Edelweiss
Tokio Life Insurance leads in getting approval from IRDAI for first-ever POS -
Life Product
The product is simple, transparent, and easy to
buy, offering guaranteed benefits
Mumbai, April 24, 2017: Edelweiss Tokio Life Insurance, the joint
venture between the Edelweiss Group and Tokio Marine Holdings of Japan, has
obtained approval from IRDAI for ‘POS - Saral Nivesh’ ,
which will be sold over the counter for the first time in India under the POS
(Point of Sale) guidelines.
Edelweiss Tokio Life is the first to receive
approval from IRDAI (Insurance Regulatory & Development Authority of India)
to sell such a product through POS, a category which is being explored for the
first time ever in India.
Buying such a product will be useful for someone
who is buying life insurance for the first time, as it is simple to understand
and easy to buy.
The product will be apt for those looking for a simple
proposition and seeking instant gratification, as the decision of buying can be
made in just a few mintues due to the transparency and simplicity of the
product.
The life insurance product will be made available offline as well as online,
to ensure that the buying process is seamless for customers.
Speaking about the development, Deepak Mittal MD
& CEO, Edelweiss Tokio Life said, “We are excited to have received an approval on
POS - Saral Nivesh, which allows a customer to buy insurance at an affordable
premium over the counter in just a few minutes. The purpose of introducing such
a product is to give access to life insurance to a larger section of the
society, thereby increasing insurance penetration in India.
With POS – Saral Nivesh, Edelweiss Tokio Life continues
its practice of offering differentiated solutions to its customers. IRDAI has done a commendable job in conceptualizing
POS guidelines, which will benefit cutomers in many ways, as well as help in
increasing distribution footprint.”
Edelweiss Tokio Life will
soon launch POS Saral Nivesh.
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