Edelweiss Tokio Life Raksha Kavach Term Plan

Edelweiss Tokio Life – Raksha Kavach is a non-participating, non-linked micro term assurance plan. This plan helps you to get life cover and comes with a lower ticket size with single and regular pay option.

Death benefit: In case of death of the life insured, the sum assured will be paid to the nominee.

Maturity benefit: No maturity benefit is payable under this plan.

Paid-up benefit: No paid-up benefit is available under this plan.

Surrender benefit: No surrender value is payable on regular pay option.

For single pay, the following values are payable if the policyholder surrenders the plan:

Edelweiss Tokio Life Raksha Kavach plan at a glance.

• Anmol Jeevan Ii | Max Life Super Term Plan | Future Generali Express Term Life Plan | Tata Aia Iraksha Trop
• Pnb Metlife Mera Jeevan Suraksha Plan | Max Life Term Insurance | Sbi Life Grameen Bima Term Plan
• Icici Prudential Term Insurance | Aviva Lifeshield Platinum Plan
• Top Money Back Plans | Hdfc Life Csc Suraksha Term Plan | Edelweiss Tokio Life Raksha Kavach Term Plan
• Idbi Federal Termsurance Sampoorn Suraksha Micro Insurance Term Plan
• Tata Aia Sampoorna Raksha Term Plan | Max Life Online Term Plan Life Cover Plus Monthly Income Plan | Shriram Life Term Insurance
• Edelweiss Tokio Life Term Insurance | Dhfl Pramerica Flexi E Term Plan | Canara Hsbc Obc Pos Easy Bima Term Plan | Bhagya Lakshmi Plan | Life Insurance Faqs | Lic New Money Back Plan 25 Years

The following documents are required to process Edelweiss Tokio Life Raksha Kavach plan.

Age proof: The age proof can be any of these – Driving license, School/college certificate, Passport, PAN card, Birth Certificate.

Identity proof: Voter ID, driving license, PAN card or Aadhaar card can be used as an identity proof.

Address proof: Electricity bill or Bank account statement can be presented as the proof of address.

Income proof: Income tax return or employer certificate can be presented as an income proof at the time of purchasing the policy.

Apart from the list mentioned above, the policyholder has to fill up an application or proposal form and provide self-attested copies of KYC documents.

As a part of the company's corporate philosophy, it has developed plans based on the understanding of Indian customer's diversified financial needs to help them through all their life stages.

Edelweiss Tokio Life Raksha Kavach is a non-linked, non-participating pure term life insurance plan. With this micro assurance plan, one can get maximum protection for a small premium. The plan comes with a policy term of five years with regular and single pay option. Premiums can be paid one-time in a lump sum or on an annual basis. You can make instant payment online through NEFT, bank transfer, debit card, credit card, UPI or e-wallet.

In the unfortunate event of the death of the policyholder, the sum assured will be paid to the beneficiary. There is no surrender value payable in case of regular pay option. For single pay, the surrender value is calculated as the percentage of single premium. The plan doesn’t cover death by suicide of the life insured. In case the policyholder commits suicide within one year from the date of policy issue, 80% of the premiums paid is payable to the nominee.

The company offers a free-look period up to 30 days to review the terms and conditions of the policy. Under Edelweiss Tokio life – Raksha Kavach plan, the premiums paid and the death proceeds are eligible to receive tax benefits under Section 80C and 10(10D) of The Income Tax Act, 1961.