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Edelweiss Tokio Life Total Secure+

Edelweiss Tokio Life Insurance Company is a highly customer centric life insurance provider that commenced its operations in 2011. It is a joint venture between Edelweiss Financial Services, and Tokio Marine Holdings Inc. Edelweiss is one of India's leading financial services companies and Tokio Marine Holdings Inc, is a 130 year old insurance company in Japan. Together growing as one of the leading life insurance provider in India. The Edelweiss Tokio believes in convenience, transparency, communication, fairness and commitment.

Customize term plan with critical illness benefit rider.

Edelweiss Tokio Life Insurance with a claim ratio of 93.29% have settled genuine claims within 24 hours of its intimation. TotalSecure+ provides life cover including cover against 35 critical illnesses.

Features of Edelweiss Tokio Life TotalSecure+

The main features of the Edelweiss Tokio Life TotalSecure+ is mentioned below:

  • Low cost comprehensive plan
  • 3 Plan Options to choose from

    • Option 1 – Life Cover
    • Option 2 – Life Cover with Basic Health Cover
    • Option 3 – Life Cover with Comprehensive Health Cover
  • sum assured as death benefit
  • Life cover up to the age of 75 or 80 years
  • Save Tax on the premiums paid and the payout as per the Income Tax Act.
  • Additional Riders to make it customizable
  • Cover against 35 Critical illnesses
  • Lower premiums for non-smokers, female lives, and higher sum assured
  • Customized plan in terms of policy period, premium paying term, payouts, life coverage
  • Offers different payout options

Benefits of Edelweiss Tokio Life TotalSecure+

  • Death Benefit: The death benefit shall be payable to the nominee as per the payout option chosen based on the type of plan. Death benefit is paid as lump sum, regular income or as lump sum plus regular income, as per the option chosen at the time of purchase. In case, if the policyholder opts for optional riders, the death benefit shall be the base sum assured plus the rider sum assured.

  • Accidental Death Rider Benefit: if the life assured dies due to an unfortunate accident or within 90 days of the accident, 100% rider benefit will be paid in addition to the base sum assured.

  • Accidental Total and Permanent Disability Rider: If an accident causes a total and permanent disability to the life assured, leading to the inability to perform any work or occupation to earn, 100% rider benefit will be paid.

  • Waiver of Premium Rider Benefit: In case of a critical illness or dismemberment/death of the policyholder (where policyholder and life assured are different individuals) the rider benefit will be paid.

  • Hospital cash: With the help of this rider, the life assured gets daily cash allowance, ICU benefits, etc. on hospitalization, as per the terms and conditions.

  • Maturity Benefit: There is no maturity benefit under TotalSecure+ plan.

Eligibility Criteria of Edelweiss Tokio Life TotalSecure+

Entry Age Min. 18 years and Max. 65 years
Policy Term Age Contnent R2C2
Maturity Age Max. 80 years for Option 1
Max. 75 years for Option 2 and 3
Premium Payment Mode For Option 1 : Single Pay, Limited Pay, Regular Pay
For Option 2 and 3: Regular Pay
Premium Payment Frequency Single or Annually
Min Basic Sum Assured Life cover - Rs.25 lakh
Critical Illness Sum Assured – Rs. 5 lakh (max. Rs. 1 crore)
Min Basic Premium Rs.3,000

Plans Offered by Edelweiss Tokio Life TotalSecure+

Offer different variants. The base plan offers purely life cover. However, the proposer has an option to select life cover plus accelerated critical illness cover under different variant offered by Edelweiss Tokio Life.

Plans offered

  • Option 1 Life Cover: The Edelweiss Tokio will pay the nominee the Basic Sum Assured as per the payout option selected.

  • Option 2 and Option 3 Life Cover with ‘Base/Comprehensive Health Cover’ (Option to select 7 or 35 Critical Illnesses): This plan offers the basic life cover and an accelerated health cover that covers 7 critical illnesses. It’s not an additional benefit but an accelerated benefit. It simply means, that on the first diagnosis of any of the listed 7 or 35 critical illnesses during the policy term, the critical sum assured is paid as lump sum.

    • If the critical sum assured is equal to the basic sum assured, the payout is paid fully as the basic sum assured and the policy terminates.
    • If the critical sum assured is less than the basic sum assured, critical sum assured is paid and the policy continues with the reduced sum assured.

The cover for the critical illness can never be more than the basic sum assured.

List of the 7 Critical Illness covered under Base Health Cover

First Heart AttackFirst Heart Attack – of specified severity
Surgery to aortaOpen Chest CABG
Kidney Failure Requiring Regular DialysisMajor Organ/Bone Marrow Transplant (as recipient)
Stroke resulting in permanent symptoms

List of the 35 Critical Illness covered under Comprehensive Health Cover

Alzheimer's Disease Loss of Speech Apallic Syndrome
Major Burns Aplastic Anaemia Major Head Trauma
Bacterial Meningitis Major Organ/ Bone Marrow Transplant (as recipient) First Heart Attack – of Specified Severity
Motor Neurone Disease with Permanent Symptoms Blindness Multiple Sclerosis with Persisting Symptoms
Cancer of specified severity (malignant tumor) Muscular Dystrophy Cardiomyopathy
Open Chest CABG Chronic liver disease Open Heart Replacement or Repair of Heart Valves
Chronic Lung Disease Parkinson's Disease Coma of specified Severity
Permanent Paralysis of Limbs Creutzfeldt – Jacob disease Poliomyelitis
Deafness Primary Pulmonary hypertension Encephalitis
Rheumatoid arthritis Benign Brain Tumour Stroke resulting in permanent symptoms
Kidney Failure Requiring Regular Dialysis Surgery to aorta Loss of Independent Existence
Systemic lupus Eryth with Renal Involvement Loss of Limbs Stroke resulting in permanent symptoms

Benefit options

Once the proposer chooses the type of death benefit, payout option cannot be changed during the policy term.

Lumpsum: When one opts for lump sum payout option, the nominee receives the death benefit as lump sum one-time pay.

Regular Income: A specific percentage of death benefit will be payable every month for the fixed number of months. The income can be of level income or increasing income.

The number of months can be 36, 60, 120 or 180 months.

% Death Benefit payable monthly36 months60 months120 months180 months
Level 3.020 1.917 1.085 0.806
Increasing 2.880 1.734 0.872 0.568

Lump sum + Regular Income: The payout is a combination of lump sum, and regular income. As per this option, the policyholder can choose the proportion of death benefit sum assured to be received as lump sum and the rest of the sum assured will be paid as regular income.

The minimum proportion can be 1% and maximum proportion can be 99%.

The Regular Income benefit shall be as per the chosen option and as mentioned above in the ‘Regular Income’ payout mode.

Additional Riders of Edelweiss Tokio Life TotalSecure+

Other Details of Edelweiss Tokio Life TotalSecure+

Surrender Value: The surrender value is,

70% x [Total Premium paid - Total Premium payable)* x (No. of completed months of policy + 1) / Total Policy Term in months}]

  • Exclusive of GST and inclusive of extra premium for substandard lives, if any.

In case of Limited Pay

Policy will acquire Surrender Value in the following way:

For 5 Pay

If all the premiums have been paid for at least first two policy years.

For 10 Pay, 15 Pay, 20 Pay and 25 Pay

If all the premiums have been paid for at least first three policy years.

Grace Period: Offers a grace period of thirty (30) days from the due date. If the life assured dies during the grace period, Edelweiss Tokio Life will pay the death benefit, except the due premium till the date of death (if any).

Tax Benefit: All the premiums and the payout is exempted from the tax under Section 80C, 80D, 10(10D) of Income Tax Act 1961.

Paid up Value

In case of Regular Pay

No Paid-up benefit is available

In case of Limited Pay

For 5 Pay

The policy continues as a ‘Reduced Paid-up’ policy and all the benefits shall be reduced proportionately, provided all the premiums have been paid for at least first two policy years.

For 10 Pay, 15 Pay, 20 Pay and 25 Pay

The policy continues as a ‘Reduced Paid-up’ policy and all the benefits shall be reduced proportionately, provided all the premiums have been paid for at least first three policy years.

The benefits in reduced paid-up condition will be calculated as below:

Paid-up Base Sum Assured = Base Sum Assured x (Number of premiums paid/ Number of premiums payable)

Free-look Cancellation: To review the policy Edelweiss Tokio Life provides a 30 days of free-look period. If the policyholders disagree to any of the mentioned terms and conditions, you can cancel the policy stating the reasons.

If you cancel the policy during the grace period, you shall receive the refund of the premiums paid. But the refund would be processed after deducing the incurred expenses due to the medical tests, risk premium for the period of cover, and stamp duty charges.

Revival: If the premiums are unpaid even after due of grace period, the policy lapses.

The lapsed policy can be revived within 2 years from the due date of the first unpaid of the premium. The approval of reinstatement or the acceptance of revival will be considered only after the approval by the company's Board approved Underwriting.

The policyholder needs to produce an evidence of insurability and the same must be acceptable to the company's board of Underwriting.

The policyholder will have to pay all overdue premiums with late payment fee and/or interest. The life assured may be asked to undergo the medical tests before the revival of the policy, and the cost to be borne by the policyholder.

Edelweiss Tokio Life TotalSecure+ Exclusions

Suicide Exclusion: If the life assured commits suicide, whether sane or insane, within 12 months from the date of inception of the policy, 80% of the premiums received (excluding extra mortality premium) will be payable.

If the life assured commits suicide within 12 months from the date of revival of policy, the policy shall terminate and an amount which is higher of 80% of premiums paid till date of death will be payable.

Edelweiss Tokio Life TotalSecure+ Review

TotalSecure+ is a customizable term insurance plan. You can customize your plan with number of optional riders. Not only that, you have an option to select the policy period, sum assured, premium payment mode, payout as per your requirements. Since 2011, the company is growing exponentially across the country. In pursuit to serve the best possible service, their 5 pronged – transparency, convenience, commitment, communication, and fairness, approach towards the claim settlement process is what building trust in their customers.