In a basic term plan, you'll get life coverage for a specific term in return for the premium you paid, but have you ever heard of a term plan which provides:
Life cover option.
Return of premium option.
Live long option.
in the same plan? If not, then you must see Edelweiss Tokio Life – Total Protect Plus which offers all-around protection to take care of your dependents with the ever-changing responsibilities.
Edelweiss Tokio Life-Total Protect Plus plan is a pure risk term insurance plan that offers life coverage up to the age of 100 years at affordable premiums, to care for your loved ones financially in your absence.
Eligibility Criteria of Edelweiss Tokio Total Protect Plus Policy
Features
Specification
Entry age
Minimum Age - 18 years Maximum Age - 65 years
Maturity Age
Minimum Age - 28 years Maximum Age - 100 years
Policy term
Minimum term - 10 years Maximum term - 100 years
Sum assured
Minimum term - 25 lakh Maximum term - no limit.
Premium Payment Term (For Base Policy)
Regular Pay: Same as Policy term Limited Pay : 5/7/10/15/20 years
Policy Loan
No policy loan is available
Premium Payment options
Monthly, Quarterly, half-yearly and annually
What Makes Edelweiss Tokio Life – Total Protect Plus Unique?
Every term plan has its unique features that make it stand out from the rest, given below there are some unique features of Edelweiss Tokio Life – Total Protect Plus Plan:
Return of Premium Option
Under the return of premium option, a maturity benefit which is equal to the total premiums paid will be payable to the policyholder if they survive the whole policy term. After the maturity benefit is paid the term plan will immediately terminate.
Let us understand by an example:
Suppose Vaibhav, a 35-year-old guy, opts for a 15-year long-term plan with a return of a premium option, as the initial five years are premium paying terms, with a base sum assured of policy is 1 crore.
The calculation of death benefits and survival benefits would be as follows:
Policy Year
Age Attained (last birthday)
Premium Amount (Yearly)
Base Sum Assured
Maturity Benefit
1
35
44,860
1 Crore
0
2
36
44,860
1 Crore
0
3
37
44,860
1 Crore
0
4
38
44,860
1 Crore
0
5
39
44,860
1 Crore
0
6 to 14
40 to 48
0
1 Crore
0
15
49
0
1 Crore
2,24,300
At maturity, Vaibhav will receive 100% of the total premiums paid apart from any additionalpremiums, such as rider and add-ons.
All the taxes and other charges that are paid with premiums will not be paid at the time of maturity.
Live Long Option
Under this benefit, the policyholder will receive a regular income after attaining 60 or 65 years (as chosen by you at policy inception). The live long option offers flexibility to choose the percentage of the sum assured to be received as income and the payout mode such as monthly, quarterly, half-yearly, and yearly.
You will get regular income until the maturity of the plan or death, whichever comes earlier.
Let us understand by an example:
Suppose Sudhir, a 35-year-old guy, opts for a term plan for 35 years with a lifelong option. He chose a Premium Paying Term of 5 years while the base sum assured chosen is 1 Cr. He has opted for an Income Pay-out % of 0.1% per month after the age of 60 years, premium paying mode as annual, and underwriting status as Medical.
The calculation of income payout, maturity benefits and death benefits would be as follows:
Policy Year
Age Attained (last birthday)
Premium Amount
Base Sum Assured
Income Pay-outs in a Year
Maturity Benefit
1
35
1,22,958
1 Crore
NA
0
2
36
1,22,958
1 Crore
NA
0
3
37
1,22,958
1 Crore
NA
0
4
38
1,22,958
1 Crore
NA
0
5
39
1,22,958
1 Crore
NA
0
6 to 25
40 to 59
0
1 Crore
NA
0
26
60
0
98,80,000
1, 20,000
0
27
61
0
97,80,000
1, 20,000
0
28
62
0
96,80,000
1, 20,000
0
29
63
0
95,80,000
1, 20,000
0
30
64
0
94,80,000
1, 20,000
0
31
65
0
92,80,000
1, 20,000
0
32
66
0
91,80,000
1, 20,000
0
33
67
0
90,80,000
1, 20,000
0
34
68
0
89,80,000
1, 20,000
0
35
69
0
88,80,000
1, 20,000
0
Life cover option
Under the life cover option, pure death benefit will be paid to the nominee of the policyholder; no survival and income benefits are available under this option.
Additional Benefits of Edelweiss Tokio Life – Total Protect Plus
Apart from the three plan options, you can also add the additional benefits that come with Edelweiss Tokio Life – Total Protect Plus.
Child’s future protect benefit
Under this additional benefit, you can increase your life cover by 10% to 100% of the base sum assured. This option can only be selected at the policy's inception and only if you have a child between the ages of 0 and 18 (age last birthday).
How does this benefit work?
Suppose, the insured parent dies before the child's 25 birthday. Then the nominee will get the additional sum assured on behalf of the child's future plus benefit chosen at the policy's inception. In case, the insured parent survives until the 25th birthday of the child then this benefit will lapse and the insured will only cover as per the basic sum assured.
Better half benefit
The Better Half Benefit option provides additional cover to the spouse after the policyholder's demise during the policy term along with the payable death benefit of the policyholder to the nominee.
Kindly note that the additional benefits will only be paid if the basic sum assured by the insurer is greater than 50 lakhs.
Riders associated with Edelweiss Tokio Life – Total Protect Plus
A rider is an extra layer of coverage bought with your basic term plan, that aims to enhance the protection of you and your loved ones in critical times.
Below are the listed riders available with Edelweiss Tokio Life – Total Protect Plus.
Edelweiss Tokio Life-Accidental Death Benefit Rider
Under this rider, an additional sum assured along with the base plan death benefit is paid in case of the death of the policyholder due to an accident in the policy term.
Edelweiss Tokio Life-Accidental Total and Permanent Disability Rider
If you have been declared permanently disabled due to an accident or any specific reason which affects your earning ability for more than six months, this rider will provide a lump sum amount to cater for the financial needs of you and your dependents. After the payment of the lump sum amount, the premiums will be waived off too.
Edelweiss Tokio Life-Hospital Cash Benefit Rider
Under this rider, if you have been hospitalised due to any reason, which affects your income, the rider will provide you with a daily allowance almost similar to your income and other post-hospitalization benefits. So you can focus on health recovery rather than worrying about the finances.
Edelweiss Tokio Life-Critical Illness Rider
Under this rider, if you have been diagnosed with any of the 12 listed critical illnesses, you will receive a lump sum assured amount to manage your expenses along with waiving off all the future premiums of the policy.
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 Total Protect Plus: FAQ's
1. What is the claim settlement ratio of Edelweiss Tokio's life insurance?
The claim settlement ratio of Edelweiss Tokio's life insurance is 98.09%.
2. Does Edelweiss Tokio Total Protect Plus offer covid claims?
Yes, all the COVID claims are covered under Edelweiss Tokio Total Protect Plus.
3. What is the maximum and minimum sum assured limit under the Edelweiss Tokio Life – Total Protect Plus plan?
The Minimum sum assured Edelweiss Tokio Life – Total Protect Plus plan limit is Rs. 25 lakh and the maximum depends upon approval from the underwriter.
4. What is the free look period of this policy Edelweiss Tokio Life – Total Protect Plus?
You will get a 15-day free-look period for offline purchases of this policy, while you will get 30 days of free-look for online purchases.
Read what our customers have to say about Edelweiss Tokio term insurance company
Shreya
Pune
March 14, 2024
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Vijayawada
October 5, 2023
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Meerut
October 5, 2023
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Jaipur
October 5, 2023
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October 5, 2023
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Dehradun
October 5, 2023
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Varun is a passionate content writer with over three years of experience in the insurance domain. An avid learner, he stays ahead of the industry's trends ensuring his writing remains fresh and includes the latest insurance shifts. Through his work, Varun strives to engage with targeted insurance readers.
