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Edelweiss Tokio Life Insurance, the latest entrant to the life insurance market has launched ‘Save n Grow Plan’, an endowment plan with increasing protection over the policy term and ‘MultiGain Plan’, an endowment scheme with regular cash back.
The ‘Save n Grow Plan’ is designed for customers who have a mid- to long-term investment horizon for regular accumulation of wealth to achieve their long term goals with low or medium risk appetite. The plan offers a policy term of 15, 20, 25 and 30 years and the customer has an option of paying premium for only 10 or 15 years or paying it throughout the policy term. On death of a policyholder, his family gets sum assured along with the increasing benefit of 15 per cent of sum assured every 5th year from the policy inception.
The ‘MultiGain Plan’ is suitable for customers with a short term investment horizon with a medium to low risk appetite. The plan offers a money back feature as a part of the survival benefits through which a customer receives 20 per cent of the sum assured at an interval of every 1/5th of policy term. On maturity of the policy, customer will receive 20 per cent of the sum assured along with the accrued bonuses. The plan offers a policy term of 20, 25 and 30 years.
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