CEO, Edelweiss Tokio Life Insurance Company Limited said “We are glad to announce the launch of the two new plans that will cater to the wealth accumulation and wealth enhancement needs of the customers. The products have being designed to ensure that a customer enjoys benefits of wealth creation bundled with insurance cover too. These products are designed keeping customer convenience, protection and investment preferences in mind.”

Further customizing the insurance cover to suit changing needs, the plan offers riders that can be bought along with the policy. The Riders available with the plan include-Edelweiss Tokio Life-Accidental Total and Permanent Disability Rider,Edelweiss Tokio Life-Accidental Death Benefit Rider, Edelweiss Tokio Life-Term Rider and Edelweiss Tokio Life-Critical Illness Rider.

The plans offer a 15 day free look period where the customer can go through the policy document and review the terms and conditions of the policy.

The plans offers tax benefits under section 80 C and section 10(10D) of Income Tax Act, 1961.

The company is building a team of Personal Finance Advisors (PFAs) who are trained to adopt the customer centric selling model and recommend products after understanding and analyzing customer needs.

Edelweiss Tokio Life Insurance Company which was launched in July 2011 has successfully been able to build a branch network of 30 branches spread across the states of Maharashtra &Goa, Gujarat, Punjab, Haryana and Delhi. The company aims to strengthen their network to 75 branches, pan India by 2015.

Edelweiss Tokio Life, a life insurance company, is a joint venture between Edelweiss Financial Services, one of India’s leading diversified Financial Services companies and Tokio Marine Holdings Inc. a global leader with over 130 years of experience in the insurance business. This lineage brings together Edelweiss Group’s deep understanding of the Indian customers and Tokio Life’s international benchmarks .The company’s approach is to help its customers meet their life-stage financial goals by providing them innovative insurance products that have been designed with the needs of the Indian customers in mind.

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