Chennai, January, 2023: In a bid to enhance customer experience and provide innovative solutions, CSB Bank said it will offer Edelweiss Tokio Life Insurance’s latest income offering, Premier Guaranteed STAR.
The product aims to secure an individual’s future goals and aspirations by ensuring guaranteed regular income till policy term, provided all due premiums are paid. Premier Guaranteed STAR offers the option of guaranteed regular income and / or guaranteed lump sum on maturity. It offers survival benefits in the form of Income Benefit Pay-outs during the policy term for different durations like 10, 15, 20, 25 and 30 years.
It also offers the flexibility of planning longer-term goals like financial preparedness for child’s education, retirement and more.
Pralay Mondal, MD & CEO, CSB Bank said,“We at CSB Bank are always looking for innovative product solutions to ensure our customers are equipped with sound financial tools that meet their requirements. This association will enable our customers to access the necessary financial assurance that covers them suitably in the advent of any eventuality. Their expertise in insurance space along with our distribution channels will ensure that customers benefit from this unique income solution.”
Sumit Rai, MD & CEO, Edelweiss Tokio Life Insurance said, “We don’t have a linear approach to product creation. Customer insights guide our product designing process and a key part of working with partners is being able to offer them products that prove useful to their niche customer base. In our multiple interactions with CSB Bank, we realised that customers are looking for a simple tool to manage financial contingencies and build a second income stream, which is guaranteed in nature. That’s what led to the creation of Premier Guaranteed STAR, which is a flexible, guaranteed, and transparent means of building an alternate income stream.”
Premier Guaranteed Star comes with six optional riders, which include Edelweiss Tokio Life – Accidental Death Benefit Rider, Accidental Total and Permanent Disability Rider, Critical illness riders and more to enhance your protection at an additional premium. The plan offers tax benefits, and the customers can also avail a loan worth 60% of the total surrender value.