Edelweiss Tokio Term Insurance Plan Benefits Features Details Reviews

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+

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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

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

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

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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?

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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