Guaranteed Income Star Plan: Edelweiss Tokyo Life Insurance launches new policy – check details – The Financial Express
Edelweiss Tokio Life Insurance has launched Guaranteed Income Star, an income solution that may help address individual’s short and long-term financial goals.
The insurance company said in a statement that this is a non linked, non-participating life insurance plan designed to provide financial stability to policy holders by ensuring future income requirements with the dual benefits of savings and protection.
Commenting on the plan, Subhrajit Mukhopadhyay, Executive Director, Edelweiss Tokio Life Insurance said, “There is a strong need right now for solutions that offer protection, a steady income, and help individuals secure their long-term financial goals against temporary market movements. Through this product, we intend on bridging that gap to offer customer a protection cushion for their income.”
With ‘Guaranteed Income Star’ plan, customers can plan their income streams to fulfill any requirement from a short-term to a long-term goal through the ‘Flexible Income Option’ or a ‘Large Income Option’.
Key benefits of Guaranteed Income Star plan
Loan on policy: Avail a loan against the insurance policy only in the case of emergencyLump sum Benefit: Option in addition to the income benefit payout Family Income Benefit: Additional optional benefit on critical illness and death or only deathTax benefits: Tax saving under section 80(C) and for maturity benefit under section 10(10D)6 riders to choose from:
Accidental death benefit riderAccidental total and permanent disability riderCritical illness riderWaiver premium riderPayer waiver Benefit riderHospital cash benefit
With the ‘Flexible Income Option’, customers can select their income goal from a multitude of options in which they can begin their payout as early as in the 2nd year of the plan. In the ‘Large Income Option’. income starts post premium paying term till maturity. Both plans can begin with a premium paying term as low as 5 years.
