“This is a welcome move from the regulator. Pure term insurance is integral to the protection needs of families across all strata of the society. While the demand for these policies has been on the rise over the years, the current uncertainty has further amplified the importance of insurance and financial planning for families. To cater to this demand, currently there are various term insurance products in the market that offer various options and features to meet diverse needs of customers. For example, Edelweiss Tokio Life’s Zindagi Plus has a feature which covers the spouse after death of primary life, in addition to the base coverage on primary life.
It is expected that individuals, aided with appropriate advice, should effectively calibrate their own insurance needs and examine the various products available in the market offering different features and options and buy the product that best meets all their needs. However, in reality there are customers who may not be able to evaluate such offerings effectively. For them, to have all life insurance companies sell a standardized product with exactly the same benefits and terms and conditions is a welcome move. Now, someone who wants to buy a basic pure term insurance can simply buy this product. He/she just needs to approach the insurance company of his/her choice”.
Please do let us klnow if you would like to connect with Mr. Mukhopadhyay for further insights on the same.
Subhrajit Mukhopadhyay – ED
Subhrajit Mukhopadhyay is currently the Executive Director of Edelweiss Tokio Life Insurance. He has a robust experience of over two and a half decades in the life insurance sector. He has previously worked with organisations like LIC, Exide Life Insurance. Prior to his current role, he was leading Actuarial and Product Development functions as Chief & Appointed Actuary since 2016. Subhrajit has been instrumental in building robustness in the actuarial function as well as ensuring that Edelweiss Tokio Life continues to be a product innovator in the Life Insurance business. With an interest in diverse subjects ranging from risk management to product management, he is passionate about the evolving digital space, analysing customer behaviour and leading a high-performing team. Subhrajit is a qualified actuary and a Fellow of Institute of Actuaries of India. Subhrajit is married to Mithi and they have two sons, Debaditya and Debamrit. He is a bookworm and loves watching movies. He is a sports enthusiast and his game of choice is Bridge. He has previously won Karnataka State Bridge Championship (Pairs).