Compare life insurance plans from top rated insurers in a few clicks! Buy now

Edelweiss Tokio Life Insurance

Edelweiss Tokio Life Insurance Company offers comprehensive protection plans to help you in the hour of need through options of both critical illnesses and life cover. The company helps you to chalk out your goals and create a secure and bright future for yourself and your loved ones.

Offers low-cost comprehensive protection plans

The 5 pronged approach of the company of convenience, transparency, communication, fairness and commitment ensures an easy approach for your nominees. Edelweiss Tokio Life Insurance Company has an excellent claim settlement with a claim ratio of 93.29% where every genuine claim is settled in 24 hours.

Benefits of Buying Edelweiss Tokio Life Insurance

Qualified Advisors: The company provides well-qualifies advisors. It is really important to understand the requirements of the customer and therefore company recruits advisors with exceptional skills. The advisors have to go under rigorous training on a need identification based approach.

Customer Centric Approach: The motto of the company is "Insurance se badhkar hai aapki zaroorat". Edelweiss Tokio Life Insurance Company keeps the needs of the customer as their primary concern. They bring their resources and expertise together to help you shape your dreams without facing many obstacles.

Simple Claims Process: Edelweiss Tokio Life Insurance company is known for the claims it settles. The claim process followed by the company is easy to understand as well as hassle free.

High Rated Funds: This insurance company provides funds that have been given top ratings in their respective categories.

Customizable plans: Edelweiss Tokio Life Insurance Company provides plans which have customizable options such as customizable payouts. The feature allows a policyholder to use plans according to his/her needs.

Types of Edelweiss Tokio Life Insurance Plans

This Term Plan is a value for money plan which provides protection at a very competitive price. The policy covers you till the age of 80 and also provides flexible payout option.

Basic Sum Assured: Minimum Sum Assured is Rs 25,00,000 and there is no limit on the maximum amount of Sum Assured.

Maturity Benefit : The policy provides an option to get benefit as lump sum or as a monthly benefit or both.

Premium Payment term: Regular pay.

Premium payment mode: A policyholder can make payments on Yearly basis.

Policy Benefit Period : The policyholder can get covered for a maximum of 80 years of age (depending upon the plan). Other terms include 10, 15, 20, 25, 30, 35, 40 and (80 minus entry age.

Entry Age : the age of the Life Insured at the commencement of the Policy. It should be between 18 to 60 years.

Free Look Period: All the policyholders are allowed a period of 15 days to return the policy in case of any disagreement. Exception to this case is for the policies sold through distance marketing. All policies through distance marketing are allowed a free look period of 30 days.

Grace Period: The policy allows a grace period of 30 days.

Tax Benefits: Under Section 80C and Section 10(10D) of the Income Tax Act, you can avail the tax benefits on the premiums paid.

Riders available:

  • Edelweiss Tokio Life Accidental Total & Permanent Disability riders:On account of a permanent accidental disability, the policyholder get paid a Lump Sum Benefit to overcome the financial hindrance.

  • Edelweiss Tokio Life Accidental Death Benefit Rider: a lump sum benefit provides additional financial security in case of death due to accident.

  • Edelweiss Tokio Life waiver of premium Rider: Rider provides waiver of premium in case of critical illness and permanent disability.

Edelweiss Tokio Life – Simply Protect Plan

A term plan which provides complete protection to your family in your absence with multiple death benefit options.

  • Insurance Benefit: four death benefit options including Life Cover, Life Cover plus Accidental Death Benefit, Life Cover plus Waiver of Future Premiums in case of Permanent Disability, Life Cover plus Waiver of Future Premiums in case of Critical Illness.

  • Basic Sum Assured: Minimum Sum Assured is Rs 25,00,000 and there is no limit on maximum amount of Sum Assured.

  • Premium Payment term: Option of single pay or regular pay of 5,10,15,20.

  • Premium payment mode: A policyholder can make payments on a Single or Yearly basis.

  • Policy Benefit Period : The policyholder can get covered for a maximum of 80 years of age (depending upon the plan).

  • Entry Age: the age of the Life Insured at the commencement of the Policy should be between 18 to 65 years of age.

  • Free Look Period: In case of a disagreement over a policy, the owner can return it within a free look period of 15 days for all kind of policies. The policies sold through distance marketing can be returned within a period of 30 days as an exception.

  • Grace Period: 30 days of grace period is allowed before a policy lapse.

  • Tax Benefits: One can avail benefits Under Section 80C and Section 10(10D) of the Income Tax Act.

Edelweiss Tokio Life – Income Replacement plan

The plan provides continuous monthly income to ensure security of your family in case you are not around to look after them.

  • Death Benefit: In case of an unfortunate death of the policyholder, the nominee receives monthly benefit which increases 5% every policy year till the end of policy term or 5 years (greater of the two).

  • Premium payment mode: Option of onetime payment, 5, 10, 15 and regular pays.

  • Policy Benefit Period: The policyholder will be protected for a term of 10 to 30 years depending upon the chosen policy term.

  • Entry Age : the age of the Life Insured at the commencement of the policy should be between 18 and 60 years of age.

  • Free Look Period: Company allows a policy return period of 15 days in case of any disagreement with terms and conditions. For all the policies sold through distance marketing, a free look period of 30 days is allowed as an exception.

  • Surrender Value: Policy cannot be surrendered in the first year. It can be surrendered from the second year onwards. On surrendering of the policy; the policyholder will be paid a Guaranteed Surrender Value (GSV) which will be a percentage of the premium paid. The year of surrender will decide the value of GSV.

  • Tax Benefits: Section 80C and Section 10(10D) of the Income Tax Act allows the policyholder to avail tax benefits.

    Riders available:

  • Edelweiss Tokio Life Accidental Total & Permanent Disability Riders: The policyholder receives a lump sum in case of a permanent accidental disability.

  • Edelweiss Tokio Life Accidental Death Benefit Rider: Additional financial security is provided with a lump sum in case of death due to accident.

  • Edelweiss Tokio Life Critical Illness Rider:Lump sum is provided to policyholder in case of critical illness. The raider monitory benefits will take care of any immediate financial needs.

  • Edelweiss Tokio Life waiver of premium Rider: In case of critical illness and permanent disability, the policyholder would not have to pay any more premium amount.

Edelweiss Tokio Life – Total Secure+ Plan

A low cost comprehensive plan to give life cover as well as protection from critical illness. The plan comes with multiple customizable options.

  • Insurance Benefit: Stay financially protected till the age of 80 years.

  • Death Benefit: Upon the death of a single pay policyholder, Highest of 125% of single premium or sum assured or absolute sum assured will be payable to the nominee.

  • Assured sum: The policy provides minimum base sum assured of Rs 25, 00,000.

  • Premium payment mode: The plan provides an option of Limited Pay: 5, 10,15,20,25 years or single pay or regular pays.

  • Policy Benefit Period : The policyholder will be protected for a term of 10 to 62 years depending upon chosen policy term.

  • Entry Age : a policyholder should be between 18 to 65 years of age.

  • Free Look Period: Company allows a policy return period of 15 days in case of any disagreement with terms and conditions. For all the policies sold through distance marketing, a free look period of 30 days is allowed as an exception.

  • Tax Benefits : Section 80C and Section 10(10D) of the Income Tax Act allows the policyholder to avail tax benefits.

Riders available:

  • Edelweiss Tokio Life Critical Illness Rider: In order to cater immediate financial needs, Lump sum is provided to policyholder in case of critical illness.

  • Edelweiss Tokio Life Accidental Total & Permanent Disability Riders: The policyholder receives a lump sum in case of a permanent accidental disability.

  • Edelweiss Tokio Life waiver of Premium Rider: premium waived off for critically ill condition.

  • Edelweiss Tokio Life Accidental Death Benefit Rider: death due to an accident would lead to additional lump sum security.

Edelweiss Tokio Life – Protection Plan

Risk coverage plans to keep your family secure and helps them live their dreams in case you are not around.

  • Death Benefit: Sum Assured will be provided to the nominee in case of an unfortunate death of the policyholder.

  • Premium Payment term : The premium of the policy can be paid as a Single premium or 5, 10, 15 and Regular pays.

  • Premium payment mode: yearly basis.

  • Policy Benefit Period: The policyholder will be protected between 10 to 30 years depending upon the policy period.

  • Entry Age : the age of the Life Insured at the commencement of the Policy. It should be between 18 and 60 years of age.

  • Free Look Period: A period of 15 is given to all policyholders as a free look period. In case of any disagreement with the terms and conditions, a policyholder can return the policy within the free look period. For distance marketing the period is 30 days.

  • Grace Period: There is a grace period of 30 days from the due date for payment of premium.

  • Tax Benefits: Under Section 80C and Section 10(10D) of the Income Tax Act, you can avail the tax benefits on the premiums paid.

Riders available:

  • Edelweiss Tokio Life waiver of premium Rider :rider allows Premium to be waived off in case of critical illness.

  • Edelweiss Tokio Life Accidental Total & Permanent Disability Riders: In an unfortunate case of total and permanent disability, a lump sum is provided to the policyholder to cater financial needs.

  • Edelweiss Tokio Life Critical Illness Rider:Lump sum is provided to policyholder in case of critical illness. The raider help cater immediate financial needs.

  • Edelweiss Tokio Life Accidental Death Benefit Rider: lump sum provided as additional security in case of death due to accident.

Exclusions of Edelweiss Tokio Life Insurance

Suicide Exclusion- In case the policyholder commits suicide within one year of the date of issue policy, only 80% of the paid premium is payable to the nominee.

Claim Process of Edelweiss Tokio Life Insurance Company

There are various ways in which a nominee/policyholder can claim benefits on their policy. You can Visit the Edelweiss Tokio Life Insurance branch nearest to you, or call the toll-free number – 1800-212-1212

You can also send an email at claims@edelweisstokio.in, or register online for your claim. You have to provide a written intimation to Edelweiss Tokio Life. Upon receiving the intimation, the company will send a list of required documents. After the submission and verification of all the required paperwork, Edelweiss Tokio Life processes the claim. For any further assistance or information on claims do contact at:

Claims Department 3rd & 4th Floor,Tower 3, Wing 'B', Kohinoor City Kirol Road, Kurla (W) Mumbai – 400070

Edelweiss Tokio Life Insurance Review

Edelweiss Tokio Life Insurance provides amazing services. Also, it has many attractive plans for different types of customers to choose from as per their requirement. Edelweiss Tokio Life Insurance gives an insurance cover up to 80 years of age which makes it the finest in the market.

The online advisors are always available to solve the query or advice customers. People at Edelweiss Tokio Life Insurance Company help you to choose the most suitable plan for you. They also guide you on choosing riders and help you avail the policy.

They have an excellent claim settlement ratio of 93.29% (as stated by IRDA for 2016-17) and every genuine claim gets settled within 24 hours. In the case of any delay, they also pay an interest @ 10% p.a.

FAQs on Edelweiss Tokio Life Insurance Company

Is there any guarantee for claim settlement within 24 hours?

The company guarantees to settle all bonafide claims within 24 hours and will pay an interest of 10%p.a in case of any delay beyond the 24 hour period. The condition is applicable on all policies having Sum Assured up to 5 Crores.

When does a policy lapse?

When the policyholder fails to pay the premium within the grace period, policy gets lapsed. A policy once lapsed loses all its benefits. However, the policy can be revived by the policyholder, to be eligible once again for all the lost benefits within the stipulated time.

What is the process of revival of a policy if it has lapsed?

A lapsed policy can be revived within 6 months from the date of policy being lapsed. The holder needs to pay the unpaid premiums and the revival charge. Even after 6 months, the policy can be revived by submitting additional “Certificate of Insurability”.

How will I know the status of my claim?

You can call the toll free customer care number 1-800-2121-212 to enquire about the status of your claim. You can also write a mail to claims@edelweisstokio.in

Where can I give my free look request?

A free look request can be given in a written declaration with policy document attached to the nearest branch or to the agent exercising your free look request. You will receive a payout form to facilitate the process of return.

Leave a rating!
4.5 (2 votes)