Edelweiss Tokio Life Insurance Company

Edelweiss Tokio Life Insurance is a joint venture between Edelweiss Financial Services, Mumbai and Tokio Marine Holding, a Japanese insurance company. Edelweiss Tokio Life Insurance started as a general insurance provider in 2011. Currently, more than 120 branches operate in every major city, and over 5000 employees work 24/7 to speed up the claim-settling process. Edelweiss Tokio Life Insurance is the fastest-growing private player in India's life insurance sector.

Edelweiss Tokio Term Plans

As a responsible family member, you would always be concerned about what happens to your family after your death. Edelweiss Tokio's term plans are the perfect solution to this concern. It offers vast categories of term plans such as level term plans, increasing term plans, term plans with optional riders, and term plans with a return of premium to cater to the needs of every customer.

Let's take a look at the term plans offered by Edelweiss Tokio Life Insurance Company.

S.No	Plan Name	Entry Age	Policy Term	Sum Assured
1	Edelweiss Tokio Life My Life + Plan	18-60 years	10-40 years	25 lakhs to no limit
2	Edelweiss Tokio Life Income Replacement Plan	18-60 years	10-30 years	25 lakhs to no limit
3	Edelweiss Tokio Life Protection Plan	18-60 years	28-70 years	25 lakhs to no limit
4	Edelweiss Tokio Life Raksha Kavach Plan	18-50 years	10-20 years	Rs. 5000 to 50,000
5	Edelweiss Tokio Life Wealth Gain Plus	0-45 years	10-20 years	25 lakhs to no limit
6	Edelweiss Tokio Life Wealth Plus	1-55 years	10-30 years	25 lakhs to no limit
7	Edelweiss Tokio Life -GCAP	90 days- 55 years	10-30 years	1.5 lakhs to no limit
8	Edelweiss Tokio Life Zindagi Plus	18-65 years	10-62 years	25 lakhs to no limit

Reasons to Choose Edelweiss Tokio Term Insurance Plans

Best Customer Experience
With Asia's best insurance company awarded for digital sales channel in 2020, Edelweiss Tokio term insurance always works on a customer-centric approach so customers don't feel hassled in the claim settlement process in tough times.
Affordable Premiums
Edelweiss's term plan comes with an affordable premium, a basic term plan starting at just Rs.512/- per month for 25 lakh cover. So it becomes easily accessible to people of all sectors.
Hassle-free Claim Process
Edelweiss term insurance offers a 24-hour claim settlement process after rectifying and submitting all the documents, supporting the insured families financially to cover up their expenses.
Tax Benefits
Edelweiss Tokio's term plans provide term insurance tax benefits under sections 80C of the Income Tax Act, 1961 for the premiums paid in the same financial year.
Enhanced Protection
You can enhance the protection of your loved ones by adding riders with your basic term plan. Edelweiss term insurance consists of multiple helpful riders such as Accidental Death Benefit Rider, Accidental Total and Permanent Disability Rider, and Accidental Total and Permanent Disability Rider.
For more info, refer to page- Term insurance riders

Who Should Buy Edelweiss Term Insurance Plans?

Edelweiss Term insurance is a perfect choice for securing families against any untimely death or misshapen. Given below are some groups of people who should opt for a term plan as soon as possible:

Breadwinners
If you are the sole breadwinner of your family, all the financial-related things depend upon your income. It would be best to opt for Edelweiss's term insurance plans at the earliest. Edelweiss Tokio Life Income Replacement Plan could be the best solution for replacing your income and financially supporting your family.
Young parents
If you have recently become a parent, you are well prepared for new responsibilities like education, lifestyle, and much more. But, have you thought about what would happen in case any mishap happens to you? Edelweiss Tokio Life Protection Plan is the perfect solution to these situations. It helps to provide monthly income to your loved ones, which supports them to pursue life further.
Newlyweds
If you are newlywed, consider buying an Edelweiss Tokio term plan to ensure your spouse's financial needs and support in case of your untimely death.

Edelweiss Tokio Life Term Plan Riders

The company offers the following riders with its term insurance plans:

Accidental Death Benefit Rider
This rider enhances the life coverage given to your loved ones in case of an accident causing your untimely death. So your loved ones could receive the base sum assured along with the rider's sum assured. The entry age for this rider spans from 18 to 65 years, and it can only be purchased during inception or the anniversaries of the term plan.
Accidental Total and Permanent Disability Rider
It can be a difficult task when an accident leaves you with a disability, which impacts your ability to provide consistent income for your family. Under this rider, if you cannot earn for more than six months due to any accidental disability in rider terms, you can receive monthly income according to the plan chosen at inception. The entry age of this rider starts from 18 and goes to 65 years.
Critical Illness Rider
Under this rider, you would be provided a sum assured apart from the base plan sum assured if you are diagnosed with any critical illness disease mentioned in the plan that you bought. The entry age for this rider spans from 18 to 65 years, and this rider is also purchased during inception or the anniversary of the policy term.

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.

Edelweiss Tokio Term Insurance: FAQs

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.

16. How much Grace Period is available in Edelweiss Tokio's term plans?

Edelweiss Tokio's term plan provides a 30-day grace period for premiums paid half-yearly, yearly, and quarterly. However, for premiums paid monthly, it provides a grace period of 15 days

17. How could I Renew my Edelwessis Tokio term plan?

You can renew your Edelweisses Tokio term plan online by visiting the company website or offline by visiting the nearby company branch.

18. How much free-look period is available in the Edelweiss Tokio term plan?

Edelwessis Tokio's term plan provides a 30-day free-look period for the online purchased policy and 15 days in case the plan is purchased offline.

19. Is EdelweissTokio life insurance good?

Edelweiss Tokio Life Insurance is the fastest-growing private player in India's life insurance sector, according to the India Insurance Summit & Awards in 2020, showcasing the company's credibility among customers.

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