Edelweiss Life Zindagi Protect

Overview

The Edelweiss Life Zindagi Protect is a pure term insurance plan that provides financial support to your dependents in return for the premium you have paid. Have you ever thought about what will happen if you fail to pay a premium on time due to financial issues? Unfortunately, your term plan might lapse.

To tackle this problem, Edelweiss Life Zindagi Protect enables you to skip your premium payments up to 8 times and still remain covered, enjoying all the exclusive policy benefits. Additionally, the plan offers life insurance coverage up to the age of 100, along with the option to choose between a life cover or a return of premium option.

Edelweiss Life Zindagi Protect Plan offers a range of benefits, including:

• Premium Break Benefit
• Tax Benefit
• Child’s Future Protect Benefit
• Additional riders to choose from
• Better Half Benefit
• Whole Life Cover

Key Benefits of Edelweiss Life Zindagi Protect

Premium Break Benefit

Under the premium break benefit, you have the option to skip your premiums up to 8 times during the whole policy term due to financial issues. Your policy will still continue to provide coverage.

Child’s Future Protect Benefit

An optional benefit that pays an additional payout to your children in case of your demise. This benefit covers your child up to the age of 25 and offers a minimum payout of 10% of the base sum assured.

Better Half Benefit

Under this additional benefit, 50% of the sum assured (not more than 1 crore) will be paid to your spouse after your demise, and the rest will provide a life cover for the remaining policy term.

Whole Life Cover

The plan offers lifetime protection to the policyholder, extending the maximum policy term up to 100 years of age.

Return of Premium Option

The Zindagi Protect term plan offers a return of premium option, under which you will get a lump sum payout equal to the total premiums paid for the plan upon surviving the entire policy tenure (apart from taxes and other charges).

Multiple Death Benefits Payout

You can choose the death benefit payout from three available options: lump sum, monthly income, or lump sum + monthly income.

Special Exit Benefit

The policy allows you to exit while it's active if you feel that you no longer need the term plan coverage. This benefit is only available with the life option cover. You can avail of this benefit at the 25th policy year for a policy term between 40-44 years, or the 30th policy year for a policy term greater than 44 years.

Choice of Policy Term

This plan allows you to choose the policy term that best fits your requirements.

Riders Associated with Edelweiss Life Zindagi Protect

You can add the following riders to your Edelweiss Life Zindagi Protect:

Edelweiss Life Accidental Death Benefit Rider

In case of the policyholder’s demise due to an accident, benefits are paid to the nominee.

Edelweiss Life Critical Illness Rider

Under this rider, you will be paid an immediate lump sum amount upon the diagnosis of any of the listed 12 critical diseases, including cancer and brain tumour. This immediate lump sum helps manage treatment expenses.

Edelweiss Life Waiver of Premium Rider

Under this rider, all future premiums of your ongoing term plan will be waived off if you are diagnosed with any of the listed 12 critical diseases or become physically disabled due to an accident during the policy term.

Edelweiss Life Accidental Permanent Total/Partial Disability Benefit Rider

Under the accidental disability rider, benefits are offered in case of the policyholder’s disability or demise due to an accident.

Exclusions

• Death occurring due to a pandemic is not covered by the company.
• Death caused by any type of adventure sports.
• Death due to the consumption of any type of drugs and alcohol.
• Death due to any pre-existing disease that was not disclosed at the start of the policy.
• If a policyholder commits suicide within the first 12 months of purchasing the policy, no death benefits are paid to the nominee. Instead, either the premiums paid to date or the surrender value of the policy, whichever is higher, is paid.