INSURANCE
Edelweiss Tokio Life Insurance launches ‘POS Saral Nivesh’ plan
May-09-2017

Edelweiss Tokio Life Insurance, the joint venture between the Edelweiss Group and Tokio Marine Holdings of Japan, has launched an over-the-counter life insurance product in India called 'Edelweiss Tokio Life - POS Saral Nivesh’ -- the first product to be approved by the Insurance Regulatory and Development Authority of India's (IRDAI) guidelines on point of sale-life insurance products.

POS Saral Nivesh is a non-linked, non-participating endowment life insurance plan with dual benefits of protection and savings. One can avail this product by paying a minimum premium of Rs 5,000 annually or Rs 1,000 monthly with sum assured ranging between Rs 50,000 and Rs 10,00,000 respectively.

Life policies under this category have simple product features, where benefits are guaranteed and stated upfront. POS products are sold over the counter as they are easy to understand and simple to buy without the requirement of any medical tests.

  RELATED NEWS >>