Know all about Edelweiss Tokio Life Term Insurance, its key features, and benefits. Explore the plans available and understand the claim and buying process.
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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.
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.
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:
1
Death Benefits
2
Maturity Benefits
3
Tax Benefits
4
Discount for Non-smokers, and Females
5
Waiver of Premium
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
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. |
We will briefly discuss the above-mentioned plans in this section.
Edelweiss Tokio Life – Zindagi Plus is a Life Insurance plan designed to provide complete protection to your family.
Key Features
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 is a Non-Linked, Non-Participating, Individual Pure Risk Premium Life Insurance Plan designed to protect your family.
Key Features
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 |
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:
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.
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
1
Visit the official website and choose your Term Plan.
2
Determine your Life Cover.
3
Calculate your premium on various factors such as Annual Income, Age, Health Condition, etc.
4
Make payment via any of the available payment modes on a monthly, half-yearly, or yearly basis.
5
Fill the proposal form with correct information.
6
Submit all the required documents for KYC.
II. Buy at PolicyX.com
1
Go to the top of this page and fill the form 'Free Quotes from Top Companies' and click on 'Continue'.
2
Select your income and city. Click on the 'Proceed' option.
3
Select 'Edelweiss Tokio' from the list of insurance providers.
4
Click on 'Invest' and make payment.
5
A confirmation email will be sent to your registered email id with all the policy documents.
Ideal mode of Payment for Term Insurance Plan
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Term Insurance Renewal
April, 2022
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Term Insurance Return of Premium
December, 2021
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December, 2021
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*Terms and Conditions May Apply
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.
No, there is no Maturity Benefit in 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.
With this benefit, you can give your partner additional Life Insurance up to 50% of your term plan coverage in your absence.
Term Insurance should be purchased at the earliest, as the younger you are, the lower the premiums are.
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.
A Term Plan provides Claim Settlement in case of death due to natural causes or severe health implications.
Edelweiss Tokio Term Plan calculator is available on the PolicyX.com website in the term insurance section.
You can pay your Edelweiss Term plan premium online as well as offline.
Online Mode
Offline Mode
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.
(Showing latest 5 reviews only)
September 20, 2021
Sonam Kumari
AgraLast updated on October, 2021
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I am fully happy and satisfied with the service given to me by Edelweiss Tokio Life Insurance. Well done guys. Keep it up.