Edelweiss Tokio Term Insurance Plan Benefits Features Details Reviews

Edelweiss Tokio Term Insurance Plan – Life Insurance Company is a life insurance company that started in 2011 and is very focused on its customers. It is a joint venture between Marine Holdings Inc., a 130-year-old Japanese insurance company, and Edelweiss Financial Services, one of India’s leading financial services firms. Together developing into one of India’s leading life insurance companies. With a claim ratio of 93.29 percent, Edelweiss Life Insurance has paid out genuine claims within 24 hours of being notified.

Edelweiss Life offers a protection-focused term insurance plan called the Protection Plan. The primary advantage of this plan is its low cost, with affordable premium payments. In addition, policyholders have access to coverage for up to 30 years. Edelweiss Life’s optional riders can also be purchased by policyholders to further enhance their coverage. Under the Income Tax Act’s Sections 80C and 10(10D), policyholders can also receive tax benefits.

Edelweiss Tokio Term Insurance Plan

Edelweiss Tokio Term Insurance Plan is a great way to protect yourself and your loved ones in the event of an unexpected tragedy. With this policy, you can get coverage for a wide range of events, from death to disability. Plus, the policy is flexible – you can choose which events you want to cover, and you can even add extra protection for your loved ones. So why wait? Get a quote today!

Tokio Life Insurance is a newcomer to the Indian insurance market that offers plans specifically tailored to modern Indian citizens. Edelweiss, a pioneer in India’s financial services industry, and Tokio Marine, a leading life insurance company in Japan, worked together to create the company. tokio controls 74% of the joint venture, while Tokio Marine controls 26%. Edelweiss has 170 branches all over the country, a large clientele of more than 4 lakh, and a staff of more than 3000 people. Life insurance, general insurance, and re-insurance are the primary offerings of its Japan-based insurance subsidiary, Tokio Marine. There are branches of the company in 427 cities and 39 countries.

Edelweiss Tokio Term Insurance Plan

Insurance Plan Edelweiss Tokio Term In India 2022 Details

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About Edelweiss Tokio Term Insurance Plan

Edelweiss has received widespread praise for its dynamic insurance, housing, asset management, capital market, and asset management policies since its entry into the Indian finance market in 1996.A safeguard that guarantees a person’s future safety and security is life insurance. When life insurance policies are combined with additional assistance in the form of healthcare coverage, financial assistance for education, and funds for retirement, investors receive comprehensive security. Edelweiss Life does exactly that!

 Why choose Edelweiss Tokio Life MyLife+?

Edelweiss Tokio Life MyLife+ is the perfect choice for those who want to have comprehensive life insurance coverage. We offer a variety of coverage options that are designed to meet the needs of our customers. We also offer a wide range of benefits, including excellent customer service and24/7 emergency assistance. Thanks to our partnership with Edelweiss, you can be sure that your policy will be fully compliant with all current regulations. Contact us today to learn more about Edelweiss Tokio Life MyLife+.

  • Term Assurance Plan at a low cost
  • You can choose to receive the death benefit in a lump sum, on a monthly basis, or both.
  • You can also add riders to your policy to make it more comprehensive.
  • You can get discounts for higher Sum Assured.
  • Female lives can get lower premium rates.
  • You can choose coverage up to age 80.
  • You can get tax benefits* for the premium and claim amount.

Eligibility Criteria of Edelweiss Tokio Life MyLife+

Minimum Entry Age 18 Years
Maximum Entry Age (Last birthday) 60 Years
Maximum Maturity Age (Last birthday) 80 Years
Policy Term (in Years) 10,15,20,25,30,35,40 and (80 minus entry age)
Premium Paying Term (PPT) Regular pay
Premium Payment Frequency Annual
Minimum Premium Rs 2,500
Maximum Sum Assured No Limit, subject to Underwriting
Minimum Sum Assured Rs 25,00,000

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Plans for Edelweiss Tokio Term Insurance that are the most popular

Edelweiss Tokio Life Insurance offers cutting-edge insurance products to meet your needs for protection and savings. Term insurance is a type of pure life insurance that protects the insured and their heirs financially. A death benefit from the selected term plan will be paid to the nominee in the event of the unfortunate death of the policyholder during the policy’s term.

1.Edelweiss Tokio Life Zindagi Plus

Zindagi Plus is a flexible, innovative term plan with the option to cover your spouse with an additional premium as part of the better half benefit. Additionally, the plan covers 35 critical illnesses, including cancer, kidney failure, heart attack, and others.

Highlighting the Plan’s Features

  • The plan gives you the option to get more coverage by adding a top-up benefit when you pay more premium.
  • The plan covers the death of the life assured due to covid-19.
  • Option to select plan option from life cover with level sum assured or life cover with decreasing sum assured.
  • Option to select waiver of premium benefit on critical illness diagnosis by paying additional premium.
  • You can get a discount for more sum assured on the annualized premium for base sum assured.
  • By paying an additional premium, you can add four riders to your coverage.

2. Edelweiss Tokio Life Simply Protect Plan

Edelweiss Tokio Life Simply Protect Term Plan is an individual pure risk premium insurance product that offers you the chance to protect your loved ones at a very affordable price while also covering your life. The following are the four variations of the plan:

  • Life cover- In the event of the death of the life assured during the plan’s term, the Life Cover Variant pays the sum assured upon death to your nominee either in the form of a lump sum or as an income benefit.
  • Life cover with inbuilt accidental death benefit- In the event of an unfortunate accident-related death of the life insured, this option provides an additional payout in addition to the basic amount guaranteed. In addition to basic life insurance, this variant includes an additional built-in accidental death benefit.
  • Life cover with the inbuilt waiver of premiums on accident total and permanent disability– If the life assured is diagnosed with total and permanent disability as a result of an accident, this variant offers dual benefits—life cover and a waiver of premium benefits.
  • Life cover plan in bill waiver of premium in case of critical illness-In addition to the standard life insurance, this variant includes a benefit that waives premiums automatically. If the life assured is diagnosed with any of the 12 listed critical illnesses—heart attack, cancer, stroke, kidney failure, etc.—the plan’s premium will be waived.

Highlighting of the plan

  • The plan allows you to choose from four different death benefit options.
  • You can also choose life insurance up to the age of 80 to protect your family for a longer period of time.
  • The plan offers a variety of policy terms and premium-paying terms, so you can choose the one that works best for you.
  • It gives discounts for high sum assured and lower premiums for female lives.

Eligibility Conditions

Age at entry Minimum- 18 years

Maximum- 65 years

Age at maturity Maximum- 80 years
Policy term Minimum- 10 years

Maximum- 40 years

Sum assured Minimum- 25 lakh

Maximum- No limit

Premium paying term Regular pay, Single pay, Limited pay of 5 years/ 10 years/ 15 years and 20 years
Premium paying frequency Single and Annual

3. Edelweiss Tokio Life Saral Jeevan Bima plan

The Edelweiss Tokio Life Saral Bima plan offers life insurance and allows you to pay your premiums over five or ten years in a limited pay option, until the end of the policy in a regular pay option, or once in a single pay option. The plan’s frequency of premium payments and mode of premium payments are up to you.

Highlighting Features of the plan

  • The plan has a waiting period of 45 days from the date of risk initiation.
  • If the life assured dies during the waiting period for any reason other than an accident, the plan’s nominee will receive 100% of the premiums paid.
  • The plan covers deaths caused by pandemics like COVID-19.
  • It covers people up to the age of 70. It has a flexible premium payment term, frequency, and policy term.

Eligibility Conditions

Age at entry Minimum- 18 years

Maximum- 65 years

Age at maturity Maximum- 70 years
Policy term Minimum- 5 years

Maximum- 40 years

Sum assured Minimum- INR 5 Lakh

Maximum- INR 2.5 crore

Premium paying term Single pay, limited pay, regular pay
Premium paying frequency Lump-sum for single pay an annual, monthly, semi-annual for regular  and limited pay

4. Edelweiss Tokio Life My Term Plus Plan

My Term In addition to is intended to give extensive protection assurance to you and your loved ones. It not only meets your insurance needs, but it also gives you the flexibility to cover your changing responsibilities and give your loved ones additional life insurance. By selecting convenient term and death benefit options that pay premiums, the plan can be tailored to your needs.

Highlighting Features of the plan

  • The plan offers five limited premium-paying term options.
  • You can choose to receive the death benefit in a lump sum, as a monthly income, or a combination of the two.
  • You can also choose a better half benefit to improve financial security even in the absence of the breadwinner.

Eligibility Conditions

Age at entry Minimum- 18 years

Maximum- 65 years

Age at maturity Minimum- 28 years

Maximum- 85 years

Sum assured Minimum- 25 lakhs

Maximum- No limit

Policy term Minimum- 10 years/ 15 years / 20 years / 25 years (Depending on premium paying term)

Maximum- 85 years less age at entry

Premium payment frequency Monthly, quarterly, semi-annually and annually

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Benefits of Purchasing Edelweiss Tokio Term Insurance Plans

The primary objective of a term insurance plan is to provide protection against life risk. However, term plans also provide a number of additional advantages, which are as follows:

Reliability and affordability-

One of the cheapest insurance options is term insurance, which guarantees that your family will be financially secure even if you are not there. With term insurance, you can rest assured that your loved ones will be okay in the future.

Regular income-

The Edelweiss Tokio term insurance plan gives you the option of getting paid out in one lump sum, monthly, or a combination of the two. You can easily finance not only your immediate financial needs but also your day-to-day expenses with this benefit.

Wider coverage-

Under the better half benefit option of some Edelweiss Tokio term insurance plans, you can add your spouse for an additional premium. By purchasing a premium-free top-up, you can also expand your plan’s coverage. Edelweiss Tokio Life Insurance also offers term plans that cover death from COVID-19.

Waiver of premium-

The life assured loses the ability to earn if they are disabled completely and permanently or diagnosed with a critical illness. In such a situation, a term insurance plan steps in and waives all future premiums to ensure that your term plan does not expire.

Wide options-

Edelweiss Tokio Life offers a wide range of term plans, each with a variety of options. They let you pick the plan that best meets your insurance needs.

Flexibility-

Edelweiss Tokio term insurance plan offers different contract terms, premium paying term and charge paying mode to look over according to your prerequisites. The plans are very adaptable and can be customized to meet each person’s insurance requirements. You can also get more coverage by adding the plan’s various riders.

Easy and simple process-

Edelweiss Tokio Life makes purchasing a plan and filing a claim easy and straightforward. You can also quickly renew your insurance policy by going to the insurance company’s official website. By using your login information, you can also monitor your claim.

Tax benefits-

The tax advantages that term plans provide are yet another significant advantage. Under sections 80C and 10 (10D) of the Income Tax Act, investing in a term plan can help you save money on taxes.

The Edelweiss Tokio Term Insurance Policy covers what?

Edelweiss Tokio Term Insurance policy is designed to cover your assets during a difficult time. Edelweiss Tokio Term Insurance policy provides coverage for your property, possessions, money, and investments. You can also use the policy to cover your liabilities, such as mortgage, car loans, and other debts. Edelweiss Tokio Term Insurance policy can also provide coverage for your loved ones in the event of your death.

Let’s take a look at what is covered by Edelweiss Tokio Life Insurance’s Term plan:

Death benefit-

The fundamental thought process of term plans is to give cover against life risk. Sum assured on death is paid to the nominee or plan beneficiary in the event of the unfortunate death of the life insured during the term of the policy.

Critical illnesses- 

The Edelweiss Tokio Life Zindagi Plus has a critical illness benefit built in that covers 35 listed illnesses and pays a lump sum benefit to the life insured if the covered illness is found. The critical illness benefit helps the life insured and his or her family cover the high cost of a deadly disease’s treatment.

Accidental death-

The insurance company gives the plan’s beneficiary an additional lump sum if an accident results in the death of the life assured. The Edelweiss Tokio Life Simply Protect plan’s life cover with built-in accidental death benefit offers an accidental death benefit.

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Death due to covid-19-

The life risk of covid-19 was covered by Edelweiss Tokio term insurance plans. The beneficiary receives a sum assured upon death from the insurance company in the event that the life assured dies as a result of a pandemic like COVID-19.

Accidental Total and permanent disability-

Accidental total and permanent disability are covered by Edelweiss Tokio Term Insurance. The insurance company will pay for the life assured’s future plan premiums in the event of an accidental permanent and total disability.

The Edelweiss Tokio Term Insurance Policy does not cover what?

If you’re looking for term insurance policies that cover a variety of risks, you might be wondering what the Edelweiss Tokio Term Insurance Policy doesn’t cover. In this article, we’ll outline the specific risks that are not covered by this policy. We’ll also provide a comparison of the Edelweiss Tokio Term Insurance Policy with other term insurance policies on the market.

A list of things that aren’t covered by the term insurance plan is called an exclusion. The following items are excluded from Tokio term insurance:

  • Death of life is guaranteed during the waiting period Death due to excessive intoxication,
  • such as alcohol or drug abuse Death while driving under the influence of alcohol
  • drugs Death in the event of war, strike, or invasion
  • Death of life is guaranteed while participating in illegal activity or any adventurous sports
  • activities Death due to self-inflicted injury

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Claim Procedure for Edelweiss Tokyo Term Insurance

Edelweiss Tokio Life Insurance says it will quickly pay legitimate claims in a way that is fair, open, and easy. It has simplified claim processing into three straightforward steps, which are discussed below:

  1. Reach out to the insurance company-
    The insurance company must be informed online at https://www.edelweisstokio.in/claim/intimation. You can also notify us by calling 1800 212 1212 or the claims mobile number 8879 688 110, or by sending an email to [email protected]
  2. Paperwork for the claim- The details must be included on a properly completed and signed claim form. Send the insurance company the claim form and other documents.

Documents needed to support a Death Claim

  • The original policy document,
  • the claimant’s statement of death,
  • a photo ID and proof of the claimant’s address,
  • a copy of the life assured’s death certificate with a copy of the cause of death Medical records like test reports
  • the death summary on the life assured Employer’s certificate for the salaried policyholder

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