Edelweiss Tokio Life Insurance Company has introduced three wealth accumulation plans to serve different wealth creation and protection needs of the Indian customers.
The three plans include Cover Plus, Comprehensive Cover and Accelerated Cover that serve specific customer needs and have relatively low premium structure with better accumulated benefits, said the company.
The Cover Plus plan includes death benefit and maturity benefit as both fund value and sum assured is paid on death of the life assured.
According to the company, the Comprehensive Cover plan entails importance to life protection, with additional monthly payouts ensuring income continuity in an unfortunate circumstance.
The Accelerated Cover will accumulate savings as it offers a higher contribution towards savings and therefore has a higher Maturity Value.
Edelweiss Tokio Life CEO Deepak Mittal said that each product is personalized with unique features to meet customer needs of structured wealth accumulation and commensurate cover.
The new plans enable customers to switch to switching between funds, access to loans, options to pay premium for a limited period, and flexible policy tenure.