Edelweiss Tokio Insurance Plans

Edelweiss Tokio Life Pos Saral Nivesh Insurance

Edelweiss Tokio Life Insurance, the joint venture between the Edelweiss Group and Tokio Marine Holdings of Japan, has launched an over-the-counter life insurance product in India called 'Edelweiss Tokio Life – POS Saral Nivesh’. POS Saral Nivesh is a non-linked, non-participating endowment life insurance plan with dual benefits of protection and savings.
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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

Wealth Ultima Life Insurance overview

Benefit Summary

Features of Wealth Ultima Life Insurance

Below is a brief summary of the key features of the plan:
  • Simple to understand with all the guaranteed benefits
  • Simple to buy - Complete a short proposal form and get insured
  • Flexibility in premium paying terms
  • Liquidity for unforeseen emergencies
  • Option to avail a loan
  • Income Tax benefits as per prevailing Income Tax Laws
Eligibility

Eligibility criteria of Wealth Ultima Life Insurance

This plan has 2 options:
  • Option 1: Policies wherein Age of the Life Insured at Entry Age is 1 years to 50 Years
  • Option 2: Policies wherein Age of the Life Insured at Maturity is 18 years to 65 years

Minimum & Maximum Policy Term

  Minimum Maximum
Entry Age(Last Birthday) 1 Year 50 Years
Maturity Age(Last Birthday) 18 Years 65 Years
Premium Annual - Rs. 5,000
Monthly - Rs. 1,000
Annual - Rs. 1,00,000
Monthly - Rs. 8,800
Sum Assured on Maturity Rs. 50,000 Rs. 10 Lacs
Policy Term 10-20 Years 
12-20 Years
Premium Paying Term 5,7,10 Years
12 Years


Benefit Description

Benefits in Edelweiss Tokio Life POS Saral Nivesh plan:


a) Guaranteed Maturity Benefit

At the end of your policy term, you will receive the Guaranteed Maturity Benefit provided all due premiums have been paid in full and the policy is in-force. Your Guaranteed Maturity Benefit is equal to the Sum Assured on Maturity.

b) Guaranteed Death Benefit

In case of unfortunate demise of Life Insured while the policy is in-force, the Nominee will receive the Guaranteed Death Benefit.

The Guaranteed Death Benefit is equal to the Sum Assured on Death which is -
Higher of –
  • 10 x Annualised Premium ; or
  • Sum Assured on Maturity; or
  • 105% of total premiums paid (excluding underwriting extras, service tax and cess, if any) till date of death; or
  • Any absolute amount assured to be paid on death which is higher of Sum Assured on Maturity or 10 x Annual Premium
The policy has a 90 day waiting period from the Date of Inception of the Policy within which, if death occurs (other than due to accident), the nominee will receive 100% of the premiums paid till the date of death excluding service tax and cess. During this period the Guaranteed Death Benefit will not be payable.

Brochure

Review Edelweiss Tokio Life Pos Saral Nivesh Insurance brochure to understand coverage details.

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Policy wordings

Review Edelweiss Tokio Life Pos Saral Nivesh Insurance policy wordings which explains the terms and conditions.

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