Edelweiss Tokio Life Insurance
Edelweiss Tokio At A Glance
| Company Name | Edelweiss Tokio Life Insurance Company Limited |
| Companies in Joint Venture | Edelweiss Group and Tokio Marine |
| Established in | 2011 |
| MD & CEO | Mr Sumit Rai |
| Claim Settlement Ratio | 97.01% |
| Number of Agents | 58,145 |
| Number of Branches | 116 |
| Awards and Achievements | No 1 ULIP – CRISIL; Asia’s Best Insurance Company award for Digital Sales Channel – Insurance Alerts Awards 2020; Best Innovation in Customer Service – 25th BFSI Tech Innovation Forum; Product Innovation Company of the Year – India Insurance Summit & Awards 2020; Best Life Insurer – Outlook Money Awards 2016 and many more. |
| Solvency Ratio (FY 2019-2020) | 2.32 (March 2020) |
| Premium Underwritten (RS.) (2019-2020) | 1,048.48 |
| First year premium (Up to 31st March, 2021) | 455.28 |
| No. of policies (Up to 31st March, 2021) | 80160 |
| No. of lives (Up to 31st March, 2021) | 272866 |
| Sum assured (Up to 31st March, 2021) | 20515.90 crore |
Edelweiss Tokio Life Insurance Plans
1. Edelweiss Tokio Term Insurance Plans
Term insurance provides coverage for a specific term. If the insured person faces an untimely death, the beneficiary gets a payout.
i. Edelweiss Tokio Total Protect Plus
With this term plan, you have a lifelong financial cushion to fall back on anytime you and your family need it.
Key Features:
- Life-long cover – With this cover, you get coverage till the age of 100.
- Spouse coverage – You have the option to extend coverage to your spouse
- Child’s future protection benefit – You get an additional option for life cover during the child’s growth years.
- Income payout – You can choose to receive income payouts at the age of your choice
- Premium discount – If you complete medical screening with seven days of purchase, you get a 6% discount on the first year’s premium.
| Age of entry | Minimum age – 18 years (for Life Cover option, Return of Premium option and Live Long option) Maximum age: Life Cover option: PPT – 5/7/10/15/20: 65 years PPT- Regular Pay (RP): 55 years Return of Premium option: PPT – 5/7/10/15/20: 60 years PPT – RP: 50 years Live long option: Income Pay-out Commencement age 60: 50 years Income Pay-out Commencement age 65: 55 years |
| Age of maturity | For the Life Cover option, Return of Premium option minimum – 28 years and the maximum is 100 years. For Live Long option: Income Pay-out Commencement age 60: 70 years Income and the maximum is 100 years Pay-out Commencement age 65: 75 years and maximum is 100 years |
| Policy term | The minimum for Life Cover option, Return of Premium option: 5 pay, 7 pay & Regular Pay: 10 10 Pay: 15 15 pay: 20 20 Pay: 25 The minimum for Live Long option is: 5 Pay, 7 Pay, 10 Pay & 15 Pay: 20 20 Pay: 25 The maximum is 100 years less age at entry |
| Sum assured | The minimum for Life Cover option: Rs. 25,00,000 The minimum for Return of Premium option: Rs. 10,00,000 The minimum for Live Long option: Rs. 25,00,000 The maximum has no limit, subject to approval. |
| Premium amount | For all plan options (minimum): Annual – Rs. 3,000 Semi-Annual – Rs. 2000 Quarterly – Rs. 1,250 Monthly – Rs. 300 The maximum has no limit, subject to approval. |
ii. Edelweiss Tokio Zindagi Plus Plan
A simple and perfect way to provide your spouse or loved one with some extra financial protection at a time of need, even in your absence.
Key Features:
- Life cover – Customizable cover which includes cover for OCVID-19 as well.
- Cover for your better half – Coverage of 50% of your cover extends to spouse with Better Half Benefit option
- No medical option – Opt for a non-medical underwriting status up to a sum assured of INR 99,99,000
- Waiver of premium benefit – If you face one of the 35 critical illnesses that are covered then, you don’t have to worry about premium payment.
| Age of entry (last birthday) | Minimum age – 18 years 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 Life Cover with Decreasing Sum Assured Option: Regular Pay: Minimum is 65 Years and the maximum is 80 years Pay till 60: Minimum is 65 years and the maximum is 80 years |
| Policy term | Minimum policy term: Regular Pay – 10 years Pay till 60 – 15 years Maximum: {80 – Age at Entry (age last birthday)} years |
| Sum assured | The minimum is 25 Lakhs and the maximum limit is subject to approval |
| Premium amount | The minimum is: Annual – Rs. 3,000 Semi-Annual – Rs. 2000 Quarterly – Rs. 1,250 Monthly – Rs. 300 The maximum has no limit, subject to approval. |
| Premium payment frequency | Annual, Semi-Annual, Quarterly, Monthly |
iii. Edelweiss Tokio Simply Protect Plan
The perfect plan that provides security to a family at extremely competitive prices, making things easier and better for you.
Key Features:
- Long life cover – Coverage lasts until the age of 80 years
- Flexible premium payment terms – To make things easier for you the premiums are affordable as well as come with flexible payment options so you can choose what works for you.
- Payout options – You know your needs the best and based on this, you can pick one that suits you.
| Age of entry | Minimum age – 18 years last birthday Maximum age – 65 years last birthday |
| Age of maturity | The maximum age of maturity is 80 years last birthday |
| Policy term | 10 years to 40 years For coverage up to age 80 years: 62 years |
| Sum assured | The minimum is Rs. 25,00,000 and the maximum limit is subject to approval |
| Premium payment terms | Single Pay/Limited pay of 5,10,15,20 and Regular pay |
| Premium amount | The minimum is Rs. 3,000 |
| Premium payment frequency | Annual or single |
iv. Edelweiss Tokio Saral Jeevan Bima
If you’re looking for a plan you can customize to your needs, this is the one. This plan not only covers your present requirements but is designed keeping in mind a long-term view.
Key Features:
- Life cover – You get to live life to the fullest as this cover comes with a life cover. Choose from life cover of Rs. 5 lakhs to Rs. 25 lakhs (in multiples of 50,000)
- Limited pay – If you wish you may complete all premium payments within 5 to 10 years and enjoy the benefits of the plan until the end of the policy’s term.
- Flexible premium payment terms – To make things easier for you the premiums are affordable as well as come with flexible payment options so you can choose what works for you.
- Covid-19 – You get coverage for death due to any pandemic such as COVID-19.
| Age of entry | Minimum age – 18 years last birthday Maximum age – 65 years last birthday |
| Age of maturity | The maximum age of maturity is 70 years last birthday |
| Policy term | 5 years to 40 years |
| Sum assured | The minimum is Rs 5,00,000 (Sum Assured would be allowed only in the multiple of Rs. 50,000) and the maximum is Rs 25,00,000 subject to board approved underwriting policy |
| Premium payment terms | Regular Pay: 5 to 40 years Limited Pay: 5 & 10 years Single pay |
| Premium amount | The minimum is: Annual: Rs. 1,206 Semi-annual – Rs. 617 Monthly – Rs. 106 The maximum has no limit, subject to approval. |
| Premium payment frequency | For Regular & Limited Pay: Annual, Semi-Annual, Monthly (only under ECS / NACH) For Single Pay: Lumpsum |
2. Edelweiss Tokio Investment Plans
ULIPs is a two-in one plan that offers both protection and investment. Edelweiss Tokio has a range of options that cater to different needs.
i. Edelweiss Tokio Premier Guaranteed Income Plan
Whether a diagnosis of a critical illness or an untimely death, you get protection from this plan. If all premiums are paid, you get a guaranteed lump sum and/or guaranteed regular income.
Key Features:
- Protection and income – With this plan, you get the dual benefits of protection along with a regular guaranteed income.
- Guaranteed returns – Based on your investment, you get guaranteed returns. When you know how much you’re getting, you can plan your future accordingly.
- Loan facility – You have the opportunity to live life the way you want as you get to avail a loan at a time of need.
- Family income benefit – This is an optional benefit that ensures that during a covered critical illness or death, you and your family get benefits.
| Age of entry (last birthday, in years) |
| |||||||||||||||||||||||||
| Age of maturity | Lump sum option – 18 years and 85 years Short term income option – 18 years and 91 years Long term income option – 22 years and 99 years Retirement Income option – 80 years and 80 years | |||||||||||||||||||||||||
| Minimum Policy term |
| |||||||||||||||||||||||||
| Maximum Policy Term |
| |||||||||||||||||||||||||
| Sum assured | The minimum is Rs 5,00,000 and the maximum is Rs 25,00,000 subject to board approved underwriting policy | |||||||||||||||||||||||||
| Premium payment terms | Lump Sum, Long-Term Income and Retirement Income is 5, 8, 10 & 12 Short-Term Income is 8, 10 & 12 | |||||||||||||||||||||||||
| Premium amount | Annual: Rs. 50,000 Half yearly: Rs. 25,600 Quarterly: Rs. 13,000 Monthly: Rs. 4,400 The maximum has no limit, subject to approval. | |||||||||||||||||||||||||
| Premium payment frequency | Annual, Half yearly, Quarterly and Monthly | |||||||||||||||||||||||||
| List of Critical Illness conditions covered under Family Income Benefits | Major Organ / Bone Marrow Transplant Permanent Paralysis of Limbs Stroke resulting in permanent symptoms Major Surgery of Aorta Coma of Specified Severity Total Blindness Cancer of Specified Severity Open Chest Coronary Artery Bypass Graft (CABG) Myocardial infarction (First Heart Attack of Specific Severity) Open Heart Replacement or Repair of Heart Valves Kidney failure requiring regular dialysis Third Degree Burns |
ii. Edelweiss Tokio GCAP Plan
With this plan, you have the opportunity to accumulate wealth so whether it’s a wedding or early retirement, you can plan ahead and remain stress-free.
Key Features:
- Guaranteed returns – Based on your investment, you get guaranteed returns. When you know how much you’re getting, you can plan your future accordingly.
- Affordable premium – Premiums are budget-friendly so you can easily take advantage and enjoy the benefits of this plan.
- Waiver of premium – Ensures that during a covered critical illness or permanent disability, the premiums are waived off.
- Protection against critical illnesses – When you’re diagnosed with any of the covered 12 critical illnesses, you get a lump sum payout.
- Loan against policy – When you need a little financial support, you can avail of a loan against the policy.
| Age of entry | Minimum age – 91 days Maximum age – 55 years last birthday |
| Age of maturity | The minimum age is 18 years (last birthday) and the maximum age of maturity is 70 years (last birthday) |
| Policy term | 10, 15, 20, 25 and 30 years |
| Sum assured | Minimum: Rs 1,65,000 Maximum: No Limit |
| Premium payment terms | 5, 7, 10 and 12 years |
| Premium amount | The minimum is: Annual: Rs. 15,000 Semi-annual – Rs. 8,000 Quarterly: Rs. 4,000 Monthly – Rs. 1,500 The maximum has no limit, subject to approval. |
| Premium payment frequency | Annual, Semi-annual, Quarterly, Monthly |
iii. Edelweiss Tokio Wealth Secure Plus Plan
Whether it’s caring for your family in your absence or planning for the big moments of your life, this plan helps you achieve it all.
Key Features:
- Long life cover – You get life cover until the age of 100 years and you have optional coverage for spouse and child which can be added as well.
- Low premiums – You don’t have to wait to start investing. This plan allows you to start with premiums as low as INR 1000 per month.
- Boost your plan – Add a surplus into your plan with the top-up premium option that’s available. You also get an annual loyalty addition from the end of the 6th term year onwards plus booster additions every 5th year after 10 years of the policy term.
- Payout option – If you choose the regular payout option you can ensure your retirement time is sorted.
- Choice of fund – Pick from a range of seven diverse funds to get you the maximum wealth accumulation.
| Age of entry (last birthday) |
| ||||||||||||
| Age of maturity (last birthday) | With PPT < 10 years: Base plan: 18 years to 70 years Life partner and child plan: 23 years to 55 years With PPT >/= 10 years: Base plan: Option 1: 18 – 70 years Option 22: 100 years Life partner and child plan: 23 years to 60 years | ||||||||||||
| Policy term | For base plan: Option 1: 5 – 25 years Option 22: 100 minus entry age Life partner and child plan: 5 years to 25 years | ||||||||||||
| Sum assured | Minimum: 7 x Annualized Premium Maximum: 10 x Annualized Premium | ||||||||||||
| Premium payment terms | Regular Pay: Same as the policy erm Limited Pay: 5 years – (Policy term minus 1) years | ||||||||||||
| Premium payment frequency | Annual, Semi-annual, Quarterly, Monthly |
iv. Edelweiss Tokio Wealth Plus Plan
With this plan, not only do you give your family financial security but also ensure your hard-earned money has the chance to accumulate.
Key Features:
- Additional Allocation – Add to your fund an amount starting from 1% of your annual premium for the first five years and 2% every five years.
- The payout for your child – With the rising Start benefit option you can secure your child’s future with a payout to your child in your absence, waiving off the premium while keeping the benefits of the policy intact.
- Investment Strategies – To help grow your wealth the way you want, you can pick from different investment strategies.
- Easy Liquidity – From the 6h policy year onwards you can begin partial withdrawals as per your requirements.
| Age of entry (last birthday) | Minimum age – 1 year last birthday Maximum age – 55 years last birthday |
| Age of maturity (last birthday) | Minimum age – 18 years last birthday Maximum age – 70 years last birthday |
| Policy term | Minimum – 10 years Maximum – 20 years |
| Sum assured | Minimum: 7 x Annualized Premium Maximum: 10 x Annualized Premium |
| Premium payment terms | Regular Pay: The minimum and the maximum is equal to the policy term Limited pay: The minimum is 5 years and the maximum is policy Term minus 1 |
| Premium payment frequency | Annual, Semi-annual, Quarterly, Monthly |
v. Edelweiss Tokio Wealth Gain Plus Plan
Financial protection is what you need in times of uncertainty and this plan helps with just that.
Key Features:
- Nil allocation charges – You don’t have to worry about charges for policy administration or charges for premium allocation. Plus, mortality charges are returned too.
- Dual benefits – You get a combination of wealth accumulation and protection
- Booster additions – The longer you stay, the more benefits you get in the form of loyalty additions and booster additions.
- Investment strategies – Easily grow your wealth by picking from seven different fund options that best suit your needs.
| Age of entry (last birthday) | Minimum age – 0 years last birthday Maximum age: 45 years (for Premium paying term less than 10 years) 50 years (for Premium paying term greater than equal to 10 years) |
| Age of maturity (last birthday) | Minimum age – 18 years last birthday Maximum age – 70 years last birthday |
| Policy term | Minimum – 10 years Maximum – 20 years |
| Sum assured | Minimum: Higher of (10, Policy Term/2) x Annualised Premium Maximum: Higher of (10, Policy Term/2) x Annualised Premium |
| Premium payment terms | Regular Pay: The minimum and the maximum is equal to the policy term Limited pay: The minimum is 5 years and the maximum is the policy term minus 1 |
vi. Edelweiss Tokio Active Income Plan
Ensure your family security at all times, like your untimely death or diagnosis of a critical illness with this plan. Plus, avail regular income.
Key Features:
- Guaranteed Income – Starting from the second year, you can get guaranteed income with the early income option. And with the deferred income option, you can get income until the end of the policy term.
- Family Income Benefit – In the event you are diagnosed with a listed critical illness or face an untimely death, your family is secure with maturity benefits and income benefits. This includes waiving off future premiums too.
- Riders – You can easily enhance your plan by choosing from a variety of suitable riders.
- Loan facility – Need some financial assistance? When you’re in need of urgent cash you can opt for the loan facility with this plan.
| Age of entry (last birthday) | 0 to 65 years (varies based on family income benefit and maturity age) |
| Age of maturity (last birthday) | 75, 85, 99 years |
| Policy term | Maturity age minus Age at Entry of Life Insured subject to minimum and maximum Policy Term as mentioned below: Minimum Policy Term: 25 Years Maximum Policy Term: 99 Years |
| Sum assured | Minimum: Sum assured on death – Rs. 5,00,000 and sum assured on maturity – Rs. 1,70,766 Maximum: No limit, subject to board approved underwriting of the policy |
| Premium payment terms | 5, 8, 10, 12 years |
| Premium payment frequency | Annual, Semi-Annual, Quarterly, Monthly |
| Premium amount | Minimum: Annual: Rs. 50,000 Semi Annual: Rs. 25,600 Quarterly: Rs. 13,000 Monthly: Rs. 4,400 Maximum: No Limit, subject to board approved underwriting policy |
vii. Edelweiss Tokio Income Builder Plan
Why fear the uncertainties of life? With this plan, you can ensure your family has financial security, always. You can build financial reserves as well as receive a regular income at a time of need.
Key Features:
- Dual benefits – You get a combination of wealth accumulation and protection.
- Returns – You can choose the way you receive your returns either as a lump sum with ‘regular income plus lump sum’ or as a regular income with the ‘regular income’ option.
- Secured income – In the event you are diagnosed with a listed critical illness, your loved ones will receive a payout and the future premiums are waived off.
| Age of entry (last birthday) | Base option: Policy term of 6 years – 12 years to 55 years Policy term of 7 years – 11 years to 55 years Policy term of 8 years – 10 years to 55 years Policy term of 10 years – 8 years to 55 years Policy term of 12 years – 6 years to 55 years Secure income option: 18 years to 50 years |
| Age of maturity (last birthday) | Base option: the minimum is 18 years and 67 years Secured income option: the minimum is 24 years and 62 years |
| Policy term | Base option: Single Premium – 6 / 8 / 10 / 12 years Regular Premium – 7 / 10 / 12 years Secured income option: 7 / 10 / 12 years |
| Sum assured | Minimum: Regular Premium: Rs. 3,00,000 Single Premium: Rs. 1,25,000 Maximum: No limit, subject to board approved underwriting of the policy |
| Premium payment terms | Single Premium: 1 year Regular Premium: Equal to Policy Term |
| Premium payment frequency | Annual, Semi-Annual, Quarterly, Monthly |
| Premium amount | Minimum: Regular Premium: Rs. 30,000 Single Premium: Rs. 1,00,000 Maximum: No limit, subject to board approved underwriting of the policy |
| Premium payment option | Base option: Single premium and regular premium Secured income option: Regular premium |
| Premium payment frequency | Annually, Semi-Annually, Quarterly, Monthly |
| Payout frequency | Annually, Semi-Annually, Quarterly, Monthly |
viii. Edelweiss Tokio Wealth Ultima Plan
With this plan, you have some assurity of your future by growing your wealth and securing systematic income.
Key Features:
- The steady growth of wealth – Invest systematically to ensure you are safe from market fluctuations.
- Investment strategies – To help grow your wealth the way you want, you can pick from different investment strategies.
- Withdrawals – From the 10th policy term onwards you can withdraw money on a monthly basis.
- Booster additions – The longer you stay, the more benefits you get in the form of loyalty additions and booster additions.
| Age of entry (last birthday) | Minimum – 0 to 18 years (varies based on benefits) Maximum – 17 to 70 years (varies based on benefits & PPT) |
| Age of maturity (last birthday) | Minimum – 18 years (varies based on option and PPT) Maximum – 100 years (varies based on option and PPT) |
| Policy term | Minimum: 10 years Maximum: 5-6 PPT: 70 minus age at entry (Only Option 1 is available) 7 PPT and above: 100 minus age at entry (Both Option 1 & Option 2 are available) |
ix. Single Pay Endowment Assurance Plan
A comprehensive coverage plan that gives you financial assurity at a time of need.
Key Features:
- Guaranteed amount on maturity – From the start, you will know your maturity amount. This way you can plan for future goals accordingly.
- Single pay – By just paying a single amount you can keep your policy active.
- Enhanced life cover – If you choose this plan you can get comprehensive life cover up to 10 times the single premium amount.
- Loan facility – When you’re in need of urgent cash you can opt for the loan facility with this plan.
| Age of entry (last birthday) |
| ||||||||||||||||||||
| Age of maturity (last birthday) | Minimum: 10 / 15 Years – 18 Years (Both Death Benefit Option A and B) Maximum: 10 / 15 Years – 50 years (Death Benefit Option A) and 80 years (Death Benefit Option B) | ||||||||||||||||||||
| Policy term | 10 years to 15 years | ||||||||||||||||||||
| Premium payment term | Single Pay | ||||||||||||||||||||
| Premium payment frequency | Single | ||||||||||||||||||||
| Premium amount | Minimum: Rs 40,000 Maximum: No limit, subject to board approved underwriting of the policy | ||||||||||||||||||||
| Sum assured | Minimum: Option A: Rs. 4,00,000 Option B: Rs. 50,000 Maximum: No limit, subject to board approved underwriting of the policy |
x. Edelweiss Tokio POS Saral Nivesh Plan
Enjoy the dual benefits of savings and protection so you can lead a stress-free life that doesn’t have any uncertainty.
Key Features:
- Guaranteed returns – From the beginning, you know what kind of returns you get. When you know how much you’re getting, you can plan your future accordingly.
- Discounts on a higher sum assured – You get a 3% to 13% discount depending on the sum assured you opt for.
- Limited pay – You don’t have to spend your whole life paying premiums, with this option you can complete payments quickly.
- Loan facility – At a time of need, you can get a loan and help you fulfill your financial needs.
| Age of entry (last birthday) | The minimum is 1 year and the maximum is 50 years |
| Age of maturity (last birthday) | The minimum is 18 years and the maximum is 65 years |
| Policy term | PPT of 5, 7, 10 years – 10 to 20 years PPR of 12 years – 12 to 20 years |
| Premium payment term | 5, 7, 10, and 12 years |
| Premium payment frequency | Annual or monthly |
| Premium amount | Minimum: Annual – Rs. 5,000 Monthly – Rs. 1,000 Maximum: Annual – Rs. 2,50,000 Monthly – Rs. 22,000 |
| Sum assured | Minimum: Rs. 50,000 Maximum: Rs. 25 lacs |
xi. Edelweiss Tokio Dhan Labh Plan
With this plan, not only do you get into the habit of saving but also accumulate wealth for your future.
Key Features:
- Guaranteed benefits – From the beginning, you know what kind of benefits you get. So, you can plan your future accordingly.
- Booster additions – The longer you stay, the more benefits you get in the form of loyalty additions and booster additions.
- Limited pay – You can complete your premium payment quickly and continue to enjoy the benefits of the plan until the end of the policy.
- Loan facility – When you’re in need of urgent cash you can opt for the loan facility with this plan.
| Age of entry (last birthday) | The minimum is 91 days and the maximum is 45 years | |||||||||||||||
| Age of maturity (last birthday) | The minimum is 18 years and the maximum is 75 years | |||||||||||||||
| Policy term | 15, 20, 25, and 30 Years | |||||||||||||||
| Premium payment term | 7, 10, and 12 years | |||||||||||||||
| Premium payment frequency | Annual or monthly | |||||||||||||||
| Premium amount |
| |||||||||||||||
| Sum assured | Higher of: 10 times of Annualized Premium* OR Sum Assured on Maturity OR 105% of Total Premiums Paid@ up to the date of death OR Any absolute amount^ assured to be paid on death Minimum: Rs 55,000 Maximum: No Limit | |||||||||||||||
| Premium payment frequency | Annual, Semi-annual, Quarterly, Monthly |
xii. Edelweiss Tokio Wealth Premier Plan
This plan allows you to plan for uncertainties as well as meet the multiple goals you have throughout your life.
Key Features:
- Single pay – Make a payment just once and continue to enjoy the benefits of the plan.
- Loyalty addition – Every 6th, 8th, and 10th policy year a loyalty sum assured is added to your plan.
- Joint life option – If you please you can add your spouse to this plan.
- Partial withdrawal – You can make partial withdrawals to take care of your needs.
- Nil allocation charges – You don’t have to worry about charges for policy administration or charges for premium allocation.
| Age of entry (last birthday) | Single life: 8 – 40 years Joint life: 18 – 65 years |
| Age of maturity (last birthday) | Single life: 18 – 50 years Joint life: 28 – 75 years |
| Policy term | 10 years |
| Premium payment term | Single pay |
| Premium amount | Minimum: Rs. 10,00,000 Maximum: No Limit (as per the Board Approved Underwriting Policy) |
| Sum assured | Single life: Minimum – 1.25 x Single Premium and the maximum is 10 x Single Premium Joint life: The minimum and maximum is 10 x Single Premium |
3. Edelweiss Tokio Retirement Plans
Retirement plans help with saving money that you can use during your retirement. With the plans provided by Edelweiss Tokio, you’ll get the benefit of wealth accumulation and have a solid retirement plan in place.
i. Edelweiss Tokio Easy Pension Plan
Make your retirement years easy on you by opting for this plan that gives you regular income to enjoy the retirement life.
Key Features:
- Dual Benefits – You get the dual benefits of protection as well as a retirement solution for a steady income in your later years
- Risk Appetite – Based on your risk appetite, you can choose from two different strategies.
- Benefits – You get loyalty additions and enhancers to make your policy better.
- Payout – You can choose between a regular payout or a lump sum amount.
| Age of entry (last birthday) | Minimum age – 18 years Maximum age – 75 years |
| Age of maturity (last birthday) | Minimum age – 45 years Maximum age – 85 years |
| Policy term | 10 years to 67 years |
| Premium payment term | Single Pay, Limited Pay [5 Pay to (Policy Term-5)], Regular Pay |
| Premium payment frequency | Single Pay, Annual, Semi-annual, Quarterly, Monthly |
| Premium amount | The minimum for single pay is Rs. 45,000 The minimum for Limited/Regular Pay is: Annual: Rs 15,000 Semi-Annual: Rs 8,000 Quarterly: Rs 4,000 Monthly: Rs 1,500 |
ii. Edelweiss Tokio Saral Pension Plan
This plan gives you the guarantee of regular income in your later years. You can focus on enjoying your retirement years without worrying about money.
Key Features:
- Flexibility – You can receive the annuity in different modes like yearly, half-yearly, quarterly, or monthly.
- Loan facility – After a period of six months from commencement, you can avail of a loan.
| Age of entry (last birthday) | Minimum age – 40 years Maximum age – 80 years |
| Age of maturity (last birthday) | Not Applicable |
| Premium payment term | Single Pay |
| Premium amount | There is no explicit minimum purchase price. However, the Purchase Price should be such that the minimum annuity amount is at least Rupees 1,000 per month. Maximum has no limit. It’s subject to Board Approved Underwriting Policy |
| Minimum Annuity Instalment | Rs. 1,000 per month for Monthly Annuity Mode Rs. 3,000 per quarter for Quarterly Annuity Mode Rs. 6,000 per half-year for Half-yearly Annuity Mode Rs. 12,000 per annum for Yearly Annuity Mode. |
| Maximum Annuity Instalment | Maximum has no limit. It’s subject to Board Approved Underwriting Policy |
iii. Edelweiss Tokio Cash Flow Protection Plus Plan
Get protection for the long-term, until the age of 100 with this plan. Plus you get guaranteed regular income as well as bonuses.
Key Features:
- Long-term – With this plan, you can get protection and regular income till the age of 100.
- Additions/bonuses – To enhance returns you can choose from a variety of additions or bonuses like cash bonus, money back, etc.
- Loan facility – When you are in need, you can use this as a means to avail a loan.
| Age of entry (last birthday) | Minimum age – 91 days Maximum age – 55 years |
| Age of maturity (last birthday) | The maximum maturity age is 100 years |
| Policy term | 100 years less age at entry of the life insured |
| Premium payment term | 10, 15, 20, and 25 years |
| Premium payment frequency | Annual, Semi-annual, Monthly |
| Premium amount | Minimum: Rs. 9,835 |
| Sum assured | Minimum: Rs. 2,00,000 Maximum: No limit |
iv. Edelweiss Tokio Forever Pension Plan
Secure your golden years with this plan that gives you protection plus income.
Key Features:
- Customization – Customize your plan to suit your needs. Choose between an immediate annuity and deferred annuity.
- Return of purchase price – With this option, till the time you are diagnosed with a critical illness, accidental total and permanent disability, or death, you get a constant annuity at a fixed rate. Post which, you get a lump sum.
| Age of entry (last birthday) | Minimum: For Immediate Annuity – 40 years For Deferred Annuity – 35 Years Maximum: 85 years |
| Age of maturity (last birthday) | Not Applicable |
| Premium payment term | Single Pay |
| Minimum / Maximum Deferment Period | Minimum: 1 year Maximum: 10 years |
| Minimum Purchase Price | Rs. 200,000 |
| Maximum Purchase Price | No Limit, subject to board approved underwriting policy |
Why Choose Edelweiss Tokio Life Insurance?
Edelweiss Tokio assures quality above all else and offers products that are budget-friendly and cost-conscious so that they can gain maximum reach. The company provides quality service to its customers, not just at the time of sale, but while filing a claim or amending the plans too. Here are some reasons to choose Edelweiss Tokio Life Insurance:
- Flexibility – There shouldn’t be a limit on your dreams and the diverse Edelweiss Tokio plans help make your journey much easier.
- Empathy – Edelweiss Tokio understands the importance of your goals and needs and hence, strives to fulfill them.
- Socially responsible – All deeds and decisions are for the betterment of society.
- Best life insurer – Edelweiss Tokio has won various awards in the past three years; from ‘The Rising Star’ to ‘Best Life Insurer’. They were also honored to be the life insurer of the Indian Olympics Team.
- Distribution network – Edelweiss Tokio wants you to experience a seamless journey and so, they have a wide distribution network of over 4000!
- 5 Star rated funds – Bond Fund and Money Market Fund have been highly rated (5 stars) on morningstar.com
Exclusions Under Edelweiss Tokio Life Insurance Policies
Some of the general exclusions of Edelweiss Tokio’s term, ULIP, and retirement plans are:
- Death by suicide within 12 months from date of policy commencement or renewal
- For 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 the Better Half Benefit premiums paid.
Riders On Offer With Edelweiss Tokio Life Insurance Plans
- Accidental Death Benefit
With Edelweiss Tokio’s accidental death benefit, the nominee receives a minimum amount of sum assured of INR 10,000 upon the insured’s death due to an accident.
- Payor Waiver Benefit
If the insured and plan proposers are two different people, then under this rider, premiums are waived off, if the proposer is diagnosed with a listed critical illness, accidental total and permanent disability, or death.
- Accidental Total and Permanent Disability
With this rider, you are eligible to receive a lump sum of at least INR 1 lakh if an accident leaves you with a total and permanent disability.
- Waiver of Premium
All your future premiums are waived while you reap uncompromised benefits of your plan under this rider if you are diagnosed with a critical illness or a permanent and total disability due to an accident.
- Hospital Cash Benefit
Hospitalization charges can put a serious dent in your finances even if you have health insurance coverage. The deductible amount combined with recovery costs can add up very quickly. With the hospital cash benefit rider, you are eligible to receive INR 1000 to INR 600 for each day you are hospitalized. If you have to be admitted to the ICU, this rider pays out 1% of the total sum assured for each day of ICU admission. As a recuperating benefit, you can also receive a lump sum amount of 4% of your total sum assured.
- Critical Illness
As a policyholder, if you have opted for this rider, then it entitles you to receive a lump sum pay-out if you are diagnosed with any of the 12 included critical illnesses.
Purchase Edelweiss Tokio Life Insurance Online
Buy your plan on Edelweiss Tokio’s website
- Visit Edelweiss Tokio’s site and browse through the different products that they have to offer. Once you have an idea of your requirements and the plan that matches them, select it.
- Choose the term for your policy.
- Select the frequency of your premium payments.
- If you want to select any of the available riders, you can do so.
- Don’t forget to add your nominee.
- The company will first verify your details and the documents that you have submitted. Once cleared, you will receive your policy document.
Purchase your Plan on Probus
- Visit and browse the website through the different life insurance plans available on the site and choose the one that best suits your requirements.
- Once you choose a suitable option, you will be redirected to the company website to finish the remainder of the steps.
- Pay the premium online and quickly receive the policy document in your email inbox.
Renew Your Edelweiss Tokio Life Insurance Plans
Renew your plan from Edelweiss Tokio’s official site
- Use your credential to log in to the customer portal.
- Pick the policy you wish to renew.
- You can customize the plan if needed.
- Receive a copy of your policy document once you have paid the quoted premium.
Renew your Edelweiss Tokio life insurance plan with Probus
- Login to our website and click on ‘renew your policy’ tab on the homepage.
- Select the insurer.
- Enter your policy number and date of birth and click on ‘proceed’
- Follow the given steps.
- Review all the details and make changes if needed
- Make the online payment
- Within no time, you’ll have your policy in your inbox.
File A Claim With Edelweiss Tokio
To file a claim against your Edelweiss Tokio life insurance policy:
- Intimate the company of an impending claim. You can do so by calling them or filling a form on their website.
- Submit the documents required along with a duly filled claims form to process your claim.
- Sit back as the company’s executives process your claim.
Documents Needed To File A Claim
When you file a claim, here is a basic list of documents you may need:
- Original policy document
- Statement of death by the claimant
- A copy of the certificate stating the cause of death
- A copy of the hospital certificate if the insured was hospitalized
- Certificate from the treating doctor
- If a case was filed with the police – FIR/ police report/ panchnama/ inquest report
- Photo ID proof of claimant
- Claimant’s address proof
- A copy of the death certificate
- Medical records of the policyholder while they were hospitalized
- If the policyholder was salaried – employer certificate
- Report of the post-mortem (if conducted)
- If the policyholder was driving a vehicle – a copy of their driver’s license
- Original policy document
- Claimant’s statement of death
- Claimant’s statement for the rider
- Indoor case papers
- Discharge/death summary
- Test reports
- Original policy document
Frequently Asked Questions
To check the status of your Edelweiss Tokio policy, simply visit the company’s portal online and login using your policy number and date of birth.
Edelweiss Tokio lets its policyholder pay premiums online as well as offline.
The online modes of premium payments are:
- Debit card
- Credit card
- Net banking
Offline modes of payment available to customers are:
- ECS facility
- IVRS
- Money order
- Cheque
- Demand draft
- Cash
If you wish to cancel or surrender your policy, you will need to fill in a surrender form and submit it at the nearest Edelweiss Tokio branch. You may also need to pay a cancellation charge. The cancellation will be processed in 10 days’ time and the refund will then be deposited into your bank account on record.
Once you have filed your claim by submitting the form and requisite documents, Edelweiss Tokio will review your claim. Once the claim is processed and deemed to be valid, the claim amount will be transferred to your bank account on record via NEFT.
Edelweiss Tokio lets you set up an auto-debit instruction to ensure your policy renews on time and doesn’t lapse. You can set it up by logging in to the online portal.
Life Insurers
- Aditya Birla Sun Life Insurance
- Aegon Life Insurance
- Aviva Life Insurance
- Bajaj Allianz Life Insurance
- Bharti Axa Life Insurance
- Canara HSBC OBC Life Insurance
- Edelweiss Tokio life Insurance
- Exide Life Insurance
- Future Generali Life Insurance
- HDFC Life Insurance
- ICICI Prudential Life Insurance
- Ageas Federal Life Insurance
- Indiafirst life Insurance
- Kotak Mahindra Life Insurance
- Life Insurance Corporation of India
- Max Life Insurance
- PNBMetlife India Insurance
- Pramerica Life Insurance
- Reliance Nippon Life Insurance
- SBI Life Insurance
- TATA AIA Life Insurance
