The benefits of Edelweiss Tokio Life Zindagi Plus Plan are as follows:
- Better-Half Benefit - The policyholder can cover their spouse under the plan. This benefit provides financial protection to the spouse and the family in case of the unfortunate demise of the policyholder. The benefit is 50% of the life cover of the policyholder, up to Rs 1 Crore.
- Top-Up Benefit - Policyholders can increase their life cover on a yearly basis to get their increasing needs met. The life cover can be increased at a rate of 5% or 10% according to one\'s choice. What\'s best is that the benefit increases the base sum assured every year until 60 years of age, till the cumulative top-up benefit becomes equal to basic sum assured, till the remaining policy term is less than 5 years or till the demise of the policyholder, whichever of these options is earlier.
- Life-Stage Benefit - This option allows the policyholder to increase their life cover based on the important stages of their life such as home loan, marriage, child education and more. The sum assured can be increased by a pre-set percentage upon the occurrence of various events.
- Waiver of Premium Benefit - This policy takes care of the life assured if they are diagnosed with any of the 35 critical illnesses mentioned under this plan. It must be noted that all the future premiums are waived off and the policy benefits continue without any change.
- Tax Benefits - Tax benefits on premium paid qualify for tax benefits as per Income Tax Act, 1961.
Key Inclusions and Exclusions of the Plan
- Death benefit
- Better half benefit
- Top-up benefit
- Life-stage benefit
- Waiver of premium benefit
What's Not Included
- Self-inflicted injury
- Death due to war, invasion, terrorist activities
- Accidental death under or due to influence of drugs, alcohol
- All types of tumors under Cancer of specified severity
- Suicide by policyholder within 12 months of policy inception (only 80% premiums will be payable)