Current Affairs PDF

Edelweiss Tokio Life Insurance Launches ‘Covid Shield+’, India’s First Individual Covid-19 Life Insurance Policy

AffairsCloud YouTube Channel - Click Here

AffairsCloud APP Click Here

Edelweiss Tokio launched Covid-19 life insurance product 'Covid Shield+'On November 9, 2020 Edelweiss Tokio Life Insurance Company Limited launched, ‘Covid Shield+’, India’s First Individual Covid-19 Life Insurance Policy. The comprehensive solution provides financial protection against the impact of COVID-19 diagnosis.

Key Info

i.Covid Shield+ establishes  a new niche product category for the industry, that meets the increased protection needs of the people, that arises due to pandemic.

ii.The cost effective product requires no medical examination and provides instant decisioning to the policy applicant.

About Covid Shield+:

Tenure and Premium Rates

Covid Shield+ has a 1 year tenure. The premium rates starts from Rs  5,329

Critical illness benefit

It offers a critical illness benefit of minimum Rs. 10 lakh after 24 hour ICU(Intensive Care Units) or HDU(High Dependency Unit) hospitalization due to COVID-19.

Term cover benefit

The policy also offers a Term cover benefit of Rs. 25 Lakhs (minimum enhanced sum assured) after the diagnosis of  COVID-19

Purchase and Age Bracket

People within the age of 18 to 65 years can purchase this product online or through an advisor representing Edelweiss Tokio Life.

Additional Info

Edelweiss Tokio Life Insurance is a Joint Venture(JV) between Edelweiss Financial Services Ltd, and Tokio Marine Holding, Inc.,

Recent Related News:

Aditya Birla Health Insurance Company Limited (ABHICL), the health insurance arm of Aditya Birla Capital Limited, has introduced new services, product solutions & add-ons to the existing products to enable customers to safeguard their health during COVID-19 i.e., from the 1st stage of virus detection to post-recovery phase covering pre and post-hospitalization expenses.

About Edelweiss Tokio Life Insurance Company Limited:
Managing Director(MD) and Chief Executive Officer(CEO)–  Mr. Sumit Rai
HeadQuarters– Mumbai, Maharashtra
Established– 2011