Edelweiss General Insurance partners with

 Edelweiss General Insurance partners with InterMiles to
introduce Free Cancellation Travel Insurance

J  Book worry-free, No airline cancellation charge applicable in case of change in travel plans

J  Insurance cover applicable for non-refundable flights as well

J  100% paperless process - End to end digital journey for customers, from buying to claims settlement on the platform

J  Policy valid for Indian Nationals in the age group of 1 day to 70 years old

In its endeavour to add meaningful value to customers, Edelweiss General Insurance (EGI), India’s first cloud-native and one of the fastest growing insurers, has launched Edelweiss Group Domestic Travel Insurance in partnership with InterMiles, a leading travel and lifestyle rewards programme. This product is a free cancellation air travel policy, that takes care of all cancellation concerns customers may have, thus allowing them to be stress free in a volatile environment, where travel plans may keep shifting.

Customers, booking tickets on InterMiles, for travel anywhere in India, can opt for Zero Cancellation, by paying a nominal amount, at the time of booking. The Edelweiss Free Cancellation policy is a full proof cover for travellers, since it covers most of the reasons that lead to ticket cancellation. This policy will allow customers to cancel their flights up to 24 hours before departure in case they are unable to fly due to unavoidable circumstances. Claims will be settled digitally, as per the insurance policy. Free Cancellation allows InterMiles members to get a full refund on airline cancellation penalty and offers complete flexibility to book flight tickets. Members can add the free cancellation policy to their booking regardless of them using cash or Miles to purchase the ticket.

Commenting on the launch, Shanai Ghosh, ED & CEO, Edelweiss General Insurance, said, “Our travel plans sometimes change due to circumstances not under our control and it can end up costing us quite a bit. This hurts especially in current times where people are looking to save all they can. We are excited to partner with InterMiles to help customers plan their travel without any stress. We have integrated our platforms to offer a seamless experience to the customer, especially for claims which is also completely digital. We are consistently looking for opportunities to provide innovative and simple digital solutions to the customers to protect their Health, Lifestyle and other prized possessions.”

Manish Dureja, CEO, InterMiles, said “At InterMiles, our members have always been at the heart of everything we do. Our recent studies and surveys have indicated growing, positive travel sentiment amongst Indians who are craving to break away from mundane daily routines or even just take advantage of a change in scenery offered by the existing work-from-anywhere situation. However, with a constant finger on our members' pulse, we do understand that there are underlying apprehensions when it comes to making and booking travel plans in today’s dynamic, ever-evolving scenario. Our free cancellation product powered by our platform in partnership with Edelweiss has been introduced to reassure our members and help make their travel decisions smoother and easier. This product will give members a full refund of the airline cancellation fee in case their travel plans change thus, empowering them to book worry-free.” 

In the business of loyalty, customer experience is top priority. Displaying agility in business and communication strategies, InterMiles is constantly reinventing to keep up with evolving times, while simultaneously ensuring that every engagement members have with the platform is fulfilling and rewarding.

Visit us: www.edelweissinsurance.com

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Edelweiss Mutual Fund Launches Edelweiss Nifty PSU

 Edelweiss Mutual Fund Launches Edelweiss NIFTY PSU Bond Plus SDL Index Fund – 2026 NFO on March 10, 2021

 

 Key Highlights of the Edelweiss NIFTY PSU Bond Plus SDL Index Fund - 2026:

§  India’s first target-maturity, debt-index fund 

§  Will invest in State Development Loans (SDLs) plus PSU bonds

§  Bond-like structure with fixed maturity - stability and visibility in returns

§  Passively managed Index Fund will keep costs low

§  Lower taxation due to indexation benefit

§  After successful launch of BHARAT Bond ETF along with Government of India, Edelweiss AMC now launches a unique Index Fund different from BHARAT Bond ETF investing in State Development Loans (SDLs) plus PSU bonds*

Edelweiss Asset Management Company Limited, one of India’s fastest growing AMCs, announced the launch of Edelweiss NIFTY PSU Bond Plus SDL Index Fund - 2026 today. Passively managed, this first of its kind index fund will invest in AAA rated PSU Bonds as well as State Development Loans (SDL).

With an investment amount that is as low as INR 5,000/-, the fund will have a defined maturity date of April 30, 2026. At maturity, investors will get back their investment proceeds. The fund will aim to hold the bonds till maturity in order to provide stability and visibility of returns to investors. Taxed at 20% post indexation, this fund will be more tax efficient as compared to traditional avenues.

 “Post the success we’ve seen with corporate bond ETFs with the launch of Bharat Bond last year, it is heartening to now see a significant rise in popularity of target maturity debt funds among investors. Yields have risen in last couple of weeks and this is a good time to invest in a target maturity fund and lock-in investments at higher yields. This index fund can give a fair amount of visible and tax efficient returns, along with higher safety and transparency at a low cost. With the financialization of savings taking centre stage, such solutions will build more investor confidence in debt mutual funds. We are committed to launch more such innovative yet simple solutions for our investors,” commented Radhika Gupta, CEO, Edelweiss Mutual Fund.

 This is a first ever, open-ended, Target Maturity Index Fund that will predominantly invest in the constituents of NIFTY PSU Bond Plus SDL 50:50 Index. Proportion of investments of AAA PSU Bonds and SDLs will be equally divided with a weightage of 50% each. Exposure to any single company’s bonds or loans would be capped at 15% of the corpus. Subsequently, there will be a quarterly rebalancing and review of the index constituents.

 The Edelweiss NIFTY PSU Bond Plus SDL Index Fund – 2026 NFO will be open for subscription between March 10 to March 16, 2021.