Mumbai:
With premium rates starting at only Rs. 5,329, Edelweiss Tokio Life Insurance today announced the launch of Covid Shield+ offering a critical illness benefit of minimum Rs10 lakh post 24-hour ICU or HDU hospitalization owing to Covid-19.
The product, which carries a 1-year tenure, offers a substantial critical illness benefit, a term cover, is cost effective and offers instant decisioning without any medical examination
In addition, on diagnosis of Covid-19, the product also triggers minimum enhanced term cover worth Rs. 25 lakhs sum assured.
Commenting on the product launch, Subhrajit Mukhopadhyay, executive director, Edelweiss Tokio Life Insurance said,“Through our recent customer interactions, we realised that the threat of financial impact has made this disease even more daunting. People are worried that a Covid-19 diagnosis will disrupt their savings and therefore their long-term aspirations. We want to take away that worry from our customers through Covid Shield+ and let them focus on a healthy recovery instead of their finances.”
“There were several factors that contributed to this product design. While ICU/HDU hospitalisation can be an expensive affair, the peripheral and post-hospitalisation costs for recovery are also significant. There is also a considerable risk of income loss if the breadwinner does not survive the disease. Some families are already combating worries of job loss and any huge healthcare expense could completely deplete their savings. Covid Shield+ is a comprehensive solution that provides financial protection against any such eventuality,” Mukhopadhyay added.
Covid Shield+ can be bought online or through an advisor representing Edelweiss Tokio Life by people within the ages of 18 to 65 years.