Edelweiss Tokio Insurance Plans

Edelweiss Tokio Zindagi Plus Term life Insurance

This is a Non-Linked Non-Participating Term Insurance plan providing a life cover to the primary insured. It can also provide the spouse an additional life cover with the Better-Half benefit option while accounting for growing needs and increases your life cover of the insured with the Top-Up benefit option. That's not all, the Life-Stage benefit allows an increase in life cover at various crucial stages of life. And finally Zindagi+ comes with the Waiver of Premium benefit option that provides the insured security against 35 critical illnesses.

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 Zingdagi Plus Insurance Overview

  • Key Features
  • Benefit Descriptions

Benefit table of Zingdagi Plus Insurance

Minimum Entry Age (last birthday) 18 years (for Life Insured and Spouse)
Maximum Entry Age (last birthday) Plan Option Premium Paying Term Life Insured Spouse
Life Cover with Level Sum Insured Regular Pay 65 years 60 years
Pay till 60 50 years 50 years
Life Cover with Decreasing Sum Insured Regular Pay 55 years 55 years
Pay till 60 50 years 50 years
Minimum Maturity Age (last birthday) Plan Option Premium Paying Term Minimum Maturity Age
Life Cover with Level Sum Insured Regular Pay 28 years
Pay till 60 65 years
Life Cover with Decreasing Sum Insured Regular Pay 65 years
Pay till 60 65 years
Maximum Maturity Age (last birthday) 80 years
Minimum Policy Term Regular Pay: 10 years
Pay till 60: 15 years
Maximum Policy Term 62 years
Premium Payment Term (PPT) Regular Pay: Same as Policy Term
Pay till 60: (60 – Age at entry + 1) Years
Minimum Base Sum Assured If Top-up Benefit, Life Stage Benefit or Better Half benefit is opted: 50 lakhs
All other scenarios: 25 Lakhs
Maximum Base Sum Assured No limit, subject to underwriting
Premium Payment Mode Annual, Semi-Annual, Quarterly, Monthly

Benefit descriptions of Zingdagi Plus Insurance

Death Benefit
  • Under Plan Option - Life Cover with Level Sum Assured If the life insured dies before the maturity date while the policy is in-force, we will pay Sum Assured on Death.The minimum Sum Assured on Death payable under the Policy at any time during the policy term, while the policy is in in-force, shall be highest of:
    • 10 times of Annualised Premium; OR,
    • 105% of all premiums paid till date of death; OR
    • Guaranteed Sum Assured on Maturity
    • Any absolute amount assured to be paid on death.
  • Under Plan Option - Life Cover with Decreasing Sum Assured: If the life insured dies on or before the policy anniversary falling immediately on or after the life insured attains the age of 60 years while the policy is in-force, we will pay Sum Assured on Death.The minimum Sum Assured on Death payable under the Policy at any time during the policy term, while the policy is in in-force, shall be highest of:
    • 10 times of Annualised Premium; OR,
    • 105% of all premiums paid till date of death; OR
    • Guaranteed Sum Assured on Maturity
    • Any absolute amount assured to be paid on death
  • If the policyholder has opted for the Top-up Benefit at the policy inception, Cumulative Top-up Sum Assured will also be paid in addition to Sum Assured on Death.
  • If the policyholder has applied for the Life Stage Benefit during the policy term, Life Stage Sum Assured will also be paid in addition to Sum Assured on Death.
Death Benefit will be payable in Death Benefit Payment mode selected by you and as described below:
  • Lumpsum: Death Benefit will be payable in lumpsum
  • Monthly Income: A specific percentage of Death Benefit will be payable every month for the fixed number of months (36, 60, 120 or 180) starting from next policy monthiversary from the date of death.
    • Level monthly income: The monthly income will remain constant.
    • Increasing monthly income: The monthly benefit will increase annually @ 5.00% per annum (compounded).
Top Up Benefit
Under this additional benefit, at every policy anniversary starting from first policy anniversary, Top-up sum assured will get added to the policy till the policy anniversary falling immediately before the life insured attains the age of 60 years or till the outstanding policy term is less than 5 years or till the policy anniversary at which the cumulative Top-up sum assured becomes equal to the Base Sum Assured, or till the date of death of the Life Insured, whichever is earlier. Top-up Sum Assured is equal to Top-up Rate multiplied by Base Sum Assured. Top-up Rate is 5% or 10%, as selected by you at the policy inception.

Life Stage Benefit
Under this additional benefit, Life Stage sum assured can be added to the Policy while the Policy is In-Force without any medical examination, upon the occurrence of one or more of the following events during the lifetime of the life insured, provided the policy is accepted at standard rates at policy inception and at revival:
  • 1st Marriage after risk commencement date: 50% of Base Sum Assured
  • Birth of 1st child after risk commencement date: 25% of Base Sum Assured
  • Birth of 2nd child after risk commencement date: 25% of Base Sum Assured
  • Home Loan taken by life insured after risk commencement date (only once during the policy term): 50% of Base Sum Assured or loan amount, whichever is lower
Better Half Benefit
Better Half Benefit can be selected only at the policy inception and if the life insured is married, age difference between life assured and spouse is less than or equal to 10 years and provided that the policy is accepted at standard rates at policy issuance. This additional benefit is available only if the Base Sum Assured is greater than or equal to ₹50,00,000. In case of death of the life insured before the maturity date while the policy is in-force and if his/her spouse is alive, following benefits will be applicable in addition to payment of sum assured on death:
  • Life cover will commence on the life of the spouse and will continue for the remaining policy term. On death of the spouse before the maturity date, we will pay Better Half Benefit sum assured which is 50% of the Base Sum Assured or Rs. 1 crore whichever is lower. This benefit will be paid as per the Death Benefit Payment mode selected
  • No more future premiums will be required to be paid.
Waiver of Premium Benefit
Under this additional benefit, on survival of 30 days post the first diagnosis of the life insured suffering from any one of the Insured Critical Illness conditions (as mentioned below) during the policy term and while the policy is in-force, all future premiums will be waived and the benefits of the policy shall continue. This additional benefit can be selected only at the policy inception. The Critical Illnesses covered include:
  • Cancer of specified severity Cancer
  • Myocardial Infarction (First Heart Attack – of Specified Severity)
  • Open Heart Replacement or Repair of Heart Valves
  • Surgery to Aorta
  • Cardiomyopathy
  • Primary Pulmonary (idiopathic) Hypertension
  • Open Chest CABG
  • Blindness
  • End Stage Lung Failure
  • End Stage Liver Failure
  • Kidney Failure Requiring Regular Dialysis
  • Major Organ/ Bone Marrow Transplant
  • Apallic Syndrome
  • Benign Brain Tumor
  • Coma of specified Severity
  • Major Head Trauma
  • Permanent Paralysis of Limbs
  • Stroke resulting in permanent symptoms
  • Alzheimer’s Disease
  • Motor Neuron Disease with Permanent Symptoms
  • Multiple Sclerosis with Persisting Symptoms
  • Muscular Dystrophy
  • Parkinson’s Disease
  • Loss of Independent Existence
  • Loss of Limbs
  • Deafness
  • Loss of Speech
  • Systemic lupus Erythematosus with Renal Involvement
  • Third Degree Burns
  • Aplastic Anaemia
  • Bacterial Meningitis
  • Creutzfeldt-Jacob Disease
  • Encephalitis
  • Rheumatoid arthritis
  • Poliomyelitis
Add-On / Rider Benefit
A rider is an add-on provision to the base plan. Riders can help in making the plan more comprehensive by paying a nominal 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.Following riders are available with this plan:
  • 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 you with a lump sum to cater to your immediate expenses in case your income earning capacity is hindered due to an accidental disability (total & permanent).
  • Hospital Cash Benefit Rider: This rider provides for daily allowance as well as post hospitalization benefits, in case of hospitalization of the life insured.
  • Critical Illness Rider: This rider provides for a lumpsum amount on diagnosis of one of the listed critical illnesses

Brochure

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Policy wordings

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