Edelweiss Term Plan

Name: edelweiss-tokio-life-insurance
Brand: PolicyX
Rating: 4.8 (5 reviews)

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.

Features of Edelweiss Tokio Term Life Insurance

Long Term Protection

It provides long-term comprehensive protection to the policyholder & the family members.

Flexible Payment Options

Many plans offered by the company provide various payout options like lump sum payment, monthly payment, and both.

Additional Riders

Customization is available for your Term plan with an additional rider.

Benefits of Edelweiss Term Plan

Edelweiss Term plan ensures the financial protection of life assured’s family members in case of the sudden death of the life assured during the policy tenure. Edelweiss Tokio Term Insurance offers various benefits in its term insurance policies:

Death Benefits

Maturity Benefits

Tax Benefits

Discount for Non-smokers, and Females

Waiver of Premium

Claim Settlement ratio

Edelweiss Tokio Life Insurance Company has a Claim Settlement Ratio of 83.44% as per IRDAI Annual Report 2019- 2020.

For more information, we are presenting a graphical illustration of the CSR of Edelweiss Tokio Life Insurance Company & other Top Insurance Companies

Edelweiss Tokio Life Insurance and other Top Insurance Companies (based on CSR)

Data has been sourced from IRDAI Annual Report

Edelweiss Tokio Term Plans in India

The table below lists Term Insurance plans offered by the company.

S.No.	Names of Plans	Who should buy it?
1	Edelweiss Tokio Life Zindagi Plus	Individuals who want flexibility in terms of Sum Assured. Individuals who are looking for a plan with multiple riders.
2	Edelweiss Tokio Life saral Jeevan Bima	Individuals who are looking for a plan that provides flexibility to choose the policy term. Individuals who want life insurance coverage till 70 years of age.

Edelweiss Tokio Term Plans - An Overview

We will briefly discuss the above-mentioned plans in this section.

Edelweiss Tokio Life - Zindagi Plus

Edelweiss Tokio Life – Zindagi Plus is a Life Insurance plan designed to provide complete protection to your family.
Key Features
- The plan offers you the option of choosing the Better Half Benefit to ensure enhanced financial security even in the absence of the main earning person of the family.
- The plan offers you the option to increase your Sum Assured at key stages of life, to take care of changing responsibilities.
- The plan provides you the option to increase your Sum Assured regularly to take care of the increased cost of living.
- The plan offers you the flexibility to pay premiums.
- The plan offers you Top-up benefits.
Eligibility Criteria

Entry Age Minimum: 18 years, Maximum: 65 years
Maximum Maturity Age 80 years
Minimum sum assured* INR 25,00,000
Maximum Policy Term 62 Years

*If Top-up Benefit, Life Stage Benefit or Better Half benefit is opted: 50 lakhs INR.
Edelweiss Tokio Life Saral Jeevan Bima

Edelweiss Tokio Life – Saral Jeevan Bima is a Non-Linked, Non-Participating, Individual Pure Risk Premium Life Insurance Plan designed to protect your family.
Key Features
- This plan covers death due to any pandemic such as COVID-19.
- This plan offers flexibility to choose the premium payment mode.
- This Plan provides an option to choose from a range of Life Cover from Rs. 5 lakhs to Rs. 25 lakhs (in multiples of 50,000).
- This plan provides you the option to choose from a wider premium payment frequency; Regular pay or Single pay or Limited pay options of 5 years or 10-years.
- This plan offers flexibility to choose your policy term from 5 to 40 years.
Eligibility Criteria

Entry Age Minimum: 18 years, Maximum: 65 years
Maximum Maturity Age 70 years
Minimum sum assured INR 5,00,000
Maximum sum assured INR 25,00,000

Claim Process at Edelweiss Tokio Term Insurance

Edelweiss Term Plan offers a simple and customer-friendly claim settlement process. Below mentioned are the steps involved in the claim process of Edelweiss Term Insurance:

File a Claim: Apply for the claim on the official website at Edelweiss Tokio Life Insurance, or Inform via email at care@edelweisstokio.in,
Claim Status: You can track your claim from the company website at https://standby.edelweisstokio.in/claim/track by submitting a Tracking number.
For Claim related inquiries: 8879688110
Toll-Free Number for Claim related inquiries: 1800 2121-212
Note: - Customer has to submit some additional documents that can be downloaded from the company website at https://www.edelweisstokio.in/claim/intimation.
Claim payout: All bonafide claims will be processed within 24 hrs if further investigations are not required and if the company. If the company fails to process the claim within 24 hrs, then the company pays interest at 10% p.a., for delay beyond 24 hours (applicable to all policies with a Sum Assured of up to INR 5 Crores).

Required documents

Original Policy Document
Claimant Photo Identity & Address Proof
Claimant Statement Death
Photocopy Of Death Certificate
Photocopy Of Cause Of Death Certificate
Medical Records On The Life Assured Being Hospitalized (Indoor Case Papers, Discharge/Death Summary, Test Reports Etc)
Hospital Certificate (If The Assured Was Hospitalized)
Employer Certificate For Salaried Policyholder
Treating Doctor Certificate
Post Mortem Report (If Conducted)
First Investigation Report/ Police Report/ Panchnama / Inquest Report (If Case Filed With Police)
Copy Of Driving License (If Assured Was Driving The Vehicle)

Contact Details

Email ID: care@edelweisstokio.in

Toll-Free No: 1800 212 1212

Note: If anybody wants to reach the company’s branch then you can go to this link https://www.edelweisstokio.in/contact-us and can search it based on State, City, and Area.

How To Buy Edelweiss Tokio Term Life Insurance Plans?

You can buy Edelweiss Tokio Term Life Insurance Plan in two different ways i.e. via the official website of Edelweiss Tokio Life Insurance or from Policyx.com.

I. Buy From Edelweiss Tokio Official Website

Visit the official website and choose your Term Plan.

Determine your Life Cover.

Calculate your premium on various factors such as Annual Income, Age, Health Condition, etc.

Make payment via any of the available payment modes on a monthly, half-yearly, or yearly basis.

Fill the proposal form with correct information.

Submit all the required documents for KYC.

II. Buy at PolicyX.com

Go to the top of this page and fill the form 'Free Quotes from Top Companies' and click on 'Continue'.

Select your income and city. Click on the 'Proceed' option.

Select 'Edelweiss Tokio' from the list of insurance providers.

Click on 'Invest' and make payment.

A confirmation email will be sent to your registered email id with all the policy documents.

Edelweiss Tokio Life Products

Life Insurance Categories

Edelweiss Tokio Term Insurance: FAQs

1. How is Term Insurance different from Life Insurance?

Life insurance is a contract in which the Insurance Company agrees to pay a lump sum amount if the Insured dies suddenly or the policy matures.

A Term Plan is a type of Life Insurance that only pays a life cover benefit to the nominee in case of the Insured's death, with no maturity benefits.

2. Is there a Maturity Benefit in Term Insurance?

No, there is no Maturity Benefit in Term Insurance.

3. Is there a Tax Benefit for Term Insurance?

You can get Tax Benefits by purchasing a Term Plan under Section 80C of the Income Tax Act of 1961. In addition, under Section 10 (10D) of the Act, the payout from a Term Plan is tax-free.

4. 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.

5. What is the correct age to buy Term Insurance?

Term Insurance should be purchased at the earliest, as the younger you are, the lower the premiums are.

6. Who should buy Term Insurance?

A Term Insurance policy is essential for a person who is the family's sole earner and has numerous financial commitments, and/or has multiple loans/advances that are due for repayment.

7. What is covered in Term Insurance?

A Term Plan provides Claim Settlement in case of death due to natural causes or severe health implications.

8. 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.

9. 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

10. 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.

Find Out What the Customers Are Saying

(Showing latest 5 reviews only)

- 4.8/5 (5 Total Rating)

September 20, 2021

Sonam Kumari

Agra

I am fully happy and satisfied with the service given to me by Edelweiss Tokio Life Insurance. Well done guys. Keep it up.

Last updated on October, 2021