One of the new entrants in the Indian insurance Sector, Edelweiss Tokio Life Insurance was established in 2011.
Basing their expertise in the chosen filed, Edelweiss Tokio Life Insurance offers an eclectic range of life insurance plans covering pure protection, savings, and investment, retirement, and online in every flavour to suit all individual preferences.
Financial planning is an imperative endeavour of every earning individual, aiming to set financial goals with life risk cover and systematically build a corpus for meeting life stage milestones and comfortable retired life. A life insurance product meets these demands fully. It provides life risk cover for a sum assured, against a premium for a chosen term. In the event of the demise of the policyholder during the policy term, the beneficiary receives death benefit equivalent to the sum assured. On survival and maturity, the policyholder stands to benefit as per the terms and conditions specified in a particular life insurance plan. Various life insurance products are designed to meet specific future goals in alignment with the needs of the family.
Accordingly, Edelweiss Tokio Life Insurance delivers Term Plans for pure protection of the financial future of the family, Savings and Investment Plans to help money grow in tune with the risk appetite of individuals, Retirement Plans to enjoy a contented retired life, Child Plans to support their dreams and aspirations, Health Plans to cover for lifestyle critical illnesses rampant in modern society and Group Plans to cater primarily to the rural clientele.
The credentials of Edelweiss Tokio Life Insurance make it a choice insurer to repose faith for a suitable life insurance plan in their portfolio. The customer-centric focus is reflected not only in their range of insurance plans but also in delivering a seamless experience in all stages of life insurance policy owners. A rapidly expanding, vibrant network presently has 121 branches in 91 cities with a highly qualified team of advisors, leading individuals to a good life insurance plan. An extremely customer friendly claim settlement process cushions the emotional trauma resulting from the demise of the policyholder.
The multiplicity of Life Insurance Plans not only adds comfort to the customer with a one-stop outlet for all insurance needs but is also laced with a host of attractive features and benefits.
Listed below are the key features of Edelweiss Tokio Life Insurance plans:
Some of the core benefits of insurance plans offered by Edelweiss Tokio Life Insurance are:
As already enunciated, their portfolio comprises insurance plans of all hues, with variants and options to suit every taste. All the types are tabulated for easy comprehension, as classified by the insurer.
Nature of Plan | Plan name |
Online Plans | Life Zindagi+ |
Life My Term+ | |
Life Wealth Secure+ | |
Life GCAP | |
Life Wealth Gain+ | |
Life Wealth Plus | |
Life Wealth Ultima | |
Health Plan | Life Criticare+ |
Group Plans | Life Group Credit Protection |
Life Group Life Protection | |
Life Group Total Secure | |
Life Group Wealth Accumulation | |
Life PMJJY | |
Micro Plans | Life Jan Suraksha |
Life Raksha Kavach | |
Life Group Wealth Accumulation | |
Term Plans | Life Zindagi+ |
Life My Term+ | |
Life Simply Protect | |
Life Protection | |
Investment | Life Wealth Secure+ |
Life GCAP | |
Life Wealth Gain+ | |
Life Wealth Plus | |
Life Wealth Ultima | |
Life Income Builder | |
Life Smart Lifestyle | |
Life Dhan Labh | |
Life POS Saral Nivesh | |
Life Single Pay Endowment Assurance Plan | |
Retirement Plans | Life Cash Flow Protection+ |
Life immediate Annuity Plan | |
Life Easy Pension |
Here is a rundown to the brief description of different plans offered by Edelweiss Tokio Life Insurance:
These are pure risk protection plans designed to secure the financial future of the family in the absence of the policyholder. All insurance plans in this category uniformly offer high sum assured at an affordable premium.
A term insurance plan with provision for multiple options:
A limited Term Plan along with options for the better half benefit, waiver of premium, and critical illness rider.
The cover extends to a waiver of premium and critical illness. It comes with unique Death Benefit Payout options.
It is plain term insurance with premium paying term flexibility
These are life insurance policies that provide the policyholder choice in terms of investment opportunities in harmony with individual risk appetite. The outcome is to build a suitable corpus over the long term, besides life risk.
It is a ULIP Plan designed to cater to all the future goals of the policyholder matching different life stages, in addition to life risk cover. The key benefits of the plan are:
The regular policy term for 10 years, with provision to extend it to whole life
It provides for stable wealth creation with assured accruals for staying invested for 9 years. The key features are:
It is an endowment plan delivering guaranteed returns. The key advantages are:
The ULIP plan is designed for wealth accumulation along with savings:
It is a savings plan that grows with the policyholder providing increasing benefits.
It is an endowment plan but providing for wealth accumulation.
It is a new generation ULIP providing for unique features:
It is an endowment plan with a lower premium in regular and single payment options.
It is a ULIP combined with Systematic Monthly Plan as a safeguard against market volatility. The key benefits are:
Pay premium once and get maturity benefit plus protection.
These are plans specially designed to cater to policyholders in the twilight of their lives on retirement.
It is an endowment plan which provides for regular tax-free income till death. All the benefits like Death, Survival, Maturity applies to this plan.
There are 7 annuity options which further determine the benefits.
It is a retirement solution with ULIP benefits with options to buy an annuity with the entire proceeds or total withdrawal from the policy
The standard list of documents required to purchase a suitable insurance policy at Edelweiss Tokio Life are:
Age Proof with valid cards plus school leaving or birth certificates
Address Proof with valid ID cards or latest utility bills
Income proof depending on the status of the applicant
The first step to check for eligibility and the applicable premium is to use the Premium Calculator at the insurer portal.
Plan Name | Entry Age (Years) | Sum Assured | Policy Term | |
Min | Max | |||
Zindagi+ | 18 | 65 | Min Rs 25 Lakh | 10 to 15 years |
My Term+ | 18 | 60 | Min Rs 25 Lakh | 10 to 40 years |
Simply Protect | 18 | 65 | Min Rs 25 Lakh | 10 to 40 years |
Protection | 18 | 60 | Min Rs 15 Lakh | 10 to 30 years |
Investment | ||||
Wealth Secure+ | 0 | 60 | Min 7 X AP | 25 to Whole Life |
GCAP | 91 D | 55 | Min Rs 1.65 Lakh | 10 to 30 years |
Wealth Gain+ | 0 | 50 | Min 10X AP | 10 to 20 years |
Wealth Plus | 1 | 55 | Min 10X AP | 10 to 20 years |
Wealth Ultima | 0 | 70 | Variable | 10 to 70 years |
Income Builder | 12 | 55 | Min Rs 1.10 Lakh | 6 to 12 years |
Smart Lifestyle | 1 | 40 | Min Rs 1.00 Lakh | 10 to 20 years |
Dhan Labh | 91 D | 45 | Min 10X AP | 15 to 30 years |
POS Saral Nivesh | 1 | 50 | Min Rs 50000 | 10 to 20 years |
Single Pay Endowment Plan | 8 | 70 | Min Rs 50000 | 10 to 15 years |
Retirement Plans | ||||
Cash Flow Protection Plus | 91 D | 100 | Min Rs 2 Lakh | 100 years |
immediate Annuity Plan | 18 | 85 | 7 Annuity options | Life |
Easy Pension | 18 | 75 | - | 10 to 67 years |
Health Plan | ||||
Criticare+ | 18 | 65 | Min Rs 5 Lakh | 5 to 30 years |
The basic working principle of any life insurance plan is to provide guaranteed policy benefits either on death or as maturity benefit on the survival of the policyholder. Inclusions are those benefits defined in the policy document of each plan, which is normally paid if there is no deficiency in documentation or premium default. The beneficiary is entitled to 100% benefits. On the other hand, certain events are not covered in Edelweiss Tokio Insurance Plans and are referred to as exclusions. The policyholder must scan the fine print of the policy document to comprehend all the exclusions for a seamless claim process.
Suicidal death within 12 months of inception of risk
Death occurring due to any pre-existing medical condition not explicitly mentioned in the policy document
Death due to self-inflicted injury
The claim settlement process followed at Edelweiss is simple and time-bound. It is reflected in their Claim Settlement Ratio of 95.82% in the FY 2018-19. The simplified mechanism comprises the following few sequences:
The company communicates with the claimant for submission of requisite documents for processing
The claimant submits the relevant documents
Edelweiss Tokio Life processes the claim after verification of all the documents and decides on the settlement
Thus the entire process can be summarized in three distinct steps for easy comprehension.
Step 2: Documentation
Step 3: Claim decision
Thus the entire process can be summarized in three distinct steps for easy comprehension.
Cell: 8879688110
Toll-Free: 1800 2121 212
Here is a list of documents required while filing claims:
Renewal of policy needs payment of premium on the due date or within the grace period. The frequency can be Annual, Half-Yearly, Quarterly, and Monthly. If the policy renewal is not done due time, the policy is considered lapsed, and all benefits cease. There are two ways for policy renewal.
Online: It can be paid at the portal by any digital mode using card, wallet or Net Banking
A suitable insurance policy from Edelweiss Tokio Life Insurance can be bought either through an agent or online at the portal, which offers additional benefits like the facility to compare plans and use calculator tools. The online purchase is defined in a few steps:
Choose the right sum assured in consonance with the need of the family and goals. In the case of term plan, it should at least be ten times of the annual income
Calculate the premium to be paid with the help of the calculator. It will depend on the choice made with compare plans online in respect of plan, variant, and rider
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