Edelweiss Tokio Life launches 'Guaranteed Income Star,' a customizable income solution

Accounting for the increasing need for customizable financial solutions, Edelweiss Tokio Life Insurance has launched Guaranteed Income Star, an income solution that helps address individual's short and long-term financial goals.

This non linked, non-participating life insurance plan is designed to provide financial stability to policy holders by ensuring future income requirements with the dual benefits of savings and protection.

Commenting on the new product, Subhrajit Mukhopadhyay, Executive Director, Edelweiss Tokio Life Insurance said, "There is a strong need right now for solutions that offer protection, a steady income, and help individuals secure their long-term financial goals against temporary market movements. Through this product, we intend on bridging that gap to offer customer a protection cushion for their income."

With this plan, customers can plan their income streams to fulfill any requirement from a short-term to a long-term goal through the 'Flexible Income Option' or a 'Large Income Option'.

With the 'Flexible Income Option', customers can select their income goal from a multitude of options in which they can begin their payout as early as in the 2nd year of the plan. In the 'Large Income Option'. income starts post premium paying term till maturity. Both plans can begin with a premium paying term as low as 5 years.

Here are some key benefits and choices that make Guaranteed Income Star a perfect Guaranteed Income Plan:

Other key benefits of the plan:v
1. Loan on policy: Avail a loan against the insurance policy only in the case of emergency

2. Lump sum Benefit: Option in addition to the income benefit payout

3. Family Income Benefit: Additional optional benefit on critical illness and death or only death

4. Tax benefits: Tax saving under section 80(C) and for maturity benefit under section 10(10D)

5. Offers 6 riders to choose from:

- Accidental death benefit rider
- Accidental total and permanent disability rider
- Critical illness rider
- Waiver premium rider
- Payer waiver Benefit rider
- Hospital cash benefit

Shares of Edelweiss Financial Services Limited was last trading in BSE at Rs. 63.20 as compared to the previous close of Rs. 59.35. The total number of shares traded during the day was 1828969 in over 8778 trades.

The stock hit an intraday high of Rs. 65.75 and intraday low of 59.00. The net turnover during the day was Rs. 115072835.00.

Source : Equity Bulls

Keywords

EdelweissFinancialServices INE532F01054 EdelweissTokioLifeInsurance GuaranteedIncomeStar