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Edelweiss Tokio Term Insurance: Overview
Edelweiss Tokio Life Insurance offers term insurance plans designed to provide financial security and high life cover for your family. With a strong presence across 120+ branches and a wide customer base, it focuses on affordable protection and reliable claim support.
Established in 2011, Edelweiss Tokio Life Insurance currently operates over 120 branches in major cities and employs more than 5000 individuals. 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 various 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.
Key Features of Edelweiss Tokio Term Insurance Plans
- Best Customer Experience
- Affordable Premiums
- Hassle-free Claim Process
- Tax Benefits
- Enhanced Protection with Riders
- Death Benefits for Your Loved Ones
- Special Premium Rates for Non-Smokers
Best Customer Experience
Recognized as Asia's best insurance company for digital sales channels in 2020, Edelweiss Tokio Term Insurance maintains a strong customer-centric approach.
Affordable Premiums
Edelweiss Tokio's term plans come with affordable premiums. A basic term plan starts at just Rs. 512 per month for a ₹25 lakh cover, making it accessible to a wide range of individuals.
Hassle-free Claim Process
Edelweiss Tokio Term Insurance offers a 24-hour claim settlement process, providing timely financial support to insured families.
Tax Benefits
Edelweiss Tokio's term plans provide tax benefits under Section 80C of the Income Tax Act, 1961, for premiums paid in the same financial year.
Enhanced Protection
You can enhance the protection for your loved ones by adding multiple riders to your basic term plan.
Waiting Periods for Edelweiss Tokio Term Insurance Plans
Term insurance plans typically do not have a waiting period for the death benefit. However, certain riders, such as Critical Illness riders, may have specific waiting periods before benefits can be claimed. For detailed information on any applicable waiting periods, policyholders should refer to their specific Edelweiss Tokio Term Insurance policy document.
Riders You Can Avail With Edelweiss Tokio Term Insurance Plans
You can avail of the following riders with your Edelweiss Tokio Term Insurance:
| Name of the Rider | Benefits |
|---|---|
| Edelweiss Tokio Accidental Death Benefit Rider | This rider enhances the life coverage for your loved ones in case of your accidental death. Your beneficiaries will receive the base sum assured along with the rider's sum assured. |
| Edelweiss Tokio Accidental Total and Permanent Disability Rider | If an accident results in a total and permanent disability preventing you from earning for more than six months, this rider waives off all future premiums while keeping your insurance coverage intact. |
| Edelweiss Tokio Critical Illness Rider | This rider provides an additional sum assured, separate from the base plan, if you are diagnosed with any critical illnesses specified in your policy. |
Documents Required to Buy Edelweiss Term Insurance Plans
Here are the documents required to buy Edelweiss Term Insurance Plans:
- Photo ID Proof
- Age Proof
- Address Proof
- Medical Records
- Income Proof
Photo ID Proof
Any one of the following: Passport, Aadhaar card, PAN card, Driving license.
Age Proof
Any one of the following: Passport, Aadhaar card, PAN card, Driving license.
Address Proof
Any one of the following: Utility bill, passport, voter ID, ration card.
Medical Records
Medical records of the policyholder, if requested by the insurer.
Income Proof
Any one of the following: Bank statement, last three months' salary slips (for salaried individuals).
How to Calculate Premiums
- Visit the official website of Edelweiss Tokio Life Insurance Company.
- Navigate to the 'Term Insurance Plans' section.
- Enter your details such as age, income, and desired cover amount.
- Select a plan and any optional riders to view the premium.
- The system will display the calculated premium based on your selections.
How to File Edelweiss Tokio Term Insurance Claims?
Filing a claim for the Edelweiss Tokio Term Plan is a simple and hassle-free task. You can submit claims online or offline. To file a claim for Edelweiss Tokio Term Plan, follow these steps:
Online Process
1. Claim Reporting
Inform the company about the incident via email at [email protected], by calling the toll-free number (1800 2121 212), by filling out the online claim form on its website, or by visiting the nearest branch. You will need to provide the policyholder's name, policy number, date of death, nominee name, cause of death, and contact details.
2. Claim Review
Edelweiss Tokio's customer support staff will review your claim form and assist you. They will evaluate your claim and notify you if any documents are pending.
3. Claim Approval and Settlement
After receiving and verifying all documents and claim forms, the company will settle the claim. The amount will be transferred to the nominee's bank account, and communication will be sent via call or email.
Offline Process
You can also report Edelweiss Tokio Term Insurance claims by visiting their nearest branch office. For branch details, visit the 'Contact Us' section on their official website. Ensure you carry all essential documents for smooth processing.
How to Port Your Policy
- Term insurance policies are generally not portable in the same way health insurance policies are.
- If you wish to change your term insurance provider, you would typically need to purchase a new policy from Edelweiss Tokio Life Insurance or another insurer.
- This process involves applying for a new policy and undergoing a fresh underwriting process.
- It is advisable to compare different plans and benefits before making a decision.
- Consult with a financial advisor or PolicyX expert for guidance on choosing the best term insurance plan for your needs.
