Edelweiss Tokio Life Insurance Reviews, Ratings, Best Plans and USPs

Edelweiss Tokio Life Insurance

Edelweiss Tokio Life Insurance is a new player in the Indian market with plans that are carefully designed for the new-age Indian citizens. The company is a product of the collaboration between Edelweiss, a pioneer in the financial service sector in India, and Tokio Marine, a leading life insurance company in Japan. Edelweiss owns 74% stakes in the joint venture and Tokio Marine owns 26% stakes.

Edelweiss has 170 branches across the country with a strong client base of over 4 lakhs and a workforce of over 3000 personnel. Its subsidiary, Tokio Marine, a Japan-based insurance company, primarily focuses on life insurance, general insurance, and re-insurance. The company has branches in 39 countries and 427 cities.

Edelweiss, since its entry into the Indian finance market in 1996 has established widespread popularity for providing dynamic policies that include capital market, management of assets, housing, and insurance.

Life insurance is a protective tool that offers individuals security and safety with respect to their future. When life insurance policies are coupled with additional support in the form of healthcare coverage, educational support, and funds for retirement, they provide comprehensive security to investors. And Edelweiss Tokio Life does just that!

Edelweiss Tokio registered a claim-settlement ratio of 95.82% between 2018 to 2019, and has over 9 lakh happy customers.Edelweiss Tokio Life insurance promises to be the new-age life insurance company with portfolios that are customized and designed keeping in mind the requirements of the current generation.

    Prepare today for a relaxed and secure future.

    Check out the best health insurance plans here:

    Policy Type

    IndividualFloater

    Comprehensive coverage

    Edelweiss Tokio Life offers a complete protection plan with options for life cover and basic health cover. 

     

    Flexible payouts

    The insurers have the luxury of choosing one of the three payment modes for death benefits. The death benefits are given as a lump sum amount, monthly income, or a combination of the two.

     

    High claim settlement ratio

    The company has a high claim settlement ratio which reflects its commitment towards serving its customers. The claim settlement ratio of Edelweiss Tokio between 2018-2019 was 95.82%.

     

    Affordable premiums

    Edelweiss Tokio Life policy holders avail best-in-class insurance plans without having to break the bank.

     

    Frequency of payouts

    The monthly income can be availed as a bulk amount or as an increasing amount as per the insurer's choice. 

     

    Critical illness coverage

    Insurers can customize critical illness coverage to avail protection against 35 critical illnesses.

     

    Age limit

    The age limit for life cover includes individuals aged upto 99 years.

     

    Customizable plans 

    Among the features of Edelweiss Tokio Life plans that can be customised are premium payment, benefits and add-ons, and payment of death benefits. 

     

    Tax benefits

    Premiums paid by insured individuals are entitled to tax exemption of up to Rs 46,800.

    Edelweiss Tokio Life Insurance plans can be broadly classified into five types: 

    1. Term plans
    2. ULIP Plans
    3. Child Plans
    4. Pension Plans
    5. Investment Plans

    Edelweiss Tokio Life Term Plans

    This type of policy offers coverage for a certain period (years). It ensures financial support to the insurer's family in case of the insurer's death. In addition to financial security, term plans also provide tax benefits and hassle-free payout during a crisis. Edelweiss Tokio offers a variety of term policies for investors to choose from.

     

    Edelweiss Tokio Total Secure Plus

    The policy provides additional benefits when compared to a regular term insurance plan. The plan offers critical illness benefits and the luxury of choosing a health cover based on the insurer's requirements. 

     

    The options of health coverage are:

    1. Pure life cover
    2. Life cover plus " basic health cover" (that covers 7 critical illnesses) 
    3. Life cover plus "comprehensive health cover" (that covers 35 critical illnesses).

     

    Edelweiss Tokio Simply Protect

    The plan offers tax benefits for the premium amount paid by the insurer. It also provides:

    1. Life cover
    2. Life cover plus benefits for accidental death; it protects the insurer's family when an unexpected disaster strikes. The nominee receives an additional payout apart from the death benefit. 
    3. Life Cover plus premium waiver on total and permanent disability.

     

    Edelweiss Tokio My Life Plus

    This is a pure term insurance plan that provides financial protection to the policy bearer with a regular premium payment option. The SA (sum assured) received by the nominee on the death of the insurer is 10 times more than the annual premium. 

     

    Edelweiss Tokio Life Protection

    This is another pure term insurance plan with a life cover up to 99 years of age. The policy provides high returns at low premium rates. The plan offers three payment methods for premium.

     

    Edelweiss Tokio Life Income Replacement

    The policy offers monthly benefits to the nominee that replace the monthly income of the insurer after the insurer's demise. The premium can be paid as regular payment, limited payment, or single payment. In case of the policy holder's death, the nominee is provided with increasing monthly benefits for the entire policy term or 5 years. 

     

    Policy name

    Age limit

    Term of the policy

    Death benefits

    Edelweiss Tokio Total Secure Plus

    18-65 years

    10-62 years

    Lump Sum with a small portion of the death benefit paid as monthly income. 

    Edelweiss Tokio My Life Plus 

    18-60 years

    10, 15, 20, 25, 30, 35, and 40 years

    Lump Sum or income benefit as chosen by the investor.

    Edelweiss Tokio Simply Protect

    18-65 years

    10-40 years

    Lump Sum or lump sum plus income benefit

    Edelweiss Tokio Life Protection

    18-60 years

    10-30 years

    Assured Sum

    Edelweiss Tokio Income Replacement

    18-60 years

    10-30 years

    Monthly benefits till policy term ends or for 5 years.

     

    Edelweiss Tokio ULIP Plans

    ULIP Plans are doubly advantageous that are designed to assist in accumulation of wealth through risk cover and investment opportunities. Here are the six ULIP plans offered by Edelweiss Tokio:

    Edelweiss Tokio Wealth Accumulation

    The plan offers the flexibility of paying the fund value on maturity to the policy bearer. 

    Edelweiss Tokio Wealth Accumulation (Privilege)

    It is a ULIP Plan with risk protection that also empowers the investors to switch their investments from one fund to another.

    Edelweiss Tokio Wealth Plus

    This is a customer-friendly plan that provides the privilege of choosing the premium amount, term of the policy, and the term for premium payment. 

    Edelweiss Tokio Wealth Ultima

    This is a Systematic Monthly Plan (SMP) that enables insurers to pay their premium on monthly terms and get protection from unpredictable market fluctuations. 

    Edelweiss Tokio Wealth Enhancement

    This is a plan with a single premium payment option.

    Edelweiss Tokio Wealth Acceleration

    This ULIP Plan provides a limited and regular premium payment option with guaranteed additions.

     

    Here's a detailed look at Edelweiss Tokio's different ULIP plans:

    Policy Name

    Age Limit

    Term of the policy

    Maturity Benefits

    Death Benefits

    Edelweiss Tokio Wealth Accumulation 

    5-65 years

    10, 15, 20, 25, or 30 years

    Total value of the fund

    Fund value + SA

    Edelweiss TOKIO Wealth Accumulation (Privilege)

    5-65 years

    10, 15, 20, 25, or 30 years

    Total fund value

    Fund Value or SA 

    Edelweiss Tokio Wealth Plus

    1-55 years

    10 or 20 years

    Fund Value

    Fund Value, SA


    105% of total premium or 105% top-up fund value


    Top-up fund value

    Edelweiss Tokio Wealth Ultima

    17-70 years

    10 years

    Fund value

    Fund Value, SA


    105% of total premium or 105% top-up fund value


    Top-up fund value

    Edelweiss Tokio Wealth Enhancement

    5-65 years

    10, 15, or 20 years

    Nil

    Fund Value or SA (up to 105% premium paid)

    Edelweiss Tokio Wealth Acceleration 

    5-65 years

    10, 15, 20, 25or 30 years

    Nil

    Fund Value or SA

     

    Edelweiss Tokio Child Plans

    The child plan protects the future of the insurer's child and offers a wholesome death benefit. In case of the death of the policyholder, the future premium amounts to be paid are waived off thereby, assuring the total maturity value to the insurer's child.

    Here's a detailed look at Edelweiss Tokio's different Child plans:

    Policy Name

    Age limit

    Term of the Policy

    Benefits

    Edelweiss Tokio Edusave Plan

    18-45 years

    10-30 years 

    Maturity benefit: Sum Assured plus accumulated bonuses


    Death benefit: Sum assured with a waiver of future premium amounts and maturity benefits

     

    Edelweiss Tokio Pension Plans

    Edelweiss Tokio Pension Plans maintain flow of income until an individual reaches 100 years of age. Here's listing the six pension plans offered by Edelweiss Tokio. 

    Edelweiss Tokio Cash flow Protection

    The plan offers an assured income and life cover till the age of 100. 

    Edelweiss Tokio Triple Advantage

    This is a non-linked and non-participating pension plan that provides an assured lump sum amount that is equal to the sum assured on twice the policy term. 

    Edelweiss Tokio Cash Income

    The plan offers a survival benefit that can be received by the insurer at the end of 40 years. 

    Edelweiss Tokio Pension Plan

    There are various retirement plans, some focusing on pensions while others take care of the retirement funds. 

    Edelweiss Tokio Easy Pension

    It is a non-linked and non-participating pension plan that guarantees an adequate amount required for a tension-free retired life at low premium rates.

    Edelweiss Tokio Immediate Annuity

    This is an annuity plan that takes care of retirement funding by providing an annual income even after retirement.

     

    Here's a detailed look at Edelweiss Tokio's various Pension plans:

    Policy Name

    Age Limit

    Term of the Policy

    Death Benefits

    Maturity Benefits

    Edelweiss Tokio Cash flow Protection 

    91 days – 55 years

    100 years (minus entry age)

    SA, and benefits up to 105% of paid premium

    SA and terminal benefit (if applicable)

    Edelweiss Tokio Cash Income

    91 days -55 years

    100 years (minus entry age)

    10 times of annual premium or 105 % of total premium paid till death.


    Maturity benefits

    Sum assured

    Edelweiss Tokio Triple Advantage

    91 days – 55 years

    100 years (minus entry age)

    SA, and benefits up to 105% of paid premium   depending on the entry age of the insurer.

     

    SA and terminal benefit (if applicable)

    Edelweiss Tokio Pension Plan

    18-65 years

    10-40 years

    Total premium amount paid or 105% of total premium paid. 

    Sun assured + accumulated bonuses 

    Edelweiss Tokio Easy Pension

    18-75 years

    10-67 years

    Fund value or assured benefit or 105% of total premium paid

    Fund Value or assured benefit

    Edelweiss Tokio Immediate Annuity 

    18-85 years

    -

    Based on the insurer’s option.

    Based on the insurer’s choice

     

    Edelweiss Tokio Investment Plans

    Edelweiss offers guaranteed maturity and death benefits through a variety of traditional and new-age plans that are packed with additional benefits and features. 

    Here are the nine investment plans offered by Edelweiss Tokio:

    Edelweiss Tokio POS Saral Nivesh

    It is a non-linked and non-participating investment plan with assured benefits.

    Edelweiss Tokio GCAP

    It is another non-participating investment plan with guaranteed benefits.

    Edelweiss Tokio Smart Lifestyle

    This non-linked participating investment plan offers increased benefits to keep up with the changing lifestyles of the insurers. 

    Edelweiss Tokio Wealth Builder

    A non-participating plan with additional benefits offered through loyalty additions. 

    Edelweiss Tokio Guaranteed Income Plan

    This is an endowment plan with guaranteed returns and tax-free income. 

    Edelweiss Tokio Wealth Enhancement

    This plan provides a single payment option for premium payment.

    Edelweiss Tokio Milestones Plan

    An endowment plan that provides cash back at regular intervals thereby helping the investors with wealth accumulation.

    Edelweiss Tokio Safe and Sure

    This endowment plan is built for accumulating the wealth of the investor resulting in a huge maturity benefit. 

    Edelweiss Tokio Single Pay Endowment Assurance

    The Single Pay Endowment Assurance plan is a non-participating endowment policy offered without bonuses.

     

    Here's a detailed look at Edelweiss Tokio's various Investment plans:

    Policy Name

    Age Limit

    Term

    Maturity Benefits

    Death Benefits

    Edelweiss Tokio POS Saral Nivesh

    1-50 years

    10-20 years

    SA

    10 times the annual premium amount and SA 


    105 % of the total premium

    Edelweiss Tokio GCAP

    91 days- 55 years

    10, 15, 20, 25, or 30 years

    SA plus accumulated benefits

    SA


    105% of total premium paid (if entry age is less than 5 years)

    Edelweiss Tokio Smart Lifestyle

    1-50 years

    10, 15, or 20 years

    SA

    As per the insurer’s choice

    Edelweiss Tokio Wealth Builder

    3-55 years

    10 or 15 years

    SA and assured loyalty additions

    SA plus accumulated benefits

    Edelweiss Tokio Guaranteed Income Plan

    3-55 years

    15 years

    200% of the yearly premium paid

    Lump-sum benefits

    10 times of annual premium paid or 125% of the yearly premium paid till death.

    Edelweiss Tokio Wealth Enhancement

    5-65 years

    10, 15, or 20 years

    Fund Value

    Fund Value or SA

    Edelweiss Tokio Milestones 

    14-40 years

    16, 20, 25, or 30 years

    40% of SA and accumulated benefits

    SA and accumulated bonuses.

    Edelweiss Tokio Safe and Sure

    5-55 years

    15, 20 or 25 years

    SA

    SA

    Edelweiss Tokio Single Pay Endowment

    8-80 years

    10 or 15 years

    SA

    SA

    Best Policies offered by Edelweiss Tokio Life Insurance

    Policy Name

    Age Limit

    Term of the policy

    Maturity benefits

    Death Benefits

    Edelweiss Tokio Total Secure Plan

    18-65 years

    10-62 years

    Nil

    Lump-sum with a small portion of the death benefit paid as monthly income. 

    Edelweiss Tokio Wealth Plus

    1-55 years

    10 or 20 years

    Total value of the fund.

    Fund value and sum assured.


    105% of the total premium paid and top-up fund value. 

    Edelweiss Tokio Edu Save Plan

    18-45 years

    10-30 years

    SA + accumulated benefits

    Nil

    Edelweiss Tokio Triple Advantage Plan

    91 days – 55 years

    100 years (minus entry age)

    SA + terminal bonus (if applicable)

    SA, and benefits up to 105% of paid premium depending on    the entry age of the insurer.

    Edelweiss Tokio Smart Lifestyle

    1-50 years

    10, 15, or 20 years

    SA

    As chosen by the insurer.

    Edelweiss Tokio Wealth Builder

    3-55 years

    10 or 15 years

    SA+ assured loyalty benefits

    SA+ accumulated benefits



    Edelweiss Tokio Life Insurance company has an overall excellent rating of 4.3/5 on Policy Bazaar. The break-up of the rating is shown below:

    • Customer Service: 4/5
    • Policy benefits: 4/5
    • Policy Coverage: 4/5
    • Premium: 3/5

    Customers of Edelweiss Tokio have acknowledged the company for its easy-to-buy online life insurance policies, fantastic choice of plans, comprehensive coverage, quality investment opportunities, and excellence in customer service.

    Crisil rated Edelweiss Tokio's Wealth Secure Plan as the best ULIP Plan in 2020.