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Last Update: Mon, May 21, 2012 7:36 AM IST (2:06 AM GMT)
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Mumbai: Indian private sector life insurer Edelweiss Tokio Life has launched two life insurance term plans, Life Protection and Income Replacement, to ensure adequate flow of finances even in the event of a sudden death of the bread winner of a family.
The Life Protection is a term plan that provides lump sum payment to a nominee in case of the demise of the life assured, the company said in a statement.
While, the Income Replacement ensures that the family still continues to receive regular monthly income till the end of the policy term on death of the life assured, it said.
“Our protection and income replacement plans address this core need and provide a cost friendly solution of complete protection of your aspirations for your loved ones,” Deepak Mittal, Edelweiss Tokio Life Chief Executive, said in the statement.
The entry age for both the plans starts from 18 years up to 60 years with maturity from 28 years to 70 years.
Edelweiss Tokio Life is a 74:26 joint venture between India's investment banking, broking and financial services company Edelweiss and Japan-based multinational insurance holding firm Tokio Marine Holdings Inc.
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Edelweiss Tokio Life Insurance Co Ltd is an India-based life insurance company. The company is an outcome of joint venture between Edelweiss and Japan-based Tokio Marine Holdings Inc. Its product ...
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