Edelweiss Tokio Life Insurance Company Limited provides insurance policies to people for their investment requirements. It is a joint venture between Edelweiss Financial Services and Tokio Marine Holdings Inc. The
company has more than 55,000 agents operating in more than 115 branches, across 93 locations in India. Edelweiss Tokio Term Insurance offers several Edelweiss Term plans to its customers such as ULIP, Child, Pension, and Investment
plans.
Edelweiss Tokio Life Insurance Company is a highly customer-centric life insurance provider and has won the 2021- Life Insurance Company of the year at the renowned Quantic Business Media BFSI Excellence Awards.
The term plans offered by Edelweiss Tokio Life offer high coverage at low premiums making it affordable and accessible to all. Alongside, Edelweiss Tokio Term Insurance Plans come with additional riders.
Edelweiss Tokio Life Term Insurance Plans
To secure your family's needs, Edelweiss Tokio Life Term Insurance offers two-term insurance plans, from which you can choose a well-suited plan for yourself:
Edelweiss Tokio Life Zindagi Plus Plan
A term insurance plan that covers COVID-19 death claims offers additional life cover to your spouse in your absence and discounts on high sum assured.
Unique Features
Covers Covid-19 death
Better half benefit option
No medical test
Edelweiss Tokio Life Saral Jeevan Bima
A simple term insurance plan to cover your family with a limited pay option, tax benefits and flexible policy terms.
Unique Features
Life Cover
Flexible policy term
Tax Benefit
Edelweiss Tokio Total Protect Plus
Provides all-round financial protection to your family in your absence. It also provides coverage to your better half in the same plan at a little extra cost.
Unique Features
Child Future Protection Benefit
Discounted Premiums
Entry Age: 18-55 Years
Key Features of Edelweiss Tokio Term Insurance Company
Edelweiss Tokio Term Insurance offers an economical way of securing your family after you. Let's have a look at some of the brilliant features of the policy making it one of the best available term insurance plans
in the domain.
Annual Premium: As per the IRDAI report 2021-22, Edelweiss Tokio Life Term Insurance recorded an annual premium of Rs. 2,207.30 Crores.
Solvency Ratio: The solvency ratio of the company helps an individual ascertain the company's ability to meet its long-term financial obligations. The Solvency Ratio of Edelweiss Tokio Life Term Insurance
company for 2021-22 is 3.09 (As per the IRDAI, it is mandatory for every life insurer to maintain a solvency ratio of 1.5).
Claim Settlement Ratio: The company holds a good and reliable claim settling process with a CSR of 97.03%. (CSR as per IRDAI report of the year 2021-22). The Edelweiss Tokio Term Insurance holds one of the
highest claims settlement ratios amongst all the insurance companies.
Operating Network: Edelweiss Tokio Life Insurance Company has 109 branches across India and additional distribution touch-points through several new tie-ups and partnerships. Apart from its PAN India presence,
Edelweiss Tokio has a wide agent network of over 63000+. Moreover, it also has a strong base of financial consultants.
All You Need To Know About Edelweiss Tokio Term Insurance? Find complete details in one go!
Benefits of Edelweiss Tokio Term Insurance Company
Best Customer Experience: Edelweiss Tokio brings effective solutions to their customers. The insurer tends to look at every product, every service point, and every innovation from their customer's perspective.
Cost-Conscious: Edelweiss Tokio offers cost-effective plans with affordable premiums.
Flexible Plans: Edelweiss Tokio Term Plans offer various coverage options, giving you the freedom to select a plan that meets your needs.
Healthy Lifestyle Benefit: Edelweiss Tokio Life Term Plans recognize and reward individuals who have a healthier lifestyle with their low premium options.
Tax Benefits: Tax Benefits can be availed for premium payments of Edelweiss Tokio Term Plans under sections 80C and 10 (10D) of the income tax act 1961.
Term Insurance at a Reasonable Price: Edelweiss term insurance products provide life protection at a reasonable cost.
Monetary Stability: This term plan guarantees your family's financial security even in the unfortunate event of your demise.
Extra Benefits: For an additional fee, you can add a variety of riders and add-on benefits to the base policy, including critical illness coverage, accidental coverage, and others, as needed.
Safeguarding your family: The Term Plan offers additional life coverage for your spouse or child, respectively, with many add-on benefits such as Better Half Benefit and Child's Future Protect Benefit.
Coverage of Covid-19: This term plan covers fatalities brought on by the Coronavirus outbreak. This guarantees the family's total financial security during these difficult times.
Peace of mind: This term plan offers your family financial security, allowing you to live well without worrying about the future.
Long-Term Protection : Edelweiss’s Term insurance products offer more coverage for you and your family throughout your life. They provide you life-long coverage up to the age of 100, under the life cover option.
Who Should Buy an Edelweiss Term Insurance Plan
Edelweiss Term insurance is an ideal choice for people who want to ensure their family's financial security in case of their untimely death. Here are some specific groups of people who should consider buying an Edelweiss Tokio term insurance plan:
Breadwinners: If you are the sole or primary breadwinner of your family, you should consider buying an Edelweiss term plan to ensure that your family's financial needs are taken care of in case of your untimely demise. Your death could leave your family without a steady source of income, making it difficult for them to pay their bills and maintain their lifestyle.
Young parents: If you are a young parent, you should consider buying an Edelweiss Tokio term insurance plan to ensure that your children's education and other expenses are taken care of in case of your untimely death. This term insurance can provide a lump sum payout that can help your family pay for your children's education and other expenses.
Newlyweds: If you are newlywed, consider buying an Edelweiss Tokio term plan to ensure that your spouse's financial needs are taken care of in case of your untimely death. If your partner is not earning, your death could leave them without a source of income, making it difficult for them to maintain their lifestyle.
Business owners: If you are a business owner, you should consider buying an Edelweiss term insurance plan to ensure that your business can continue to operate in case of your untimely death. This term insurance can provide a lump sum payout that can help your business pay off its debts and continue to operate.
Homeowners: If you own a home, you should consider buying a term insurance plan to ensure that your family can continue to live in the home in case of your untimely death. Term insurance can provide a lump sum payout that can help your family pay off the mortgage and other expenses associated with the home.
Women in the workforce: A large number of women have joined the workforce and are equally contributing to the household budget. The number of people who depend on them has expanded along with the rise in the number of women entering the workforce. To protect their families in their absence, it is crucial that they purchase Edelweiss's term plan.
Retirees: If they have dependents, retired people must purchase this term insurance plan. They can leave their family inheritance by getting a good term plan. When the insured person dies, the beneficiaries of the term insurance receive a payout.
SIP Investors: Investors who use mutual funds as their primary source of income through SIP investing. However, if the investor passes away, the funds would stop flowing and the investment plan would expire. In this case, this term insurance plan will shield the SIP by providing the money needed by recipients to maintain the scheduled payments.
This rider safeguards the future of your loved ones in case of an accident causing your untimely demise and provides additional financial assistance. The entry age for this rider spans from 18 to 65 years. The policy term for
this rider ranges from 5 to 52 years with maturity age between 23 to 70 years and a flexible premium payment option.
Accidental Total and Permanent Disability Rider
It can be a difficult task when an accident leaves you with a disability and hampers your ability to create consistent income for your family. This additional rider helps you deal with any immediate expenses in case of any
permanent disability. The entry age for this rider spans from 18 to 65 years. The policy term for this rider ranges from 5 to 52 years with maturity age between 23 to 70 years and a flexible premium payment option.
Critical Illness Rider
An additional rider designed to cover the insured life in case of any critical illnesses diagnosed. The critical illness covered under this rider is- cancer of specified severity, open chest CABG, Myocardial infraction (First
heart attack of specific severity), open heart replacement or repair of heart valves, kidney failure, requiring regular dialysis, third-degree burns, major organ/bone marrow transplant and more. The entry age for this rider
spans from 18 to 65 years. The policy term for this rider ranges from 5 to 52 years with maturity age between 23 to 70 years and a flexible premium payment option.
Hospital Cash Benefit Rider
Hospitalization can be a costly affair and hence Edelweiss Tokio offers this additional rider. With this rider, you get a minimum of Rs.1000 and a maximum of Rs.6000 from the first day of hospitalization under the daily cash
benefit. The entry age for this rider spans from 18 to 65 years. The policy term for this rider ranges from 5 to 52 years with maturity age between 23 to 70 years and a flexible premium payment option.
Calculate Edelweiss Tokio Term Insurance Premium
To calculate Edelweiss Tokio Term Insurance Premiums, policyholders can turn to Edelweiss Tokio Term Insurance Premium Calculator. It is an online tool that allows the policyholder to calculate their term plan premiums in advance.
Take a look below at some of the sample premiums of Edelweiss Tokio Term plans:
Edelweiss Tokio Zindagi Plus Term Plan
Sum Assured (in Rs.)
55 Lakhs
65 Lakhs
1 Crore
Monthly Premium Payable(in Rs.)
646
744
997
* Premiums calculated for a 30-year old, non-smoker male. Chosen plan option is “Better Half Benefit†with a premium payment term of 40 years.
How To Buy Edelweiss Tokio Term Insurance Plans?
Edelweiss Tokio Life allows you to buy a term insurance plan via two platforms. You can either buy the plan online from the official website of the company or through third-party intermediaries like agents, brokers, etc. Given below
is a detailed explanation of both these types of the buying process.
Steps to buy from Edelweiss Tokio Life Insurance company
Visit the official website of Edelweiss Tokio Life Insurance Company.
Click on 'Our Products' on the navigation bar and select 'Term Insurance Plans'.
Click on 'know more' for “Saral Jeevan†or “Zindagi Plus†plan
Tap on 'next' and select a plan as per your requirements.
Select the cover option you want and make your payment.
**Once the payment is made, you will get a payment confirmation at your registered email address.
Steps to buy from PolicyX.com
Fill out the form given at the top of this page with the necessary details.
Select your income and city. Click on 'Proceed'.
Update your education and occupation details.
Choose your preferred plan and click on 'Buy this plan'.
Select policy term, premium period, and riders (if required) and then proceed to do the payment.
**Once the payment is made, you will get a payment confirmation at your registered email address.
How to File Edelweiss Tokio Term Insurance Claims?
Filing a claim for Edelweiss Tokio Term Plan is a simple and hassle-free task. You can easily fill and submit their claims online or offline. To file a claim for Edelweiss Tokio Term Plan, you need to follow the below-mentioned steps.
1. Claim Intimation
Inform the company about the incident via various channels- by writing an email at claims@edelweisstokio.in, calling on the toll-free number (1800 2121 212), filling the online claim form on its website, or by visiting the nearest
branch. The following details have to be provided during the intimation of your claim:
Name of the policyholder
Policy number
Date of death/event of the life assured
Nominee name
Cause of death
Contact details
A claim reference number/intimation number will be provided to you upon successful registration of the claim.
2. Document Submission
Submit the necessary documents requested by the company to process the claim. In the case of natural death-
Death claim form.
Death certificate.
Original policy documents.
Claimant's identity & residence proof.
Medical records at the time of death & past illnesses.
Account details of the nominee.
In the case of unnatural death (Accidental death/Murder/Suicide)-
Death claim form.
Death certificate.
Account details of the nominee.
Original policy documents.
Claimant's identity & residence proof.
FIR, police inquest report & panchanama
Post mortem report.
3. Claim Settlement
After receiving all the documents and claim forms, the company will verify the details as per their norms. On successful completion, the claim will be settled and the amount will be transferred to the nominee's bank account and the
same will be communicated to him/her over call or email.
How to Contact Edelweiss Tokio Life Insurance Company?
6th Floor, Tower 3, Wing 'B', Kohinoor City, Kirol Road, Kurla (W), Mumbai – 400070
care@edelweisstokio.in
Toll-Free Number: 1800 212 1212 (Available from 9:00 am to 9:00 pm IST)
1. What is the Better Half Benefit in the Edelweiss Tokio term plan?
With this benefit, you can give your partner additional Life Insurance up to 50% of your term plan coverage in your absence.
2. Where is the Edelweiss Tokio Term Plan calculator available?
Edelweiss Tokio Term Plan calculator is available on the PolicyX.com website in the term insurance section.
3. How I can pay the premium of the Edelweiss Tokio Term plan? What are the payment options offered by the Edelweiss Term Insurance?
You can pay your Edelweiss Term plan premium online as well as offline.
Online Mode
Debit Card
Credit Card
Net Banking
UPI
Offline Mode
Cash
Cheque
DD
ECS
IVRS
4. What effect does a customer's smoking habits have on the premium calculation at Edelweiss Tokio Life Insurance?
According to the Edelweiss Tokio Life Insurance Company, smokers are at a higher risk. Hence, the premium amount of smokers is higher than for non-smokers.
5. Why should I opt for Edelweiss Tokio Life Saral Jeevan Bima?
It is a simple and easy-to-navigate pure-term insurance plan designed to protect your family. It not only covers your financial needs but provides you the flexibility to choose premium payment terms.
6. What is the minimum and maximum policy Term for Edelweiss Tokio Saral Jeevan Bima plan?
The minimum policy term is 5 years and the maximum policy term is 40 years.
7. How long do I need to pay premiums and at what frequency?
For a regular pay plan, you need to pay your premiums for the same duration as that of your policy term. For limited pay, you can pay the premium for 5 or 10 years. For single pay, you have to premium only once.
For regular pay and limited pay, you can decide to pay your premiums yearly, half-yearly, or monthly.
8. What is the minimum and maximum maturity age for Saral Jeevan Bima?
The minimum maturity age is 23 years and the maximum maturity age is 70 years.
9. What are the minimum and maximum entry age for Saral Jeevan Bima?
The minimum entry age is 18 years and the maximum entry age is 65 years.
10. Does Saral Jeevan Bima have a maturity benefit?
As this is a pure term plan, Saral Jeevan Bima has no benefits on maturity.
11. Should I opt for Edelweiss Tokio Zindagi Plus plan?
It is a comprehensive term plan that provides protection to your family, It takes care of your changing responsibilities and increasing cost of living along with your present requirements.
12. Does Edelweiss Tokio Zindagi Plus cover Covid-19 death claims?
Yes, this plan covers deaths due to Covid-19
13. What is the better half-benefit option?
This additional benefit provides covers for your spouse. Better Half benefit sum assured is 50% of the base sum assured. This benefit can be selected at the policy inception and if you meet the following requirements:
You should be married
The age difference between you and your spouse is less than or equal to 10 years
The policy is accepted at standard rates at policy issuance.
14. What is the hospital cash benefit rider in Edelweiss Tokio Term Insurance?
This rider offers a minimum of Rs 1000 and a maximum of Rs 6000, under the daily cash benefit, starting on the first day of hospitalization.
15. Does Edelweiss Tokio Term Insurance have critical illness coverage?
Yes, this term Insurance has a critical illness rider. The rider provides coverage for a variety of conditions, including myocardial infarction (first heart attack of a defined severity), cancer of a specific severity, open chest CABG, open heart replacement or repair of heart valves, kidney failure needing frequent dialysis, third-degree burns, major organ/bone marrow transplant, and more.
Edelweiss Tokio Term Insurance Reviews
Read what our customers have to say about Edelweiss Tokio term insurance company
Sonam Kumari
Agra
September 20, 2021
I am fully happy and satisfied with the service given to me by Edelweiss Tokio Life Insurance. Well done guys. Keep it up.
