Edelweiss Tokio Insurance Plans

Safe n Sure Plan Insurance

Safe n Sure Plan - Endowment Plan is an endowment plan for wealth accumulation that ensures growth of an individual's money resulting in a substantial lump sum on maturity. An endowment assurance plan to cater to the need of wealth accumulation. With money back facility, this is an investment for people who wish to remain invested with a reasonable degree of liquidity.
Request a Call Back
Name is required
Email is required
Contact is required
Thank you for contacting us

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

Safe n Sure Plan Insurance Overview

  • Key Features
  • Eligibility
  • Benefit Description

Key Benefits of Safe n Sure Plan Insurance

Some of the key features under this plan include:
  • Stay protected as well as receive guaranteed amount on maturity
  • Pay premium for 15 years only
  • Simplified product structure for easy understanding
  • Choice of various policy terms are made available to suit the insured's need
  • Loan facility is available to meet unforeseen needs
  • Enhance overall benefits and coverage by adding various riders
  • Attractive discounts for higher Sum Assured
  • Tax Benefits : Avail tax benefits under Section 80C and Section 10 (10D) of Income Tax Act, 1961

Eligibility Criteria of Safe n Sure Plan Insurance

Entry Age of Life Insured (last birthday) 5 to 55 years
Maximum Maturity Age (last birthday) 80 years
Policy Term 15/ 20/ 25 years
Premium Paying Term (PPT) 15 years
Premium Payment Frequency Annual, Semi-annual, Quarterly and Monthly
Minimum Premium Annual: Rs 7,326, Semi-annual: Rs 4,000, Quarterly: 2,500, Monthly: Rs 1,000
Minimum Sum Assured (SA) Rs 200,000
Maximum Sum Assured No Limit, subject to underwriting
Discounts available
  • 3% Premium Discount applies on Annual Mode
  • Discount is made available to higher Sum Assured as per the table given below
Policy Term
15 20 25
Rs. 250* Rs. 325* Rs. 400*
*- Per Rs. 50,000 sum assured exceeding Rs. 2,00,000
  • Discount applicable for female lives : For female lives following premium rate will be applicable:
  • Up to Age 8 : Same as Male Rate of age 5
  • Age 9 & above : Same rate as 3 year younger Male

Benefit Descriptions of Safe n Sure Plan Insurance

Death Benefit Sum Assured payable when death of life assured has been confirmed
Maturity Benefit Sum Assured payable at the end of the Policy Term
Paid Up Value If premium is not paid even after the grace period after first two policy years’ full premium payment then the policy may continue as a ‘Paid-up’ policy for a reduced Sum Assured (Paid-up Sum Assured).

Paid-up Sum Assured will be calculated as given below:
Paid-up Sum Assured = Sum Assured * (Number of premiums paid/ Number of premiums payable).

Under reduced paid-up, Paid-up Sum Assured will be payable either on death or maturity whichever is earlier.
Surrender Value The Policy can be surrendered provided that at least premium for two policy years has been paid by the policyholder.

On surrender anytime, surrender value, if any, will be immediately paid and policy will be terminated.

The surrender value payable is higher of the Guaranteed Surrender Value (GSV) and Special Surrender Value (SSV).
Policy Loan The Policy can be surrendered provided that at least premium for two policy years has been received in full by the Company. On Surrender the surrender value, if any, will be immediately paid and policy will be terminated.

The surrender value payable is higher of the Guaranteed Surrender Value (GSV) and Special Surrender Value (SSV).
Policy Loan Policy loan is available once it acquires surrender value. Maximum loan amount available is 90% of surrender value offered by the Company. Interest will be charged on the outstanding loan amount at a rate declared by the Company from time to time based on then prevailing market conditions and will be equal to “SBI Base rate (minimum rate at which SBI lends) + 1.75%”. Charged interest rate will be applicable for new loans only.

For reduced paidup policies if at any point of time outstanding loan amount and accumulated interest equals or exceeds surrender value, then the policy shall be terminated without value.

On death of the life assured, maturity or surrender of the policy the outstanding loan amount and accumulated interest will be recovered from the benefit payable and rest of the benefit amount will be paid.
Enhanced Protection through Riders A rider is an add-on provision to the base plan. Riders can help in making the plan more comprehensive by paying an additional premium. Riders can be added at the inception of the policy or at policy anniversary during the Policy Term subject to underwriting and terms and conditions of the riders and the product.

Following riders are available with this plan:
  • Payor Waiver Benefit Rider : This rider waives future premiums in case of death, Critical Illness or total and permanent disability due to accident of the proposer (payor) so that the Life Insured continues to get the benefits.
  • Accidental Death Benefit Rider : This rider provides for additional financial security in case any death occurs due to accident. Also, the benefit is payable in lumpsum.
  • Accidental Total and Permanent Disability Rider : This rider provides the insured with a lump sum to cater to any immediate expenses in case the insured’s income earning capacity is hindered due to an accidental disability (total & permanent).
  • Term Rider : This rider provides the insured with a lumpsum amount in addition to the base plan cover to provide increased security to the dependent family.
  • Waiver of Premium Rider : This rider waives of future premiums in case the insured suffers from Critical Illness or total and permanent disability due to accident.
  • Critical Illness Rider : This rider provides the insured with a lumpsum to cater to any immediate expenses in case the insured’s income earning capacity is hindered in the event of critical illness.
Free Look / Grace Period 15 / 30 days

Brochure

Review Edelweiss Tokio Safe n Sure Plan Plan brochure to understand coverage details.

Know more »

Policy wordings

Review Edelweiss Tokio Safe n Sure Plan Plan Premium policy wordings which explains the terms and conditions.

Know more »

Search for Edelweiss Tokio Endowment insurance

-

ONLINE CHAT

CIN: U66000KA2018PTC117713 | IRDAI Web aggregator License Code Number: IRDAI / INT / WBA /53/ 2018, Valid till 07/08/2022