- About Coverfox
A joint venture between Edelweiss Financial services of Mumbai and Tokio Marine Holdings Inc. of Japan formed Edelweiss Tokio Life Insurance. It was established in 2011 and is one of the leading financial service providers in India. This is a company which provides a wide range of products to fulfil the financial requirement of its customers.
Edelweiss Tokio Life Insurance Company’s Unit Linked Insurance Plans (ULIP) are insurance plans that are perfectly combined with the features of insurance and investment. It is designed to meet all the expectation and requirement of its investor. There are various types of Edelweiss Tokio Life ULIP Plans introduced by the company to choose as per the requirement of its customers.
A non-linked life insurance plan offers both investment and risk protection. This plan gives you an option to switch between various funds and opt for managed fund option to get benefit from the expertise of the investments team of Edelweiss Tokio Life.
The Edelweiss Tokio Wealth Accumulation (Cover Plus) is a non-participating unit linked insurance plan that provides both- risk protection and investment. With this plan, you can also avail various benefits to manage your wealth accumulation requirements.
The Edelweiss Tokio Life - Wealth Enhancement Ace offers numerous benefits that aim to maximize our returns. You can opt for various flexible funds in addition to loyalty additions which will help you grow good returns.
A large premium amount is invested under Edelweiss Tokio Life - Wealth Accumulation (Privilege). There are low premium allocation charges and no charges for policy administration, switching, partial withdrawals and premium redirection in this plan. Along with this, the death benefit paid is higher of Sum Assured or 105% of premium paid.
Edelweiss Tokio Life ULIP Plans come with various benefits and features that make it a must-have option as your investment instrument. This plan fulfils all your financial needs and gives the protection of insurance coverage. Following features make Edelweiss Tokio Life ULIP Plans one of the most trusted investment options:
The plans act as both an insurance cover and investments in capital markets. A part of the premium is invested while the other part of the premium is used as an insurance coverage.
With Edelweiss Tokio Life ULIP Plans, you have the option to choose investment strategies according to your risk appetite.
Investment in Edelweiss ULIP plans provides tax benefits as per the Section 80C and 10(10D) under the Income Tax Act, 1961.
The sum assured will be paid to the nominee in case of any uncertain event such as the death of the insurer.
You can also surrender or partially withdraw from your ULIP.
Edelweiss Life Insurance Company asks for minimum documentation and keeps the process of applying and withdrawal simple. For first time investors, it is so convenient and easy to understand the whole process to avail the plan. To apply for the Edelweiss Tokio Life ULIP Plans, the policyholder has to fill up the application form available at the nearest branch of Edelweiss Tokio Life Insurance Company and submit it with identity proof, bank account proof, address proof and a recent photograph.
Proof of residence: This proof may consist of the following documents-
Any utility bill not older than two months of any service provider.
What should I do if I want to change my premium paying?
Consult with the customer service team of Edelweiss Tokio Life Insurance. As per the response provided, fill in the applicable forms. If the plan provides an option for changing the premiums, the customer service team will act on your request.
Why you should opt for Edelweiss Tokio Life Wealth Accumulation (Cover Plus)?
Edelweiss Tokio Life - Wealth Accumulation (Cover Plus) gives you various benefits such as you can pay premiums for a limited period and can switch investment between funds. You can also access your wealth through various facilities such as partial withdrawals and loans.
How to pay a premium? What are the modes of payment available?
Edelweiss Tokio Life Insurance offers the following modes of payment:
How can I check policy status for Edelweiss Tokio Life ULIP Plans?
Register yourself on the e-portal and provide the details such as Policy number and date of birth and get all the details at your fingertips.
What is the policy renewal process for Edelweiss Tokio Life ULIP Plans?
Renewal of your policy can be done by paying the renewal premium through the following modes:
What is the company’s process to settle a claim for Edelweiss Tokio Life ULIP Plans?
The company’s process to settle a claim for Edelweiss Tokio Life ULIP Plans is as follows- Submit all the documents related to policy in your nearest branch along with claim form in your city and after verification, you will receive your money through NEFT. It takes 30 days to settle the claims .
What is the policy cancellation process for Edelweiss Tokio Life ULIP Plans?
The policy cancellation is as follows- Submit a duly filed surrender form along with relevant documents at any branch and after verification, the policy will be deemed to be cancelled within 10 days as per bank accounts record.
How does Edelweiss Tokio Life ULIP Plans work?
The premiums paid under an Edelweiss ULIP plan after deduction of applicable charges are invested in the chosen fund. On maturity, the policyholder receives the total fund value and in case of death of the policyholder during the policy term, the value is paid. The death benefit is higher of sum assured or fund value as on the date of intimation of death.
What is Edelweiss Tokio Life ULIP Plans in India?
The ULIP Plans provided by the joint venture of Edelweiss Tokio Life are the perfect combination of investment and insurance. The plans offer different options for investing your money and get better returns, and also gives you an option to choose investment strategies according to your risk appetite.