Edelweiss Tokio Insurance Plans

Edelweiss Tokio Life Insurance

Edelweiss Tokio Life Insurance Co Ltd, which was established in 2011, is a joint venture between Edelweiss Financial Services, one of India's leading and diversified financial services organization with 248 offices and Tokio Marine, one of the oldest (130 years) and biggest insurance companies having its presence in 469 cities across 37 countries. Currently Edelweiss Tokio is one of the faster growing Life Insurance company operates across 121 cities in India and boasts of a Claim Settlement Ratio of 95.24% in 2017-18. Customer centricity is one of their core values since they understand the customer’s NEED before offering an insurance solution to them which also encourages them to be transparent and fair so that the nominee experience a hassle-free settlement of their claim.

Edelweiss Tokio Life Insurance had a claims settlement ratio of 98.41% in 2018-19, they also covered 2.66 lac lives during the year 2019-20 and had a 13th Month Persistency ratio of 75.21%, as per the data provided by IRDAI as well as the Public Disclosures available on the company’s website.
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Edelweiss Tokio Life insurance review

Edelweiss Tokio Insurance Plans
Distribution - Number of branches pan India (March 2019)
123
Entry Age Minimum/Maximum (Years) - Term Plans
18/65
Sum Assured Minimum / Maximum - Term Plans
25 lacs / Unlimited
Policy Term Minimum / Maximum (Years) - Terms Plans
10/62
Solvency Ratio (FY 2018-19) *
2.29
Number of Policies Sold (Ind+Group) *
79,913
Number of Lives Covered (Ind+Group) **
266,160
Claims Settlement Ratio (Ind+Group) ***
98.41%
* - As per IRDAI data 2018-19 - The solvency ratio of an insurance company is the size of its capital relative to all the risk it has taken, which is all liabilities subtracted from total assets. In other words, solvency is a measurement of how much the company has in assets versus how much it owes
** - as per L-25 Public Disclosure of Insurance Companies for 2019-20  |  *** - Claims Settlement Ratio = Claims Settled in the year / Claims Reported in the year - as per IRDAI data published

Edelweiss Tokio Life Plan Insurance Benefits

  • Awards & Recognitions
  • Why Edelweiss Tokio Insurance?
  • Key Features
  • Claims Process

Awards & Recognitions

Some of the awards that have come the company’s way in the past few years have included:
  • Wealth Secure+ has been ranked as the No. 1 ULIP for 2020 by CRISIL.
  • The company won ‘Best Social Buzz Campaign’ at The Activation Venues Forum for the product Zindagi Plus
  • Zindagi Plus, has already won the ‘Innovative Product of the Year’ award at the Golden Star Awards 2018
  • Won the ‘Best Product Innovation’ at National Awards for Marketing Excellence for the product Wealth Plus in Life Insurance.
  • Product Innovation for Wealth Plus at Golden Globe Tigers Awards 2018
  • Won the Golden Peacock Awards 2018 for the 'Innovative Product/Service' for the product Edelweiss Tokio Life Wealth Plus in Life Insurance.
  • Won the Fintelekt Insurance Awards 2017 for the 'Best Product Innovation' for the product Wealth Ultima in Life Insurance.
  • Bagged the BAM CSR Award for the ‘Yamraj’ activity, the BAM Digital Marketing Campaign Award for the campaign #KeepThePromise and the BAM award for 26pe26 Society Activation.
  • Won the ACEF awards for our successful campaign ‘Yamraj’ and for our BTL Activation - 26pe26 Society.
  • AGENCY EFFICIENCY AWARD, 2016 - Consistently following our core values of Quality and Customer Centricity has made us the winner of the Agency Efficiency Award in FY 2015-16 at India Insurance Awards.
  • Agency Efficiency Award, 2016 - one of the youngest companies in the Indian Life Insurance space, has been conferred the Winner - Best Life Insurer 2016.

Why Should you Choose Edelweiss Tokio Life Insurance?

Some of the key reasons as a customer to opt for Edelweiss Tokio Life are as follows:
  • Hassle-free claim settlement process : While settling the claim, only three steps are followed viz. initiate the claim, submit all the necessary documents, and at last, the company settles the claim amount.
  • Proven excellence : Edelweiss Tokio has earned 2018 best product innovation awards from National Awards for Marketing Excellence, as well as, Golden Globe Tigers Awards. Also, the company has been awarded the Golden Peacock Award 2018 for innovative products / services
  • Qualified Advisors : Right solution is needed for every query. Expertise from Edelweiss Tokio helps you choose the best suitable life insurance policy for you, and assist you throughout the journey. These include online distributors like eindiainsurance
  • Widespread Network of Branches : We have 121 branches across 91 cities, and growing rapidly to expand the presence beyond the boundaries.
  • Innovative Products : We won ‘Best Product Innovation’ at ET Now – BFSI Awards 2018, Fintelekt Insurance Awards 2017 and National Awards for Excellence in Insurance 2017, & ‘Best Life Insurer’ at Outlook Money Awards 2016.

Key Features of Some Edelweiss Tokio Life Insurance Plans

  • Active Income Plan comes with Protection throughout Lifetime : One can choose from 3 different plan options based on different life events - Individual Option / Joint Life Option / Child Option
  • Low Premium to start investing : Option to start your savings at just Rs.1,000 per month
  • Retirement Planning : Option of systematic withdrawal plan that can become a steady income, post retirement.
  • Fund Additions : Get rewarded by staying invested for long term with loyalty, booster and maturity additions
  • 5 Pay 5 Stay Option : This plan offers the option to invest for five years and end the policy term in five years. This makes it a good tool for short-term investments.
  • 7 Fund Offerings : Option to choose from a bouquet of 7 funds with unlimited switches if opted for Self-Managed Strategy.
  • Simply Protect comes with 4 Life Cover Variants :
    • Life Cover – Simply get the life cover that you choose, nothing more, nothing less
    • Life Cover with Accidental Death Benefit – Get an additional payout over and above your sum assured on an accidental death
    • Life Cover with Wavier of Premium on Disability – Have all your premiums waived off while keeping your policy active when diagnosed with a total and permanent disability
    • Life Cover with Waiver of Premium on Critical Illness – Have all your premiums waived off while keeping your policy active when diagnosed with any 1 of the 12 listed critical illnesses
  • Flexible Premium Paying Term : Choose the duration of your premium payments - regular pay, limited pay or single pay.
  • Wealth Ultima come with
    • Systematic Monthly Plan: Safeguards yourself from erratic market movements
    • Systematic Transfer Plan : Transfer money from one asset class to another
    • Systematic Withdrawal Plan : Works as a second income
  • Discounts for Higher Covers : Get attractive premiums when you opt for higher life covers
  • Long Life Cover : Option to choose a life cover up to 80 years of age.
  • Pay-out Options : Option to choose if you want the pay-out to the nominee, in a lumpsum or as a monthly income.
  • Tax Benefits : Get tax exemptions on your premiums and maturity amount

Claims Process

To register a claim, please follow one of the following: Call us at: Toll Free 1800 212 1212
: Claims Mobile Number 88796 88110
Email us at: claims@edelweisstokio.in
Register claim online: https://www.edelweisstokio.in/claim/intimationn
Write to us at: Edelweiss Tokio Life Insurance Co. Ltd. (Claims Team)
6th Floor, Tower 3, B wing
Kohinoor City, Kirol Road,
Kurla (w), Mumbai – 400070. Visit us at: Nearest Branch (When Operational)

How can I get the status of my Submitted claim?

Call us at: Toll Free 1800 212 1212
,or: Claims Mobile Number 88796 88110
Email us at: claims@edelweisstokio.in

Document to be submitted at the time of a Claim

  Death Claim Critical Illness /Hospital Cash Claim Disability Claim
Original policy document
Claimant photo identity & address proof
Claimant statement death  
Copy of death certificate  
Copy of cause of death certificate    
Medical records on the life assured being hospitalized (indoor case papers, discharge/death summary, test reports etc)  
Hospital certificate if the life assured was hospitalized
Employer certificate for salaried policyholder
Treating doctor certificate
Post mortem report (if conducted)
FIR/ Police report/ Panchnama / Inquest report ((if case filed with police)  
Copy of driving license if life assured was driving the vehicle (applicable if "accidental death benefit or accidental and total permanent disability rider" is opted)  

Other Life Insurance insurance products from Edelweiss Tokio

Edelweiss Tokio term life Insurance - Compare and buy Edelweiss Tokio term insurance plans online.
delweiss Tokio Investment Insurance - Compare and buy Edelweiss Tokio Investment Plans online.
Edelweiss Tokio Endowment Insurance - Compare and buy Edelweiss Tokio Endowment Plans online.
Edelweiss Tokio Pension Insurance - Compare and buy Edelweiss Tokio Pension Insurance Plans online.
This is a plan from Edelweiss Tokio Life where all the benefits are guaranteed upfront.
Edelweiss Tokio Unit linked Insurance - Compare and buy Edelweiss Tokio Unit linked Insurance Plans online.
A Guaranteed Whole Life Insurance Plan plan that first gives the insured regular, increasing and tax free income for 20 years & then pays you a lump sum amount twice in the policy.
Edelweiss Tokio Health Insurance - Compare and buy Edelweiss Tokio Health Plans online.
EduSave is a unique Children’s plan from Edelweiss Tokio Life catering to the need of an insured’s child’s education and marriage planning.
Edelweiss Tokio offers comprehensive and enhanced products across all categories including Term Life, Investment, Retirement, Health & Micro Insurance. Some of their best selling products are presented below :
Term life plans
Guaranteed Plan
Unit Linked Plan (ULIP)
Critical Illness Plan

Summary of all plans of Edelweiss Tokio Life:

Entry Age Maturity Age Policy Term Sum Insured ₹ Premium payment term
My life+ 18 years to 60 years 80 years 10 /15 / 20 /25 / 30 / 35 / 40 years / 80 years minus entry age ₹25 lakhs - No Upper limit Regular
Zindagi + 18 years to 65 years 80 years 10 / 15 / 62 years ₹25 lakhs - No Upper limit Same as Policy Term
Simply Protect 18 years to 65 years 80 years 10 - 40 / 62 years ₹25 lakhs - No Upper limit Single Pay/ Limited pay of 5,10,15,20 and Regular pay
Total Secure + 18 years to 65 years 75 / 80 years Tenure Options are 10 / 40/ 62 years minus Entry Age ₹25 lakhs - No Upper limit Single Pay / Limited Pay (5, 10, 15, 20, 25) / Regular Pay
Income Replacement 18 years to 60 years 28 – 70 years 10 to 30 years ₹1.80 lakhs and above Single Pay/ Limited pay of 5,10,15 and Regular pay
Protection 18 years to 60 years 28 – 70 years 10 to 30 years ₹15 lakhs - No Upper limit Single Pay/ Limited pay of 5,10,15 and Regular pay
GCAP 91 days – 55 years 18 to 70 years 10 / 15 / 20 / 25 / 30 ₹1.65 lakhs and above 5 / 7 / 10 / 12 years
Wealth Ultima 1 day – 60 years 18 to 100 years 10 year to 100 minus entry age Refer Table 5 years onwards
Criti Care 18 years to 65 years 70 years 5 years to 30 years ₹5 lakhs to ₹100 lakhs Regular

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Get answers to all your questions?

Life Insurance is a financial cover for a contingency linked with human life which include death, disability, accident, retirement etc against all possible risks and this results in loss of income to the household, if the insured was an income earning member of the family.Though human life cannot be valued, a monetary sum could be determined based on the loss of income in future years. Hencethe Sum Assured payable as a benefit in case of any eventuality. Life Insurance products provide a definite amount of money in case the life insured dies during the term of the policy or becomes disabled on account of an accident.

Everyone wants to insure the following risks:
  • Dying too soon
  • Living too long
Life Insurance is perhaps one of the most critical investments that any individual can make to financially protect themselves and their families from any uncertain and unpredictable even in the future. It is needed:
  • To ensure that one’s immediate family has financial support in the event of the insured’s unfortunate and untimely demise
  • To finance future expenses that include children’s education, marriage expenses, investments in fixed assets
  • To ensure a recurring and consistent source of income post retirement
  • To provide for unplanned financial contingencies and to ensure life style upkeep

IRDAI stands for Insurance Regulatory and Development Authority of India and they are the apex body that regulates the Insurance industry in India, both for Life and Non Life Insurance and are based in Hyderabad. They are similar to the Reserve Bank of India (RBI) who is the Banking regulator. Apart from protecting the interests of the policyholders, it regulates the overall industry and takes concrete steps towards development of the insurance sector in India.

According to IRDAI guidelines, the insurance company must mandatorily process a claim within 30 days after receiving all claim related information/documentation. If the claim needs further investigation based on the circumstances and supporting documents provides, the process should be completed within 6 months.

Anyone who is an income generator for a family, whether they are the primary earner or no, needs to ensure they have Life Insurance cover. Due to the value of their contribution to the family, it becomes essential to protect the family incase any unforeseen event happens to the income generator and this is what Life Insurance does. Sometimes even homemakers and children can also be covered for life insurance given their future income potential being at risk.

Currently in India, Life insurance is one of the most preferred tax planning financial instruments. Premiums paid for all life insurance policies are exempt from tax up to a maximum of ₹ 1.5 lacs under Section 80C of the Income Tax Act, 1961. Further under Section 10D, on settlement of a claim, the claim amount paid to the nominee is exempted from any tax.

The straightforward answer is the younger the individual, the lesser the premium. Hence it is advisable for young adults to invest in Life protection through Term Life covers at an early stage to ensure the most competitive premiums for their policy. This is on account of the individual being in better health at a younger age and free from pre existing health conditions.

The amount of Life Insurance coverage can also be terms as the Sum Insured of the Life insurance policy, which is basically what the nominee will get incase of the unfortunate demise of the insured . While there is no scientific approach to arrive at this Sum Assured, some of the factors that need to be considered while fixing this include:
  • Age + Number of dependants of the Life Assured
  • Financial Commitments in terms of Loans, Future Expenses etc based on the lifestyle of the individual and family
  • Specific Financial Goals like Children’s Education / Marriage etc
  • Current Income & Future Potential Income levels of the life assured

Yes, all life insurance plans cover death due to natural disaster, like flood, earthquake, storm, etc.

Yes, all life insurance policies offer coverage for Death by all means, except suicide. This includes unfortunate demise of the life assured due to terrorist attack/war/natural calamities/epidemics/pandemics etc (unless specifically excluded by insurance company).

Yes, Non-Resident Indians (NRIs), People of Indian Origin (PIOs) can buy a life insurance plan in India. Foreign Exchange Management Act (FEMA) allows NRIs to buy any plan that meets their requirements of protecting themselves and their family whether he is currently residing in India or not.

Generally most documents required are KYC documents that include:
  • Income proof (Salary slip, Form 16, ITR)
  • Age proof (Aadhar Card, Voter’s ID card, Passport)
  • Address proof (Aadhar Card, Utility bills, Driving License)
  • Photo identity proof (Passport, Voter’s ID card, PAN card)
  • Recent passport size photographs
If required, the insurance companies might call for additional supporting documents to the one specified above.

As uncertainties are on the rise during the Coronavirus pandemic, the need for adequate life insurance which ensures a family's financial safety has become more pressing. Life insurance plans are designed to alleviate financial distress caused to the family after the sudden loss of the bread earner. Edelweiss Tokio Life’s Term plans comes with four life cover variants to choose from: Basic life cover, Life cover with inbuilt Accidental Death Benefit, Life cover with inbuilt Waiver of Future Premiums on accidental total and permanent disability, and Life cover with inbuilt Waiver of Future Premiums on critical illness. These inbuilt benefit options make this plan all-inclusive. The plan offers a discount for a large sum assured. This discount is calculated based on the sum assured, policy term and premium paying term.

The minimum entry age to purchase term insurance is 18 years, while the maximum entry age while purchasing can be up to 60 years. Term Insurance Plans provide longer protection for you and your family. One can choose a life cover up to the age of 80.

Your family will receive the claim amount in the event of both natural and accidental death. Life insurance is designed to provide your family with a certain amount of money, irrespective of the reason of death. However, there are some exclusions like suicide in 1-year, non-disclosure of rightful facts that can lead to a decline of your claim amount. To know more about such exclusions, please refer to the terms & conditions section in the policy document.

It is usually suggested that a life insurance cover should be at least 10 times of your annual income and 15 to 20 times is an even better option. If you have loans such as home loans, car loans, etc. then you should factor that in too.

For instance, if your annual income is ₹ 10 Lakhs, it is ideal to buy term life insurance cover of at least ₹1.0 crore, if you do not have other liabilities. In case you have a home loan of ₹50 lakhs, include this amount in your life cover. It is best to use the term calculator provided by insurance companies before deciding on your life cover.

Online transactions are completely secure and are done directly on the insurance company’s or it’s official distributors’s website. Today almost all financial transactions including banking, stocks, etc have moved completely online and lacs of people are making online payments every day. You can evaluate Edelweiss Tokio’s plans on eindiainsurance.

They serve different purposes and cater to different needs. Term insurance is a pure risk cover and a product which is an absolute must for every individual who has any financial dependent relying on their income. An endowment plan is for savings purpose, it has a nominal death benefit and provides maturity benefit as well.

Buying term insurance for a couple is a good option indeed. If you wish to safeguard your spouse as well as your family financially in your absence, you should consider term life insurance. Term life insurance for married couples is a great option that works as a security cover for the unforeseen future.
  • Better half benefit - You get life coverage with additional life coverage for your spouse. In short, the partner is covered under the same plan with a marginal increase in premium.
  • You can also increase the life coverage every year with a Top Up Benefit.
  • Term plans for couples are amongst the most affordable life insurance policies in India. You get a high life coverage amount for a low annual premium. In the unfortunate event of death of the policyholder, the surviving spouse(nominee) gets the sum assured benefit. The spouse (nominee) can use this money for any future liability.
Yes, mostly all the life insurance companies in India offer term plan for NRIs for people who reside outside the country. If you are a non-resident Indian, the term plan for NRI will help you secure your loved ones’ financial future. You can get the best term insurance for NRIs; it has all the specifications as same as the regular term policy. Features are mentioned below.
  • Eligibility up to 65 years
  • Minimum sum assured of Rs.25 Lakhs. This may differ based on your smoking/drinking habits and other parameters.
  • The term insurance plan for NRI by Edelweiss Tokio Life Insurance has a maximum sum assured cap of Rs 15 crore for Zindagi Plus.
  • Policy tenure can be a maximum of 80 years
You can have all of this by paying considerably low premiums as compared to other life insurance products.
Yes, smokers are eligible for term insurance subject to prescribed medical tests. Get Insurers typically charge a higher premium for term insurance for smokers. Most life insurance companies charge a higher premium amount for smokers. It is essential that you do not hide your smoking habit from your insurer. If you are found to be lying about it:
  • Your insurance cover will be null and void, and insurance claims will not be honoured.
  • You may be charged with fraud.
As the life expectancy rises, there are circumstances under which even a senior citizen may need a life insurance. Remember that a term insurance is meant to take care of your liabilities and secure the future of people who may be dependent upon you. In most cases, all the liabilities would have been fulfilled by the time you reach the age of sixty. But here are a few circumstances when a term insurance plan for senior citizens is a must:
  • Dependant kids : Couples nowadays have kids much later in their lives. This means, it is possible that kids may not be financially independent at the time of your retirement. If this is the case, it is imperative that you get a term insurance plan till they are able to take care of their finances.
  • Your spouse depends on your pension : It is possible that your spouse is dependent on your pension for their financial needs. You would want her to be financially independent even if something happens to you. One of the ways of ensuring this is through a term insurance plan.
  • You continue to work post-retirement : If you continue to work post-retirement, you e responsible for the work that you take on. This is especially true if you are an active co-founder of a business. In such a scenario, get a term insurance is a way to ensure that the business does not suffer in case of your sudden demise.
  • Unpaid debts : If, for any reason, you still have unpaid debts - you should get a term insurance for the outstanding amount to ensure that the burden of repayment does not fall on your family.
A few years back, it might have been a challenge to get a term insurance for senior citizens. However, today you can get term insurance, subject to clearing medical tests & validation of source of income. Remember that a term plan at this age would attract a high premium, but it is still better than not having a cover when your dependents need the protection.

An insurer would be willing to provide you with a life cover based on your health condition, even if you suffer from heart related or diabetic related ailments. Remember that an insurer decides on the premium to be charged based on your health condition, age at the time of entry, tenure of the coverage requested and your medical history. In case you are a heart/diabetic patient, you would be considered at a high risk and therefore attract a high premium. Some of the factors that an insurer would consider are your age, family history related to heart ailments, obesity, use of tobacco, diabetes, blood pressure, nutrition being taken and exercising habits.

The underwriters would consider your health condition, and the risk associated with heart/diabetes disease when deciding upon the cover to be provided. Typically, the premium would be higher side for a patient with the disease than for someone without a the same- all things being equal. Though, remember that both the severity of your condition and steps you have taken to manage your health will be the deciding factor.

Every insurance company has a centralized customer service team which attends to all the customer query/complaints. The IRDAI regulations are the same for both online and offline customers and hence there is no differentiation between customers who have purchased online or offline.

There is no specific age to buy a life insurance policy as there is nothing precious than life. However, it is more important to secure your loved ones' financial future if they were to live without you. The early you buy the life insurance policy, the more corpuses you can accrue. Usually, term insurance is the best if you are looking for life insurance for youngsters, as it comes at affordable premiums and offers considerably high sum assured. Life insurance for parents can also be chosen as soon as possible, as old age premiums are higher. If you are the sole breadwinner in the family, life insurance for working professionals is necessary to have. This not only secures your spouse’s financial future but also of your child and parents.

It is also advised to have more than one policy, especially if you have any liabilities to pay off. Buying term insurance as pure life insurance and any other cash-value policy will surely help you achieve your future financial goals along with adequate coverage.

The process of claim settlement consists of three necessary steps.
  • On the demise of the life insured, in this case, to be specific- you; the family needs to inform us or the insurance company from which the life insurance policy had been purchased.
  • The proofs of the demise need to be provided to the insurer in terms of the death certificate or any equivalent document if required.
  • The insurance company then analyses the proofs submitted by the family, checks whether the claim made fulfills the policy terms and then insurance claim settlement happens by paying sum assured plus bonuses, along with return on investments.
Life insurance claim settlement is increasing nowadays, as awareness is being created to disclose all the facts related to health and habits.

There are usually a few cases that are not covered under the base life policy. Here, life insurance riders help you get additional coverage against certain events. What are the riders? It is nothing but a provision that helps people meeting specific or additional insurance needs at some extra premium. Usually, critical illnesses, permanent or partial disability etc. are not covered under the base plan. In such cases, riders help you get total coverage including a list of critical illnesses and partial disability occurring due to multiple accidents. The accidental death benefit or waiver of the premium rider also helps a lot in case of the unfortunate demise of the insured person or if he/she meets any severe accident, resulting in disability. In such cases, regular income needs to be processed to sustain the lifestyle of the insured’s family.

You will receive the proceeds to your Bank account from the insurance company post approval of the claim, based on the submitted documents.

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