Chennai, NFAPost: As the COVID-19 pandemic rages on, providing for loss of income has become a crucial concern for many families. The pandemic is threatening not only lives, but also livelihood and more people are now turning to insurance to safeguard their loved ones. Insurance solutions like Edelweiss Tokio Life – Active Income Plan are helping people avail a dual benefit of life cover and regular income.
Edelweiss Tokio Life – Active Income Plan not only offers a life cover, but also an ideal way to create a steady source of second income so that one’s financial goals are unaffected by uncertain events like a recession or an ongoing pandemic. An early entry stage and a high exit stage offers a longer-term coverage, ensuring complete financial protection for the family in case of any unfortunate event.
If the policyholder dies or is diagnosed with a covered critical illness, the optional Family Income Benefit allows the policyholder’s family to enjoy the benefits without having to pay any future premiums. Moreover, the policyholder’s nominee will receive a lump sum in case of death.
Edelweiss Tokio Life – Active Income Plan can be customised to suit one’s objectives and goals in life. The policyholder can decide when and how they shall receive the income, through the early income, which offers an income starting the second policy year, or Deferred Income, which offers income once the premium paying term ends.
The policyholder can also look to augment the plan and increase his/her family’s financial security by opting for various riders like the Income Benefit Rider, Waiver of Premium Rider and Accidental Death Benefit Rider, among others.
For an individual who might be the sole earner in his/her family, balancing long-term financial goals with the day-to-day financial obligations is a tedious task. There is a high likelihood that one might end up overlooking the need to provide for the financial security that can potentially impact the loved ones. Edelweiss Tokio Life – Active Income Plan has it covered with a stable source of second income.
Edelweiss Tokio Life Insurance Company Limited is a joint venture between Edelweiss Financial Services Limited, one of India’s leading and diversified financial services companies and Tokio Marine Holdings Inc., one of the oldest and largest insurance companies in Japan. Edelweiss Tokio Life Insurance launched its pan-India operations in July 2011, offering proprietary need-based solutions to help customers meet their life stage financial goals. This lineage brings together a deep understanding of customer needs and international expertise. The company is headquartered in Mumbai serving over 2.02 lakh customers through 43,681 personal finance advisors as on March 31, 2019 across 121 branches in 93 major cities.