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Edelweiss Tokio Life Insurance

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Edelweiss Tokio Life Insurance

Overview
Edelweiss Tokio Life Insurance Co. Limited started its journey in 2011 and is one of India’s foremost insurance companies at present. The company was established as a joint venture entity between Tokio Marine Holdings which is one of the oldest life insurers in Japan and Edelweiss Financial Services Limited, one of India’s fastest growing financial services players. The company offers retirement, investment and child plans to customers among other products.

There are 91 branches across India for the company and the claim settlement ratio stands at 93.29%. The company operates through a vast network of 21, 449 agents in India.

Edelweiss Tokio Life Insurance at a glance
  • Claim settlement ratio of in FY 2016 - 17 at 93.29% for individual claims
  • 91 branches pan India
  • Brand promise highlighting “Insurance se badhkar hai aapki zaroorat”
  • Customer centric advisory process, products, customer service and claims processes

Edelweiss Tokio Life Insurance Co. Limited Pension Plans
There are handy pension plans offered by Edelweiss Tokio Life Insurance Co. Limited. These pension plans take care of monthly income after retirement and help in boosting overall financial security. There are survival and death benefits on offer for customers along riders that offer lump sum amounts with the base plan coverage for higher security and also cover critical illnesses.

Documentation needed to apply for Edelweiss Tokio Life Insurance
  • Age proof - (Any One)
    Driving License, Passport, Voter ID Card, Birth Certificate, etc
  • Identity proof – (Any One)
    Driving License, Passport, Voter ID card, PAN Card, Aadhar Card, or any document which proves citizenship
  • Income proof
  • Address proof – (Any One)
    Driving License, Passport and Utility Bill should clearly mention the permanent address
  • Income proof – (Any One)
    Salary Slip, Form 16, ITR
  • Recent passport size photograph

Edelweiss Tokio Pension Plans
  • Edelweiss Tokio Life – Immediate Annuity Plan: A pension plan offering an annual income post the active working years. The plan allows you to pay once and you start getting lifelong pension immediately. The plan offers 7 annuity options to choose from.
  • Edelweiss Tokio Life – Cash Flow Protection Plus: A pension plan that allows for a free flow of income post the active working years. Money back payout starts one year after the premium paying term and is paid annually on every policy anniversary till maturity or death.
  • Edelweiss Tokio Life – Triple Advantage Plan: A pension plan offering three payouts till maturity.On survival of the life assured up to age of 100, the plan pays out maturity benefit as a combination of the Sum Assured on maturity plus terminal bonus if applicable.
  • Edelweiss Tokio Life – Cash Income: A pension plan that offers a regular, increasing and tax free income for 20 years. The plan further pays out a lump sum amount twice in the policy. On death of the life assured during the policy term, company pays death sum assured.
  • Edelweiss Tokio Life – Pension Plan: A retirement plan offering death and survival benefits for the policyholder. The plan comes with 2 additional riders to make the insurance more comprehensive.
  • Edelweiss Tokio Life – Easy Pension: A unit-linked, retirement solution offering fund value at maturity. The plan also offers Death benefit during and after PPT and a choice of additional riders to make the policy comprehensive.

1: Edelweiss Tokio Life – Immediate Annuity Plan: The plan allows you to pay once and you start getting lifelong pension immediately. The plan offers 7 annuity options to choose from.

Advantages and Benefits
  • Guaranteed annuity benefit
  • Choice of multiple options as per your requirements
  • Pay only once and avail immediate annuity benefits for lifetime
  • Option to avail annuity during your lifetime and leave lump-sum thereafter for your loved ones
Features Description
Entry Age of Annuitant (last birthday) 18 to 85 years
Premium Paying Term Single Pay
Minimum Premium / Purchase Price Rs 100,000
Maximum Premium / Purchase Price No Limit

2: Edelweiss Tokio Life – Cash Flow Protection Plus: Money back payout starts one year after the premium paying term and is paid annually on every policy anniversary till maturity or death.

Advantages and Benefits
  • Guaranteed income and avail protection till age of 100 years
  • Discounts for higher Sum Assured on Maturity
  • Lump-sum at the end of premium payment term
  • Option to make your cover more comprehensive through riders
Features Description
Minimum Entry Age (Last birthday) 91 days
Maximum Entry Age (Last birthday) 55 years
Maximum Maturity Age (Last birthday) 100 years
Policy Term (in Years) 100 years less age at entry of the life insured
Premium Paying Term (PPT) (in Years) 10, 15, 20 and 25 years
Premium Payment Frequency Annual, Semi-annual, Monthly
Minimum Sum Assured (SA) Rs. 2,00,000
Maximum Sum Assured No Limit

3: Edelweiss Tokio Life – Triple Advantage Plan: This plan offers three payouts till maturity. On survival of the life assured up to age of 100, the plan pays out maturity benefit as a combination of the Sum Assured on maturity plus terminal bonus if applicable.

Advantages and Benefits
  • Limited payment periods
  • Get first lump-sum payout at the end of premium payment term
  • Get second lump-sum payout when you reach age 75
  • Get third lump-sum payout on maturity i.e. When you reach age 100
Features Description
Minimum Entry Age (Last birthday) 91 days
Maximum Entry Age (Last birthday) 55 years
Maximum Maturity Age (Last birthday) 100 years
Policy Term (in Years) 100 years less age at entry of the life insured
Premium Paying Term (PPT) (in Years) 10, 15, 20 and 25 years
Premium Payment Frequency Annual, Semi-annual, Monthly
Minimum Sum Assured (SA) Rs. 2,00,000
Maximum Sum Assured No Limit
Sum Assured on Death Higher of:
11 times of the Annualized Premium OR Sum Assured on Maturity

4: Edelweiss Tokio Life – Cash Income: Edelweiss Tokio Life –Offers regular, increasing and tax free income for 20 years. The plan further pays out a lump sum amount twice in the policy. On death of the life assured during the policy term, company pays death sum assured.

Advantages and Benefits
  • Pay premium for 20 years and get protection benefits till 100 years
  • Life cover increases in the first 40 policy years
  • Assured monthly money-back from 21 policy year till 40th policy year
  • A guaranteed lump-sum benefit at the end of 40 policy year
Features Description
Minimum Entry Age (Last birthday) 91 days
Maximum Entry Age (Last birthday) 55 years
Maximum Maturity Age (Last birthday) 100 years
Policy Term (in Years) 100 years less age at entry of the life insured
Premium Paying Term (PPT) (in Years) 20 years
Premium Payment Frequency Annual, Semi-annual, Monthly
Minimum Sum Assured (SA) Rs 2,65,000
Maximum Sum Assured No Limit
Sum Assured on Death 10 times of annualized premium OR 105% of premiums paid till date of death

5: Edelweiss Tokio Life – Pension Plan: This retirement plan offers death and survival benefits for the policyholder. The plan comes with 2 additional riders to make the insurance more comprehensive.

Advantages and Benefits
  • Guaranteed addition of 5% p.a. of cumulative premium for first five policy years
  • Additional benefits through compounded reversionary bonus
  • Choose your vesting age as per your retirement needs
  • Discounts for higher Sum Assured
Features Description
Minimum Entry Age (Last birthday) 18 years
Maximum Entry Age (Last birthday) 65 years
Maximum Maturity Age (Last birthday) 75 years
Policy Term (in Years) Single Pay , 5 Pay , 10 Pay , Regular Pay
Premium Paying Term (PPT) (in Years) Single Pay , 5 Pay , Regular Pay: 10 to 40 years 10 Pay: 11 to 40 years
Premium Payment Frequency Single, Annual, Semi-annual, Quarterly and Monthly
Minimum Sum Assured (SA) Single pay: Rs 125,000; Other pay: Rs 2,00,000
Maximum Sum Assured No Limit

6: Edelweiss Tokio Life – Easy Pension: This unit-linked, retirement solution offers fund value at maturity, death benefit during and after PPT and a choice of additional riders to make the policy comprehensive.

Advantages and Benefits
  • Low Premium Allocation Charge.
  • Guaranteed Loyalty Additions to enhance your return.
  • Choice of terms up to 85 years and full flexibility with Premium Paying Terms.
  • Premiums paying options of single pay, limited pay and regular pay.
  • Simple and easy to buy with minimal process.
  • Option to choose your risk strategy for allocation between funds.
  • Automatic re-allocation of your money to optimize retirement needs.
Features Description
Minimum Entry Age (Last birthday) 18 years
Maximum Entry Age (Last birthday) 75 years
Maximum Maturity Age (Last birthday) 85 years
Policy Term (in Years) 10-67 Years
Premium Paying Term (PPT) (in Years) Single Pay , Limited Pay [5 Pay to (Policy T erm-5)], Regular Pay
Premium Payment Frequency Single Pay , Annual, Semi-annual, Quarterly , Monthly
Minimum Premium Single Pay: Rs. 45,000
Limited/Regular Pay
Annual: Rs 15,000
Semi-Annual: Rs 8,000
Quarterly: Rs 4,000
Monthly: Rs 1,500