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Edelweiss Tokio Life Insurance

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Edelweiss Tokio Life Insurance

Overview
Edelweiss Tokio Life Insurance Co. Limited is one of the leading insurance companies in India with a claim settlement ratio of 93.29% and 21, 449 agents throughout the country. There are 91 branches in the country and the company was founded in the year 2011.

The company is a joint venture between Tokio Marine Holdings, one of Japan’s oldest and most reputed insurance players and Edelweiss Financial Services Limited, one of the leading financial services organizations in India. The company offers UILPs, child insurance plans, retirement plans and many other products to customers.

Edelweiss Tokio Life Insurance at a glance
  • High claim settlement ratio of individual claims for FY 2016 - 17 at 93.29%
  • 91 branches pan India in both urban and rural areas
  • 21,449 insurance agents to helps policyholders choose the right plan as per their need.
  • More than 90 branches nationwide and expanding regularly
Edelweiss Tokio Life Insurance Co. Limited Term Plans
There is the Single Pay Term Assurance Plan which comes with guaranteed benefits and a one-time payment of premium. There are death benefit options available as well in tandem with an opportunity to build wealth while getting extensive coverage at the same time. There are guaranteed maturity benefits along with sum assured upon the death of the policy holder.

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 Term Insurance Plans
  • Edelweiss Tokio Life – Total Secure+: Edelweiss Tokio Life – Total Secure+ is a comprehensive online term insurance plan, offering life cover and cover against 35 critical illnesses. The plan offers flexibility to choose the life cover, critical illness benefit, policy term, premium paying term.
  • Edelweiss Tokio Life – MyLife+: Edelweiss Tokio Life – MyLife+ is a term insurance plan offering cover up to 80 years of age with flexible payment options. The plan comes with a choice of 3 additional riders to make the insurance more comprehensive.
  • Edelweiss Tokio Life – SimplyProtect: Edelweiss Tokio Life – SimplyProtect is a term plan offering comprehensive protection. The plan waives off future premiums in case of a disability or a critical illness.
  • Edelweiss Tokio Life – Protection: Edelweiss Tokio Life – Protection is a term insurance plan catering exclusively to the need of risk coverage. The plan offers flexibility to pay premium for a shorter term and avail risk cover for a longer term.
  • Edelweiss Tokio Life – Income Replacement: Edelweiss Tokio Life – Income Replacement is a term insurance plan tailor made to ensure continuity of monthly income for the family after death of bread winner policyholder. The plan offers monthly benefit, increasing at 5% every policy year to the nominee till the end of policy term or 5 years, whichever is later.

1: Edelweiss Tokio Life – This comprehensive online term insurance plan offers life cover and cover against 35 critical illnesses.

Advantages and Benefits
  • Provides life cover & cover against 35 critical illnesses
  • Flexible premium paying term including single pay, limited pay (for 5, 10, 15, 20, 25 years) and regular pay
Features Description
Minimum Entry Age (Last birthday) 18 years
Maximum Entry Age (Last birthday) 65 Years
Maximum Maturity Age (Last birthday) For Benefit Option 1: 80 years
For Benefit Options 2 & 3 : 75 years
Policy Term (in Years) For benefit option 1: Minimum 10 - Maximum 62
For benefit options 2 & 3 : Minimum 10 - Maximum 40
Premium Paying Term (PPT) (in Years) For Benefit Option 1:
  • Single Pay
  • Limited Pay (5, 10, 15, 20, 25)
  • Regular Pay
For benefit options 2 & 3 : Regular Pay
Premium Payment Frequency Annual/Single
Minimum Premium Rs. 3,000
Minimum Sum Assured Base Sum Assured: Rs. 25,00,000
Critical Illness Sum Assured: Rs. 5,00,000
Maximum Sum Assured Base Sum Assured: No Limit, subject to Board approved Underwriting policy.
Critical Illness Sum Assured: Rs. 1,00,00,000 subject to Board approved underwriting policy.

2: Edelweiss Tokio Life – MyLife+: Edelweiss Tokio Life – This term insurance plan offers cover up to 80 years of age with flexible payment options. Comes with a choice of 3 additional riders to make the insurance more comprehensive.

Advantages and Benefits
  • Low cost Term Assurance Plan
  • Option to choose the death benefit as lump sum or a monthly payout or both
  • Option to make your cover more comprehensive through riders
  • Discounts for higher Sum Assured
  • Option to choose cover up to age 80
Features Description
Minimum Entry Age (Last birthday) 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) (in Years) Regular pay
Premium Payment Frequency Annual | Monthly
Minimum Premium Rs 2,500 (Annual) | Rs. 500 (Monthly
Minimum Sum Assured Rs 25,00,000
Maximum Sum Assured No Limit, subject to Underwriting

3: Edelweiss Tokio Life – SimplyProtect: Edelweiss Tokio Life – SimplyProtect offers a comprehensive protection and waives off future premiums in case of a disability or a critical illness.

Advantages and Benefits
  • Low cost Term Assurance Plan
  • Flexibility to choose from four (4) death benefit options
  • Discounts for higher Sum Assured
  • Option to choose cover up to age 80
Features Description
Minimum Entry Age (Last birthday) 18 years
Maximum Entry Age (Last birthday) 65 years
Maximum Maturity Age (Last birthday) 80 years
Policy Term (in Years) 10 to 40
For coverage up to age 80 years : 62 years
Premium Paying Term (PPT) (in Years) Single Pay/ Limited pay of 5,10,15,20 and Regular pay
Premium Payment Frequency Annual/Single
Minimum Premium Rs 3,000
Minimum Sum Assured Rs 25,00,000
Maximum Sum Assured No Limit, subject to underwriting

4: Edelweiss Tokio Life – Protection: This plan offers flexibility to pay premium for a shorter term and avail risk cover for a longer term. There are four additional riders to make the insurance more comprehensive.

Advantages and Benefits
  • Cost friendly solution providing complete protection
  • Limited premium payment option to suit the stability of your current income stream
  • Depending on age, the cover may extend up to 70 years
  • Assurance of protection for a maximum period of 30 years
Features Description
Minimum Entry Age (Last birthday) 18 years
Maximum Entry Age (Last birthday) 60 years
Maximum Maturity Age (Last birthday) 70 years
Policy Term (in Years) 10 to 30 years
Premium Paying Term (PPT) (in Years) Single, 5, 10, 15 and Regular
Premium Payment Frequency Annual
Minimum Sum Assured Rs.15,00, 000/- (multiples of 1,00,000)
Maximum Sum Assured No Limit, subject to underwriting
Discount available for non tobacco user
Discount available for higher Sum Assured

5: Edelweiss Tokio Life – Income Replacement: A tailor made plan to ensure continuity of monthly income for the family after death of bread winner policyholder. The plan offers monthly benefit, increasing at 5% every policy year to the nominee till the end of policy term or 5 years, whichever is later.

Advantages and Benefits
  • Limited premium payment option to suit the stability of your current income stream.
  • Monthly income in the event of pre-mature death.
  • Inflation mitigating benefit by way of fixed 5% increase every year in the monthly income.
  • Lower rates available for leading healthy lifestyle by way of non-consumption of tobacco.
Features Description
Minimum Entry Age (Last birthday) 18 years
Maximum Entry Age (Last birthday) 60 years
Maximum Maturity Age (Last birthday) 70 years
Policy Term (in Years) 10 to 30 years
Premium Paying Term (PPT) (in Years) Single, 5, 10, 15 and Regular
Premium Payment Frequency Annual
Minimum Monthly Benefit Rs.15,000/- (multiple of 1,000)
Sum assured is calculated as: Monthly benefit amount x 12 x Policy term
Maximum Monthly Benefit No Limit, subject to underwriting
Discount available for non tobacco user
Discount available for higher Sum Assured