Private insurer Edelweiss Tokio Life Insurance today launched Cashflow Protection,a non-linked,participating endowment assurance money back participating plan,that enables one to plan for important stages or milestones in life.
The plan aims to cover the need of wealth accumulation,retirement and legacy transfer,the company said in a release issued here.
The entry age of Cashflow Protection is five years with an option of selecting the maturity age as 85,90,95 or 100 years,a protection for the whole life.
“We are indeed delighted to offer Cashflow Protection,a plan that caters to three important milestones,which include wealth accumulation,planning for retirement and building a creating a legacy for children and grandchildren,” Edelweiss Tokio Life Insurance CEO Deepak Mittal said.
The minimum basic sum assured for the plan is Rs 75,000 with no upper limit and premiums are based on the sum assured,premium paying term,entry age and gender of the life assured.
Besides,the the plan also offers sharing of profits enabling one to earn higher returns through additional cash bonus,limited premium paying periods,discounts for higher sum assured and special discounts available for female lives and loans against the policy to meet unforeseen needs.
Edelweiss Tokio Life is a joint venture between Edelweiss Financial Services,a diversified financial services company,and Tokio Marine Holdings Inc,a global leader with over 130 years of experience in the insurance business.