Edelweiss Tokio Life Insurance Company Limited

Edelweiss Tokio Life Insurance Company Limited

Edelweiss Tokio Life Insurance Company Ltd is a private sector insurer and a joint venture between Edelweiss Financial Services Limited – one of the top and diversified financial services companies in India and Tokio Marine Holdings Inc – one of the oldest and biggest insurance companies in Japan, having a worldwide presence.

Edelweiss Tokio Life Insurance established itself in 2011 and offers an array of protection plans, child education plans, savings plans, retirement plans amongst others catering to the various needs of customers. Their products are carefully designed to build a stable future along with guaranteed interest payment and high returns.

Why opt for Edelweiss Tokio Life Insurance?

  • Quality:
  • Edelweiss Tokio Life Insurance focuses on providing quality service to its customers above anything else be its quality products, advice, or sale services.
  • Cost-effective:
  • The insurance provider believes that everyone should have a financially secured future that’s why they work towards providing cost-effective products and operations.
  • Customer-centric:
  • Edelweiss Tokio Life Insurance aims at offering effective solutions with a customer-centric approach. Hence the insurer looks at its products, services through the customer’s perspective and accordingly design effective solutions.
  • Competent Advisors:
  • The company boasts of well-qualified advisors who undergo rigorous training to understand customer’s requirements, identify their problems, and provides the right solutions.
  • Easy claim settlement process:
  • Edelweiss Tokio Life Insurance company is known for its fast and seamless claim settlement process.
  • Customizable insurance plans:
  • Edelweiss Tokio Life Insurance Company provides customizable plans to enable policyholders to choose as per their requirements.

Facts about Edelweiss Tokio Life Insurance

  • Edelweiss Tokio Life Insurance has a claim settlement ratio of 83.44% (IRDAI Annual Report 2019-20).
  • The number of branches as of November 1st,2020 is 116.
  • The company boast of a wide network of over 40,000 agents, selling its plans across India.
  • Edelweiss Tokio Life Insurance has won several accolades for its service and products while proving itself as credible partners in the life insurance segment.

Types of Life Insurance Plans offered by Edelweiss Tokio Life Insurance 

  • Term Insurance Plans: Edelweiss Tokio Life Insurance term plans are specially designed to provide comprehensive life cover with an option to add your spouse, top-up benefit option, and riders at a pocket-friendly price.
  • Saving Plans: These plans help in building secured funds during the policy term along with the life cover. Edelweiss Tokio saving plans provide guaranteed death and maturity benefit while offering risk-free returns.
  • Unit Linked Insurance Plans: These plans are ideal for those looking for insurance and investment. One part of the premium paid is invested in the insurance and the other goes into the investment fund.
  • Investment Plans: These investment plans provide guaranteed returns as well as life cover. It gives the flexibility to add riders to enhance the plan.
  • Retirement Plans: Edelweiss Tokio Life Insurance retirement plans offer protection as well as the benefit of pension. These plans secure your retirement period while giving complete financial independence for the later years.

Edelweiss Tokio Term Insurance Plans

Here we listed out the Edelweiss Tokio Term Insurance Plans as mentioned below:-

  • Edelweiss Tokio Life Zindagi Plus
  • Edelweiss Tokio Life Saral Jeevan Bima
  • Edelweiss Tokio Life Simply Protect
  • Edelweiss Tokio Life Total Protect Plus
  • Edelweiss Tokio Life My Term Plus
  • Edelweiss Tokio Life Protection

Documents required to apply for Edelweiss Tokio Life Insurance Policy

The documents required to buy Edelweiss Tokio Life Insurance policy:

  • Duly filled and signed Proposal form
  • Identity Proof – PAN card, Voter ID, Aadhaar Card, Passport
  • Address Proof – Aadhaar Card, Voter ID, Passport, Driving License, Ration card
  • Income Proof – Salary slips, latest form 16, Bank statement, last 3 years Income tax return
  • Age Proof – Passport, PAN card, Birth certificate.

Exclusions in Edelweiss Tokio Life Insurance Policy

The insurance company shall not process the claim or reject the claim in case of death due to below mentions factors:

  • Accidental deaths under the influence of alcohol or any narcotics.
  • Death while driving during a criminal act.
  • Death due to participation in adventure sports like skydiving, rafting, bungee-jumping etc.
  • Death by suicide: In case of the insured’s demise due to suicide within 12 months to 2 years from the date of policy commencement, 80% of the premiums paid are returned to the policy beneficiary. The suicide clause is usually covered in the term insurance policies; however, it is only applicable after 12 or 24 months after the policy issuance depending on the terms and conditions.
  • Death due to self-inflicted injuries.
  • Death due to sexually transmitted diseases (STD) such as HIV/AIDS.
  • In case of murder, if the investigations reveal that the policy nominee was involved in a crime, then the insurer will put the claim on hold till the accused is cleared of the charges.

 

FAQs:

Why should I opt for Edelweiss Tokio Term Insurance?

Edelweiss Tokio term insurance plans offer high coverage at affordable premiums. These plans financially secure the insured’s family during difficult times. Edelweiss Tokio term plans also cover COVID-19 death claims and give the option to add riders.

What will happen if I fail to pay the premium within the due date?

In case you fail to pay the premium within the due date, you would get an extension to make the payment. This period is referred to as the grace period, and during this period, you get the benefit of full policy coverage.

What is the process of reviving a policy if it gets lapsed?

The lapsed policy can be revived within 6 months from the date of the policy being lapsed by paying the unpaid premiums and the revival charge. After 6 months the policy can be revived by submitting a “Certificate of Insurability.”

What is the grace period under Edelweiss Tokio term insurance plans?

Edelweiss Tokio Life Insurance provides a 30-day grace period from the date of unpaid premium. If you fail to pay premiums within the grace period, then the policy will lapse. However, during the grace period, the policy remains active.

What is the free look period offered under Edelweiss Tokio term insurance plans?

Edelweiss Tokio Life Insurance offers 15 days free-look period. Under the free-look period the policyholder can return or cancel the policy by stating the valid reasons.

What is the Better-Half benefit under Edelweiss Tokio's term insurance policy?

The better-half option refers to the additional life cover for the spouse in addition to the life cover.

What is meant by rider under Edelweiss Tokio term insurance policy?

Riders are add-on benefits that can be added with the base plan to widen the scope of base policy coverage by paying an additional cost. Riders cover against specific conditions.

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