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

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