Edelweiss Tokio Life Insurance

Edelweiss Tokio Life Insurance is a joint venture established in 2011 between Edelweiss Financial Services, India's leading diversified financial services companies, and Tokio Marine Holdings Inc., one of the largest Japanese insurance companies. Edelweiss Tokio brings together the values of both these companies to provide customer-centric and value-based services to people all across India. Its products are designed to benefit all the sections of the society and its policies provide all-round life cover to help people realize their dreams without worrying about unfortunate events and their impact on their loved ones. It has over 49,000 agents operating in 121 branches, across 93 locations in India.

Plans Offered By Edelweiss Tokio Life Insurance

1. Edelweiss Tokio Term Insurance Plans

i) Edelweiss Tokio Life – Zindagi+

Edelweiss Tokio Life – Zindagi+ is an individual, non-linked and non-participating pure risk premium life insurance product that provides life cover to the insured and the spouse with a host of additional benefits.

Eligibility Criteria & Highlights

Features

• The main feature of the policy is its additional cover to the spouse in case of the unfortunate death of the policyholder.
• To meet his growing financial needs, the policyholder can increase the life cover through the top-up benefit.
• Along with the top-up benefit, the plan provides a life stage benefit, under which the policyholder can increase the life cover throughout the different stages of his life.

ii) Edelweiss Tokio Life – My Term + NEW

Edelweiss Tokio Life – My Term + NEW is an individual, non-linked and non-participating pure risk premium life insurance product that provides life insurance cover to the policyholder and his spouse with an added benefit of a limited premium payment term.

Eligibility Criteria & Highlights

Features

• The plan provides a life cover to the insured and an additional life cover to the spouse through the better-half benefit option.
• If the policyholder is diagnosed with a critical illness, then the policyholder can stop paying additional premiums through the premium waiver rider.
• The plan also provides three death benefit payout options – Lump sum, Monthly Income, and Combination of the first two.

iii) Edelweiss Tokio Life – Simply Protect

Edelweiss Tokio Life – Simply Protect is a term insurance plan that protects the family of the insured in case of his unfortunate death.

Eligibility Criteria & Highlights

Features

The plan comes with 4 options that the policyholder can choose from:

• Life Cover
• Life Cover + Accidental death benefit
• Life cover + Waiver of Future Premiums payable on Accidental Total and Permanent Disability
• Life cover + Waiver of Future Premiums payable on Critical Illness

• On the diagnosis of a critical illness or disability due to an accident, all future premiums are waived off.
• There are two death benefit payouts, lump sum, and a monthly income option where 1% of the sum assured will be paid monthly for the next 130 months.

iv) Edelweiss Tokio Life – Protection

Edelweiss Tokio Life – Protection is a risk cover term insurance plan that provides financial protection to the insured’s family in case of his unfortunate death.

Eligibility Criteria & Highlights

Features

• The plan provides flexibility to pay a premium for a limited-term, and reap benefits in the form of a risk cover for an extended period of time.
• The nominee gets the sum assured in case of the unfortunate death of the insured, while the policyholder reaps tax benefits under section 80C of the Income Tax Act.

2. Edelweiss Tokio Investment Plans

i) Edelweiss Tokio Life – Wealth Secure+

Edelweiss Tokio Life – Wealth Secure+ is a unit-linked, non-participating and individual life insurance plan that provides a life cover to the insured, with an option to add his family members and generate wealth from investing the premium in well-performing funds.

Eligibility Criteria & Highlights

Features

The plan has the following three variants to choose from:

• Individual option, where the insured is covered.
• Joint Life option, where the spouse of the insured is covered too.
• Child option, where the policy continues after the insured’s demise and the child receives the benefits of the policy.

• The policy is affordable with premiums starting from Rs. 1,000 per month.
• The plan offers a Systematic Withdrawal option, where a pre-decided percentage of the fund value can be withdrawn at the end of the policy term, which makes it an effective protection post-retirement

The policyholder has the option to park his premium in any of the two strategies:

• Life stage & duration based strategy
• Self-managed strategy

ii) Edelweiss Tokio Life – GCAP

Edelweiss Tokio Life – GCAP is an individual, non-linked and non-participating savings life insurance product that offers life insurance with the benefit of earning guaranteed returns on maturity.

Eligibility Criteria & Highlights

Features

• The plan offers guaranteed accrual additions from the 9th policy year and provides protection against 12 critical illnesses as well.
• The insured can also avail loan up to 90% of the surrender value under this policy.

iii) Edelweiss Tokio Life – Income Builder

Edelweiss Tokio Life – Income Builder is an individual, non-linked and non-participating savings life insurance product that provides a tax-free regular income to the insured which is also provided to the family in case of his unfortunate death.

Eligibility Criteria & Highlights

Features

The plan offers two maturity benefit options:

• Regular income option, where a regular income will be paid in chosen installments during the payout period.
• Regular Income + Lump Sum, where after the regular income a lump sum amount is paid.

The insured also gets two plan options:

• Base plan, where the maturity benefit is paid at the end of the policy period and a life insurance cover is provided.
• Secured Income, where the family of the deceased will get regular income in the form of payouts and all other future premiums will be waived after the death of the insured, or if he is diagnosed with a critical illness.

The policyholder gets the freedom to choose the date from which he wants to receive the regular income, and he has the option to advance the first payout date by 30 days.

iv) Edelweiss Tokio Life – Wealth Gain+

Edelweiss Tokio Life – Wealth Gain+ a unit-linked, non-participating and individual life insurance product that provides a double benefit of insurance cover and wealth accumulation.

Eligibility Criteria & Highlights

Features

• The plan allows the insured to invest 100% of his premium in the funds of his choice, which has zero premium allocation charges and zero policy administration charges.
• Mortality charges will be refunded on maturity, and the insured has the flexibility to choose from 7 different individual funds to suit his investment needs.
• If the insured continues the policy for more than 10 years, he gets the benefits of loyalty additions, and if he continues till the 15th year, he gets booster additions, which add to his savings and maximizes his returns from the money he has invested in the policy.

v) Edelweiss Tokio Life – Smart Lifestyle

Edelweiss Tokio Life – Smart Lifestyle is an individual, non-linked, participating and savings life insurance product that provides a life insurance cover along with the option to receive guaranteed income through loyalty additions and other benefits.

Eligibility Criteria & Highlights

Features

• The unique feature of the plan is that the sum assured increases every 5 years, without any change in the premium amount, and all the additions and bonuses are calculated on these revised amounts.
• The plan offers two benefits:
  Base option, which provides basic life insurance cover along with the option of wealth generation.
  Family protection option, where after the unfortunate death of the insured, a lump sum is paid to the family, and the full benefits of the policy are provided to the family, and all future premiums are waived off.
• At the end of five years, loyalty additions get accrued which is paid on maturity. Along with this, guaranteed additions are provided and reversionary bonuses declared by the company.

vi) Edelweiss Tokio Life – Dhan Labh

Edelweiss Tokio Life – Dhan Labh is a wealth accumulation endowment plan that provides an insurance cover with guaranteed returns to ensure that the insured and his family are financially well-cared for.

Eligibility Criteria & Highlights

Features

• The plan provides a death benefit and accrued additions on maturity. If the insured survives the policy term he gets the sum assured, thus helping him make the best use of his invested funds.
• The insured can also avail tax benefits under Section 80C of the Income Tax Act, 1961.

vii) Edelweiss Tokio Life – Wealth Plus

Edelweiss Tokio Life – Wealth Plus is a unit-linked, non-participating and individual life insurance product that provides life cover to the insured and generates wealth by investing 100% of his premium in high-value funds.

Eligibility Criteria & Highlights

Features

• Wealth accumulation is accelerated by allocating additional funds every year until the end of the policy year.
• The policy also offers Rising Star Benefit, which means that after the death of the insured, the death benefit is paid, and all future premiums are waived off, and the policy continues for the child’s benefit.
• Based on your risk profile and investment strategy, the insured has two options to choose from, Life stage and duration based strategy, and Self-managed strategy.

viii) Edelweiss Tokio Life – POS Saral Nivesh

Edelweiss Tokio Life – POS Saral Nivesh is an individual, non-linked, non-participating and savings life insurance product which provides basic life insurance cover at an affordable premium.

Eligibility Criteria & Highlights

Features

• The policy comes in with a guaranteed maturity benefit and a death benefit at affordable premiums.
• The policyholder can avail loans up to 70% of the surrender value and get income tax benefits on the premiums that he pays.

ix) Edelweiss Tokio Life - Wealth Ultima

Edelweiss Tokio Life - Wealth Ultima is a unit-linked, non-participating and individual life insurance product that provides a life cover along with an investment plan that provides wealth generation by investing your hard-earned money in a systematic manner.

Eligibility Criteria & Highlights

Features

The plan provides the benefits with the combination of:

• SMP: Systematic Monthly Plan, where you pay your premiums monthly to provide affordability and it saves you from volatility in the market.
• STP: Systematic Transfer Plan, which helps you manage the asset allocation by either the life stage & duration based STP or the profit-based STP.
• SWP: Systematic Withdrawal Plan, which allows you to withdraw your money in a systematic manner from your fund value.

The plan also offers the three types of additions:

• Guaranteed additions, that adds a guaranteed amount (0.25% of the fund value) every year from the sixth year of the policy.
• Loyalty additions, which are added (0.15% of the fund value) every year from the sixth year of the policy.
• Booster additions, starting from the end of the 10th policy year.

x) Edelweiss Tokio Life – Single Pay Endowment Assurance Plan

Edelweiss Tokio Life – Single Pay Endowment Assurance Plan an individual, non-linked, non-par and savings life insurance product that provides a comprehensive cover with a single premium payment.

Eligibility Criteria & Highlights

Features

• The life insurance cover is 1.25 to 10 times based on the amount of premium chosen, thus providing flexibility and affordability.
• The insured can also avail loan on the policy, and reap tax benefit on the premium paid.

3. Edelweiss Tokio Retirement Plans

i) Edelweiss Tokio Life – CashFlow Protection Plus

Edelweiss Tokio Life – CashFlow Protection Plus is an individual, non-linked, par and savings life insurance product that provides life cover till 100 years of age, giving benefits even after the premium payment term has ended.

Eligibility Criteria & Highlights

Features

The plan offers the following three benefits along with the comprehensive cover:

• Reversionary Bonus (RB), which will accrue from the first policy year based upon the performance of the fund.
• Money Back, where a benefit equal to 5.5% of the sum assured will be paid annually.
• Cash Bonus (CB), which will be paid annually after the premium payment term till the maturity, based on the performance of the par fund.

The death benefit of the policy includes the sum assured plus the accrued reversionary bonus, which is paid to the beneficiary of the policy.

ii) Edelweiss Tokio Life – Immediate Annuity Plan

Edelweiss Tokio Life – Immediate Annuity Plan is an individual, non-linked and non-participating pure risk premium general annuity product that provides guaranteed annuity benefit after retirement.

Eligibility Criteria & Highlights

Features

The plan offers eight different annuity options to choose from, based on which the survival benefit and death benefit are paid out:

• Life Annuity with Return of Purchase Price (ROP)
• Life Annuity
• Life Annuity Certain for 5, 10, 15, 20 Years
• Life Annuity Increasing at a Simple Rate of 3.0% per annum
• Life Annuity Increasing at a Simple Rate of 5.0% per annum
• Joint Life, Last Survivor
• Joint Life, Last Survivor with 50% annuity
• Joint Life, Last Survivor with Return of Purchase Price on Last Death

iii) Edelweiss Tokio Life – Easy Pension

Edelweiss Tokio Life – Easy Pension a unit-linked retirement solution that provides regular income after retirement with ULIP benefits.

Eligibility Criteria & Highlights

Features

The plan provides regular income to help secure the financial needs of the insured and his family.

Apart from the death benefit, the plan also offers the following options once the insured reaches the vesting age:

• Option to commute the extent allowed under the Income Tax Act, and utilize the amount to purchase an immediate annuity from the same insurer.
• Option to use all the proceeds to purchase a pension plan product from the same company.
• Option to extend the accumulation period within the same policy.

4. Edelweiss Tokio Health Plan

i) Edelweiss Tokio Life -CritiCare+

Edelweiss Tokio Life -CritiCare+ a critical illness plan that provides protection from 17 critical illnesses and provides a lump sum benefit on the diagnosis of any disease.

Eligibility Criteria & Highlights

Features

• The plan offers a multi claim option that provides cover for up to 3 claims for illnesses. After making the first claim from one group of illnesses, the insured can make a claim for other illnesses from different groups.
• Under the multi claim option, all the future premiums are waived after the first claim, so that the insured can concentrate fully on his recovery.
• The plan is a very easy and hassle-free plan, as the claim can be made by directly submitting the diagnosis report and not the hospital bills.

5. Edelweiss Tokio Group Insurance Plans

i) Edelweiss Tokio Life - Group Credit Protection

Edelweiss Tokio Life - Group Credit Protection is a group, non-linked and non-participating pure risk premium life credit insurance product that provides loan cover in case of the non-payment resulting out of the death of the policyholder.

Eligibility Criteria & Highlights

Features

• The plan provides cover against all types of loans, such as personal, home, car, agriculture, credit card, education, and any other loan.
• The plan has a single premium payment method, thus providing flexibility and affordability.

ii) Edelweiss Tokio Life – Pradhan Mantri Jeevan Jyoti Bima Yojana

Edelweiss Tokio Life – Pradhan Mantri Jeevan Jyoti Bima Yojana is a plan designed under the guidelines given by the Government of India. It has been designed for the economically weaker section of the society, who cannot afford to pay higher premiums.

Eligibility Criteria & Highlights

Features

• The plan provides hassle-free and easy processing as there is no medical check-up or assessment needed to avail the policy.
• The annual premium is Rs. 330, thus making it an affordable initiative of the government to help people purchase an affordable life cover and thus ensure their financial security.
• One requisite is that the policyholder needs to have a savings account with a bank, thus introducing the economically weaker section of the society into the country’s financial infrastructure.

iii) Edelweiss Tokio Life – Group Life Protection

Edelweiss Tokio Life – Group Life Protection is a group, non-linked and non-participating life pure risk premium one-year renewable insurance product that provides life cover to the members of the group and their families in case of the death of the insured.

Eligibility Criteria & Highlights

Features

The plan offers two options:

• Death Benefit option, in which the sum assured will be paid in case of the unfortunate death of the insured.
• Death Benefit with a terminal illness, where there is an additional benefit wherein the sum assured is paid if the insured is diagnosed with a terminal illness.

Since there are no medical tests involved, the insured can acquire this policy in a seamless and hassle-free manner. Apart from this, the insured can enhance the cover using riders at nominal additional costs.

iv) Edelweiss Tokio Life – Group Total Secure

Edelweiss Tokio Life – Group Total Secure is a non-linked and non-participating group credit life insurance plan that provides complete coverage against death, illness, and any disability for the policyholder and the members of his group.

Eligibility Criteria & Highlights

Features

The plan offers flexibility to choose from two different options:

• Life cover, which provides basic life covers.
• Life cover with a terminal illness, which provides life cover and a cover if the insured gets diagnosed with a terminal illness.

The plan also offers two types of coverage:

• Level Sum Assured, where the amount will remain level throughout the policy term.
• Decreasing Sum Assured, where the amount of sum assured decreases over time as the benefit schedule.

The insured also has an option to avail of the joint-life cover, where he can add 2 members, where the sum assured will be paid on the first death basis.

v) Edelweiss Tokio Life – Group Wealth Accumulation

Edelweiss Tokio Life – Group Wealth Accumulation is a non-participating unit-linked group product that is designed for employers to create a fund to provide various benefit schemes like gratuity, leave encashment, etc. for their employees.

Eligibility Criteria & Highlights

Features

• The plan also provides a term insurance cover of Rs. 1,000 for each member of the group, which is payable by the company on his unfortunate death.
• The plan also offers guaranteed loyalty additions that get accrued after each policy year and is added to the scheme chosen by the employer.
• The employer or the policyholder has the option to choose from multiple funds and investment strategies that suits his financial needs and risk-taking abilities.

6. Edelweiss Tokio Micro Insurance Plans

i) Edelweiss Tokio Life – Jan Suraksha

Edelweiss Tokio Life – Jan Suraksha is a non-linked and non-participating group credit life micro-insurance plan that provides a basic life cover to the members or customers of micro-finance institutions such as District Co-operative Banks, Regional Rural Banks, Self Help Groups, NGO’s, etc.

Eligibility Criteria & Highlights

Features

The policyholder has the flexibility to choose the following:

• Coverage type – The level sum assured and decreasing sum assured.
• Single or Joint life cover, where the amount will be payable on the first death basis.
• Premium paying option – Single and Regular pay options.

The plan allows the master policyholder to secure the financial needs of his members and their families in case of the unfortunate deaths of the insured members.

ii) Edelweiss Tokio Life – Raksha Kavach

Edelweiss Tokio Life – Raksha Kavach a non-linked and non-participating micro term assurance plan that is designed as a low premium plan for members living in rural India

Eligibility Criteria & Highlights

Features

• The plan offers flexibility by allowing members to pay through single pay or regular payment options.
• The premiums are kept low so that members of rural India can afford and ensure financial protection for their families.

Why Should You Buy Edelweiss Tokio Life Insurance?

Edelweiss Tokio Life Insurance offers products and services that help customers fulfil their financial needs. The plans and policies are designed to help people take a life cover according to their financial needs, which ensures that each rupee invested not only provides a cover but generates wealth over time. Its simple claim process ensures that customers have a seamless experience, and expert advisors are always available to provide insight, knowledge, and solutions to match products with customer’s needs. All the individual funds selected for ULIP’s are hand-picked due to their continuous positive performance and careful study and analysis are done to help customers achieve their financial goals.

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How To File a Claim For Policies Offered By Edelweiss Tokio Life Insurance?

Edelweiss Tokio Life Insurance has a three-step process for claim processing:

1. Intimation of Claim: The policyholder or the beneficiary needs to intimate the company about the claim by either logging on their website or by visiting the nearest branch.
2. Submission of Documents: Depending upon the type of claim, i.e. death claim, critical illness claim, or disability claim, all the necessary documents need to be submitted.
3. Decision on a claim: Based upon the documents submitted the hospital will take a decision to either approve or reject the claim.