Max Life Term Insurance vs Edelweiss Tokio Life Term Insurance

Term plans are one of the crucial elements of financial planning. These plans keep your family’s financial future secured in case of your untimely demise. The prime benefit of term insurance is high life cover at low premiums. Term plans also give you the option to add riders to enhance the scope of the base policy. However, to choose the right one, you should compare various term plans as per your requirements. You can check the details of the term insurance plans offered by Max Life Insurance and Edelweiss Tokio Life Insurance to understand their benefits and features.

Max Life Insurance Term Plans vs Edelweiss Tokio Term Insurance Overview

Term Insurance Plans – Max Life Insurance vs Edelweiss Tokio Life Insurance 

Max Life Insurance Company Limited is a Joint Venture between Max Financial Services Limited and Axis Bank Limited. Max Financial Services Ltd. is a part of the Max Group, an Indian multi business corporation. Max Life has a total claims paid ratio of 99.35% as per the annual audited financials for the FY 20-21. Max Life offers comprehensive protection and long-term savings life insurance solutions, through its multichannel distribution including agency and third party distribution partners.

A joint venture between Edelweiss Financial Services Limited and Tokio Marine Holdings Inc., Edelweiss Tokio Life Insurance commenced its business in India in 2011. Since then, the company has had about 121 branches located across 91 cities in the country. The company provides comprehensive insurance solutions following a customer-centric approach and based on the varied requirements of the customers.

You can compare Max Life Insurance and Edelweiss Tokio Life Insurance term plans on the parameters mentioned below and choose the right one according to your requirements.

Term Insurance Plans by Max Life Insurance vs Edelweiss Tokio Life Insurance 

Max Life Insurance Term Plans

• Max Life Insurance offers 3 different term plans named as Max Life Online Term Plan Plus, Max Life Super Term Plan, and Max Life Smart Term Plan backed with various terms and features to fulfill policyholder’s different requirements.
• The term plans offered by Max Life Insurance give comprehensive protection against death, disability, and disease. 
• Max Life term insurance plans are flexible, offering various options to customize the term plans as per one’s need.
• The term plans come with flexible options to increase life cover during essential milestones in life, choose from different premium payment options, and payout options as well.
• Max Life term insurance provides coverage up to 85 years of age. 
• Rider benefit is also available with Max Life term plans which offer additional coverage against various other vulnerabilities.
• Max Life insurance term plans include maturity benefit option wherein the premiums paid are returned on policy maturity.

Why choose Max Life Insurance term plans? 

• Max Life Term plans offer high life cover at affordable premium rates.
• The term plans provide long-term cover till the age of 85 years.
• Max Life Term Insurance plans come with rider benefit options, offering additional coverage options.
• The term plans also feature flexible premium payment options and payout options.
• Term plans under Max Life Insurance offer tax benefits under Section 80C of the Income Tax Act. 

Edelweiss Tokio Life Insurance Term Plans

• Edelweiss Tokio Life Insurance offers 6 different term insurance plans- Edelweiss Tokio Life Zindagi Plus, Edelweiss Tokio Life Saral Jeevan Bima, Edelweiss Tokio Life Simply Protect, Edelweiss Tokio Life Total Protect Plus, Edelweiss Tokio Life My Term Plus and Edelweiss Tokio Life Protection, catering to various needs of the customers at different life stages.
• Edelweiss Tokio term insurance plans come with various beneficial options, including coverage against 35 critical diseases, additional cover for a spouse under the ‘Better -Half’ benefit option, and limited premium payment options.
• The term plans also offer maturity benefit by returning the premiums paid and rider benefit to provide additional life cover.
• Edelweiss Tokio term plans also include different life cover variants, premium payment frequencies, and payout options, allowing the policyholder to customize term plans as per their needs.

Why choose Edelweiss Tokio Life Insurance Term Plans? 

• Under Edelweiss Tokio term plans, you can pay premiums for a limited period (5-10 years) and avail benefits for the entire policy tenure.
• You can cover your spouse within the single Edelweiss Tokio term insurance under the Better-half benefit option.
• The term plans are complete protection plans providing financial safety to the life assured’s loved ones.
• These plans are affordably priced to match everyone’s budget and requirements.
• Edelweiss Tokio term plans also cover COVID-19 death claims.