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Press Release

Edelweiss Tokio Life launches Legacy Plus, an innovative family proposition

2/22/24 9:34 AM

Mumbai, February 21, 2024: Guided by the customer need for a comprehensive family proposition, Edelweiss Life Insurance has launched Legacy Plus, an innovative participating product that offers life cover for 2 and income lasting 3 generations through a single product.

The product offers an effective way of providing for multiple customer needs including child financial planning, legacy planning and any emergent needs during its tenure. With a view to provide flexibility and liquidity, the product includes Accrual of SurvivalBenefit (optional) feature, and early income.

Commenting on the new product, Subhrajit Mukhopadhyay, Executive Director, Edelweiss Life Insurance said, “An average person typically has 3-4 basic concerns – child’s future, retirement, legacy, any potential contingencies, etc. They want a simple and flexible financial solution to provide for all these needs. Through Legacy Plus, our objective was to provide such a solution to the customer, wherein they can find the means to fulfil multiple aspirations effectively and offer the peace of mind to the entire family that their financial needs are taken care of through a single product.”

Legacy Plus extends personalization to the entire family unit through its optional feature Accrual of Survival Benefit, wherein a policyholder can either withdraw or accumulate income as per their requirements. The product also allows a partial withdrawal of the accumulated corpus as per the financial needs of the policyholder or family. 

The product boasts liquidity through its option of Early Income, which offers income to the policyholder from the end of first year of the policy. 

The product boasts legacy in its true sense through its benefit of Income till 100 years of age. The plan offers income until the end of policy tenure, even in case of the demise of either the Primary or Secondary life insured. This guarantees that at least 3 generations of a family can benefit from the income payout of this plan.


 “We have a demonstrated history of bringing innovative and relevant products to the market which have resonated with the customers. These products are backed by robust investment expertise, as reflected in our consistent record of bonus payouts for the last 10 consecutive years,” Mukhopadhyay added.

Legacy Plus offers 2 base plan options: 

  • Lifelong Income Option: Income till 100 years of age, annual cash bonus (if declared), and a survival/death benefit.
  • Family Secure Option: A joint life cover with the primary life insured being an adult, and the secondary a child, 2 death benefits payable, income till 100 years of age, annual cash bonus (if declared). In case of the death of the Primary Insured, the premium is waived off, policy remains in-force and the income continues till 100 years age of primary insured.

The plan can be enhanced by adding optional features like Accrual of Survival Benefit and additional riders like Waiver of Premium, Payor Waiver Benefit and more.  

About Edelweiss Life Insurance

Edelweiss Life Insurance established nationwide operations in July 2011 with an immovable focus on protecting people’s dreams and aspirations. Guided by customer insights, Edelweiss Life has been offering need-based and innovative life insurance solutions to help customers live their #ZindagiUnlimited. With a customer-centric approach, the company endeavours to build a multi-channel distribution network to effectively serve its customers across the country. As of March 2023, the life insurer has established 109 branches in 88 major cities.

Awards:

Edelweiss Life Insurance has been recognized at multiple and reputed industry forums over the years. Here are some noteworthy awards:

• Ranked #38 in India's Best Companies to Work For 2023 and has received 6 other recognitions in a single year by the Great Place to Work Institute

• Most Trusted BFSI Brands in 2023-2024 by the Marksmen Network

• Employee Excellence Award 2023 by The Economic Times

• Golden Peacock Award 2023 for Risk Management

• Excellence in Customer Experience at The Economic Times CX Summit 2022

• GUINNESS WORLD RECORDS title for collecting the highest number of pledges for organ donation in a single day.

 

To learn more about Edelweiss Life Insurance, please visit www.edelweisslife.in

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