Established in the year 2011, Edelweiss Tokio Life Insurance Company Ltd is a new age life Insurance company in India. It is a joint venture between Edelweiss, a diversified financial services conglomerate in India, and Tokio Marine, one of the oldest life insurance companies in Japan.
Currently, Tokio Marine owns 26% stake in the joint venture, but it received approval in January 2016 from the Insurance Regulatory Authority of India (IRDAI) to increase its stake to 49%.
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History
Edelweiss Tokio Life Insurance began operations in July 2011 after receiving its registration certificate from IRDAI in May 2011 and one out of 24 life insurance companies in India. Today, it has a PAN India presence with more than 60 branches and 1,500 employees and looking consistent growth.
Edelweiss Tokio Life offered life insurance cover of Rs 1 crore for all the athletes representing India at the Rio Olympics 2016
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Awards
- Morningstar, a global leader in rating fund performance across mutual funds and ULIP's, rated all of Edelweiss Tokio Life Insurance Funds as 5 stars.
- Best life insurer 2016 by Outlook Money.
Products
Edelweiss Tokio Life Insurance offers more than 20 products to cater to retirement, education, critical illness and income replacement needs. It offers products in both the digital as well as offline space. It's product portfolio includes endowment plans, term plans, ULIP's and critical illness plans. Apart from individual plans, it also offers group protection plans.
· TotalSecure+: A comprehensive protection plan with critical illness cover
· MyLife+ is the online term plan
· Wealth Builder is the online endowment plan
· Wealth Accumulation(Accelerated Cover) is a Unit Linked Insurance Plan(ULIP) offered online
· CritiCare+ is the critical illness plan offered online
· Edusave is the children's education plan
· Retirement plans - Pension plans, annuity plans designed for financial security post-retirement
· Group protection plans - For group protection of corporates, small and medium-sized organizations
Source of the article : Wikipedia
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