The newly launched plans of Edelweiss Tokio Life Insurance help a family maintain the same standard of living in case of the unfortunate death of the chief earning member of the family
Edelweiss Tokio Life Insurance Company, has launched two cost-effective term plans that helps a family maintain the same standard of living in case of the unfortunate death of the chief earning member of the family.
Edelweiss Tokio Life-Protection, a pure term plan provides lump sum payment to the nominee in case of the unfortunate event of the death of the life assured, the income replacement ensures that on death of the life assured the family still continues to receive regular monthly income till the end of the policy term.
Some of the key highlights of the Edelweiss Tokio Life-Protection plan include: lower cost for higher sum assured; assurance of protection for a maximum period of 30 years, depending on age cover may extend upto 70 years; limited premium payment option, which enables you to pay premiums for a shorter term and yet stay covered for a longer term; lower rates rewarding a healthy lifestyle by way of non-consumption of tobacco.
Some of the features of the Edelweiss Tokio Life-Income Replacement plan include: lower cost for higher sum assured; inflation mitigating benefit by way of fixed 5% increase every year in monthly income; limited premium payment option, which enables you to pay premiums for a shorter term and yet stay covered for a longer term; the monthly benefit will be provided for a minimum of five years even if your remaining policy term is less than five years; lower rates rewarding a healthy lifestyle by way of non-consumption of tobacco.
Highlighting the importance of protection, Deepak Mittal, CEO, Edelweiss Tokio Life Insurance Company said, "A sudden unfortunate death of the bread winner of the family could jeopardize dreams and bring about a drastic change in the lifestyle of a family. Our protection and income replacement plans address this core need and provide a cost friendly solution of complete protection of your aspirations for your loved ones."
Ruling out any immediate action, RBI deputy governor Subir Gokarn said there is no change in his earlier statements that if another round of CRR reduction were to happen, it can happen in the policy statement itself and not midway
Mumbai: Reserve Bank of India (RBI) deputy governor Subir Gokarn today said the apex bank will 'consider' a further cut in the cash reserve ratio (CRR) if the systemic liquidity conditions continue to be tight, reports PTI.
"To the extent that an opportunity is available for CRR (which is the percentage of deposits banks have to keep with the central bank,) cut further, we will also consider that," Mr Gokarn, who oversees the monetary policy function at the RBI, told reporters here.
But ruling out any immediate action, he said there is no change in his earlier statements that if another round of CRR reduction were to happen, it can happen in the policy statement itself and not midway.
The mid-quarter review of the monetary policy is scheduled for 15th March and it is widely expected that one more CRR cut could be on the anvil.
Mr Gokarn has been maintaining that a reduction in CRR is a much broader decision which is addressed in the policy rather than the bond buybacks (Open Market Operations) that the central bank has been announcing and carrying out almost on a weekly basis to inject liquidity in the system.
Alarmed by the liquidity deficit, which had banks borrowing up to Rs1.20 lakh crore through the overnight window or the LAF, RBI had cut the CRR by 0.50% in the 24th January policy review to 5.50% but kept the overnight lending rate unchanged, thus maintaining its anti-inflationary stance intact.
However, in spite of the cut which infused about Rs32,000 crore into the system, banks borrowing stood at over Rs1 lakh crore from the LAF (liquidity adjustment facility) corridor, much above the RBI's stated liquidity deficit comfort zone of Rs60,000 crore.
"The issue is in terms of number in the LAF borrowing we have seen as that is an indication of persistent tightness," Mr Gokarn said, adding RBI will continue using the OMO option, through which it has injected over Rs90,000 crore into the system this fiscal, if it feels the need.
He, however, said the situation is very dynamic and that the central bank will not make any commitment by announcing an OMO calendar.
On the inflation situation, Mr Gokarn said newer issues have emerged as the crude prices have gone up in the recent past following the Iranian crisis.
He said Brent crude prices, which accounts for two-thirds of the country's imports, have moved up to $120 a barrel, a nine-month high, as against the RBI's baseline assumption of $110 and said it will continue monitoring the number.
However, the recent appreciation of the rupee is helping as it offsets the impact of rising crude prices, he added.
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