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Edelweiss Life MyLife+ Plan

Edelweiss Life My Life+ is a traditional Term Insurance Plan designed to take care of the protection ned of the policyholder.

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Dedicated claim support for family FREE
Policybazaar team will help and support you at the time of claim. A personal claim handler from our team of experts will get in touch with you when your nominee applies for a claim on our website.
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We will make sure you get what is promised by the advisors. We conduct regular monitoring of our calls to make sure you get the best experience.
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The discounts will be valid for the entire policy payment term and is not available if you choose to buy the insurance through offline agents.
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In case you aren’t happy with your purchase, you can cancel your policy hassle-free at the click of a button. We will help you with the cancellation and refund of your policy.

Key Features

  • It is a pure term insurance plan with regular pay premium paying option.
  • Death Benefit can be availed in either lump sum or in monthly instalments or in a combination of both.

Benefits

  • The nominee gets the Sum Assured (SA) on death of the policyholder which is higher than 10 times the annual premium or 105% of all premiums paid till death under the Lump sum Benefit option.
  • Under the Income Benefit option, 1% of the SA is paid every month form the month following the death of the policyholder for a total of 130 months.
  • For the combination of both benefits, the applicable SA for each benefit is added to the SA of the other and a single policy is issued.
  • Income tax benefit on the premium paid as per Section 80C and on the claims received as per Section 10(10D) of the Income Tax Act.

Product Specification:

 

Minimum

Maximum

Entry Age (Last Birthday)

18 years

60 years

Maturity Age (Last Birthday)

-

80 years

Policy Term (PT) in years

10

40

&

Entry age - 80

Premium Paying Term (PPT) in years

Equal to policy term

Premium Paying Frequency

Annual

Yearly Premium

2500

No limit

Sum Assured

25,00,000

No limit

Life Insurer Details

Details About Premium

Annual premium in Rupees for a non-smoker for a 25 year term 

Age (in years) / Sum Assured

50 lakhs

1 crore

2.5 crores

35

4770

8510

19,625

40

6740

12,300

28,800

45

10,250

20,000

48,750

50

15,250

30,000

71,250

Policy Details

  • Grace Period: 30 days grace period is allowed for payment of premium.
  • Policy Termination or Surrender Benefit: there is no surrender value under the plan.
  • Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.

Additional Features or Riders

The plan offers the following Riders for additional protection:

  • Edelweiss Life – Accidental Total & Permanent Disability Rider
  • Edelweiss Life – Accidental Death Benefit Rider
  • Edelweiss Life – Waiver of Premium Rider
    • Saving on premium are given for high sum assured of Rs.25 lakhs and above.
    • Saving on premium for female lives.

Exclusions

In case of suicide committed within 12 months of policy inception or revival only 80% of premiums paid are returned to the nominee.

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ online and provide self-attested copies of KYC/AML Documents.

You May like to Read: Edelweiss Tokio Term Plan

Premium By Age

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

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