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Edelweiss Tokio Term Insurance
Edelweiss Tokio Term Insurance
Protecting your family’s future has never been more imperative than it is now. You never know
when your luck takes a turn for the worse and your family finds itself in dire straits after suddenly
losing a breadwinner. This is why Edelweiss Tokio’s term insurance is a prudent choice when it
comes to securing your loved ones’ financial health in the unfortunate event of your demise.
Established in 2011
No of Agents 58,145
Branches 116
Pocket-friendly premiums High coverage for term plans offered at low premiums
This plan has a variety of options that can be availed whether you are a married couple or a
family with children.
Key features:
Maximum age:
Life Cover with Level Sum Assured Option:
Regular Pay: 65 Years (life insured) and 60 years (spouse)
Pay till 60: 50 years (life insured and spouse)
Life Cover with Decreasing Sum Assured Option:
Regular Pay: 55 Years (life insured) and 55 years (spouse)
Pay till 60: 50 years (life insured and spouse)
Age of maturity
Life Cover with Level Sum Assured Option:
Regular Pay: Minimum is 28 years and the maximum is 80
years
Pay till 60: Minimum is 65 years and the maximum is 80
years
Sum assured The minimum is 25 Lakhs and the maximum limit is subject
to approval
For individuals seeking basic financial security for their loved ones at an economical price, this
plan is the perfect choice for you.
Key features:
● Hassle-free: This plan comes with simple, straightforward processing with quality
protection and coverage.
● Tax Benefits: Avail tax benefits as per current income tax laws.
● Death benefit: Receive death benefit upon death of insured.
Premium payment For Regular & Limited Pay: Annual, Semi-Annual, Monthly
frequency (only under ECS / NACH)
The following conditions are not covered under Edelweiss Tokio term insurance plans:
● Death due to suicide within 12 months from date of commencement or renewal of the
policy
● Better Half Benefit -
○ Death of spouse before the death of the policyholder
○ Death of policyholder and their spouse simultaneously
● After the death of the policyholder, if the spouse dies by suicide with 12 months of the
date of commencement or renewal of the policy, the beneficiary receives 80% of Better
Half Benefit premiums paid
Riders are a great way to enhance the coverage of your term plan. Edelweiss Tokio offers the
following riders on its term insurance policies.
1. Accidental Death Benefit - Accidents, by their very nature, are sudden and give no warning.
Death by accident can happen at any time to anyone. Edelweiss Tokio’s accidental death benefit
rider provides an assured sum of a minimum of INR 10,000 to the nominee in case of the
policyholder’s death due to an accident.
2. Critical Illness - Critical illnesses have the capacity to drain you physically, mentally, and
financially. With this rider, you will receive the assured sum of up to INR 50,00,000 to manage
your expenses when you’re diagnosed with a critical illness. The sum assured is payable only
once. A list of the critical illnesses covered is available on the official website.
3. Accidental Total and Permanent Disability - Some accidents can leave you with a lifelong
disability which could hamper your income and expenses. With the accidental total and
permanent disability rider, you will be eligible to receive a lump sum amount of at least INR
1,00,000 in the event of a total and permanent disability due to an accident.
4. Waiver of Premium - If you face an accidental permanent and total disability or a critical
illness diagnosis, this rider waives off all future premiums without any compromise to your
current term plan.
5. Hospital Cash Benefit - While hospitalization charges are covered by health insurance
policies, costs arising once you are discharged and recovering at home aren’t. The hospital
cash benefit rider provides you with a cash benefit of a minimum of INR 1000 up to INR 6000 a
day, right from the first day of your hospitalization. If you were admitted to the ICU, the rider
provides you 1% of the sum assured for each day you were in the ICU. It also provides a lump
sum amount of 4% of your total sum assured in the form of a recuperating benefit, which will
help take care of expenses while you focus on resting and recovering.
To buy an Edelweiss Tokio term plan, you will need to submit the following documents:
● Identity proof
● Address proof
● Proof of age
● Proof of income
While buying the policy online, you can scan a copy of the above-mentioned documents and
mail them or click a photo and send them via WhatsApp.
In the unfortunate event of the policyholder’s demise, you will need to file a claim with the
company to receive the benefits.
1. Give written intimation to the insurance company of the impending claim as soon as
possible. You will need to provide details like the policy number, name, and date of death
of the policyholder, cause and place of death, and the name of the claimant.
2. Provide the requisite documents so the insurance provider can begin processing your
claim.
3. The insurance company will then process your claim and release the payout if the claim
is deemed valid. In case, the claim needs to be investigated further, the insurance
provider has up to 6 months from the date of the written intimation to finish its
investigation.
To file a claim, you will need to submit the following documents to the insurance provider based
on the situation.
FAQs
1. Why should I opt for a term insurance policy?
Ans: Life is uncertain, and you never know when it might end. As a breadwinner, you provide
for your family and have established a certain standard of living. You may also be paying off
loans. Even with multiple breadwinners in the family, the loss of even one can seriously hamper
the family’s finances. Being covered by a term plan will ensure that your family will be well taken
care of after you’re not around.