• Edelweiss Tokio Life Raksha Kavach Micro Insurance Plan

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    Plan Benefits

    Payment Options

    Policy Coverage

    Customer Service

    Responsiveness

    This is a term insurance plan designed for low income groups, in order to provide financial assistance to the dependents of the policyholder (who is usually the sole earner) in case of his/her demise. This is a non-participating, non-linked micro term insurance plan. Low premiums make this Edelweiss Tokio term plan affordable, and the option to choose between single pay or regular pay enables customers to manage their finances more effectively.

    Key Features of Edelweiss Tokio Life Raksha Kavach Micro Insurance Plan

    • 5-year policy term.
    • Flexibility to choose between a premium paying term option of single pay or regular pay.
    • Premium paying frequency can either be a single payment, or if regular pay is chosen – it’s an annual payment for 5 years.
    • Minimum sum assured is Rs.5,000.
    • Maximum sum assured is Rs.50,000.
    • Tax benefits under Section 80C and Section 10(10D) of the Income Tax Act, 1961.
    • There is no requirement to take medical tests before purchasing this plan.
    • Minimal documentation simplifies the entire process of purchasing and claiming benefits under this plan.
    • Premiums start for as little as Rs.32 (including service tax). This depends on the sum assured option chosen.
    • There is a 30 day grace period from the date the premium payment is due, in which the premium can be paid without the policy lapsing.

    Benefits of Edelweiss Tokio Life Raksha Kavach Micro Insurance Plan

    1. Death Benefit:

      In the unfortunate event of the death of the life insured, the sum assured chosen will be payable to the dependents of the life insured.

    2. Surrender Value:

      Surrender Value only applies in the case of Single Pay policies, and is payable as under:

      Policy Year Year 1 Year 2 Year 3 Year 4 Year 5
      Surrender Value (as a % of Single Premium) 60% 45% 30% 15% 0%

    Eligibility Criteria of Edelweiss Tokio Life Raksha Kavach Micro Insurance Plan

    1. Entry Age:
      • Minimum: 18 years.
      • Maximum: 50 years.
    2. Maturity Age:
      • Minimum: 23 years.
      • Maximum: 55 years.

    Example

    Mr. Babu has a wife and a son, and is the sole earning member of his family. He decides to invest in a micro-insurance plan in order to provide financial security to his family in case he dies.

    He chooses this plan, and chooses a sum assured of Rs.50,000. Over the 5-year policy term, he paid his premiums regularly, and unfortunately died during the policy term.

    His family was then entitled to receive Rs.50,000 as a death benefit from the company, which they used to avoid financial insecurity.

    FAQ

    1. How long is the grace period in this plan?

      There is a 30-day grace period from the premium due date. If the premiums are not paid by the end of the grace period, the policy will lapse and no benefits will be payable.

    2. Are there any medical tests required in order to be eligible for this policy?

      No, there are no medical test requirements to take this policy.

      Q. What is the total term of this policy?

      This policy has a 5 year term.

    3. Are there any suicide claim provisions with this plan?

      If the life insured commits suicide within 12 months from the inception of the policy, a benefit equal to only 80% of the premiums paid till date will be paid to the dependents.

    4. What is the benefit payable if the life insured survives till the end of the policy term?

      There is no maturity benefit payable under this plan, and hence the life insured will not be eligible for any survival or maturity benefit.

      *Please note that all amounts, tenures, repayment requirements, time frames, interest rates, other rates, charges, fees, ceilings, requirements, criteria, features, benefits, exclusions, calculations, ratios, ratings, terms and conditions mentioned above are as of January, 2016, and are subject to change at any time. All banks / NBFCs / insurance providers / financial service providers / companies, etc. mentioned above retain all rights to modify, replace, or add to or subtract from any of the above, in any way, at any time, and at their own discretion. You are requested to reconfirm the same with your chosen bank / company / NBFC / insurance provider / financial service provider, etc. before making any financial commitments.

    GST of 18% is applicable on life insurance effective from the 1st of July, 2017

    Edelweiss Tokio Life Raksha Kavach Micro Insurance Plan Reviews

  • Page 1 of 1
    • Edelweiss Tokio Life Insurance
      "Better Term Policy "
      0.5 5.0/5 "Blown Away!"
      `The EDELWEISS TOKIO LIFE INSURANCE company give very good service in terms of sending sms intimating the customer about the due dates. The customer support service is excellent with the EDELWEISS TOKIO LIFE INSURANCE company. I have the Life insurance policy with the Edelweiss for about 35 yrs.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 05, 2018
    • Edelweiss Tokio Life Insurance
      "Good "
      0.5 4.0/5 "Great!"
      I am having the life insurance policy with the Edelweiss Tokio life insurance company. I would like to say that the coverage value is good and everything is fine one too. Customer service is better one with the Edelweiss tokio life insurance company.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 03, 2018
    • Edelweiss Tokio Life Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I do have life insurance policy with the Edelweiss lief insurance company and the customer service is far better, also I have experienced them as much good while compare with the other competitors in the market.
      Was this review helpful? 0
      , goa
      Reviewed on Oct 17, 2017
    • Edelweiss Tokio Life Insurance
      "Hamesa aapke saath"
      0.5 5.0/5 "Blown Away!"
      I have take a life insurance for my kids with EDELWEISS TOKIO LIFE INSURANCE. The insurance tenure is for 15 years and they secure the whole life of my kids even after the maturity period. In any time of my life,if any thing happens to me then the paid amount will be given to my family and can continue my insurance without any failure. One drawback regarding them is poor customer service.
      Was this review helpful? 0
      , allahabad
      Reviewed on Sep 23, 2017
    • Edelweiss Tokio Life Insurance
      "Easy process to buy insurance online"
      0.5 4.5/5 "Excellent!"
      I wanted a term plan and compared all plans available in the market. I bought edelweiss mylife+ online without any hassle. All process is easy and self explanatory. I am satisfied with the process and services offered by Edelweiss Tokio Life.
      Was this review helpful? 0
      , mumbai
      Reviewed on Aug 25, 2016
    • Edelweiss Tokio Life Insurance
      "Better policy"
      0.5 5.0/5 "Blown Away!"
      I have taken my life insurance from the Edelwiss tokio life insurance. I have taken a wealth builder plan from them. It covers accidental and hospital coverage. I only have to pay rupees 70 per month for this policy. I chose this policy only after looking into the coverage.
      Was this review helpful? 0
      , aurangabad
      Reviewed on May 26, 2016
    • Edelweiss Tokio Life Insurance
      "Good "
      0.5 4.0/5 "Great!"
      I do have the life insurance policy with the Edelweiss tokio life insurance company like its the term life insurance. Services are good with them and I dint found any issues with them. I am with them from the last five to six months of time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 25, 2016
    • Edelweiss Tokio Life Insurance
      "best"
      0.5 4.0/5 "Great!"
      In edelweiss tokoi life i have taken a term plan.We have to make the premium till our age of eight. Accidental and natural death coverage is been given.Policy coverage offered is one core. They are offering the premium waive off in case any unfortunate take place to the insurer. Payments can be done online.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Nov 23, 2015
    • Edelweiss Tokio Life Insurance
      "Best in returns!!!"
      0.5 5.0/5 "Blown Away!"
      It is a fast growing company. Fund value is grown with this company. It is the best company to invest for ulip plan. I have taken this policy before three years and every year I will around 24% of returns which is good. With EDELWEISS TOKIO LIFE INSURANCE their service is proper. Premium amount is similar as like other company. Maturity is for 5 years I can also extend it for another 5 years. So it very good policy and we also get good returns.
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 23, 2015
    • Edelweiss Tokio Life Insurance
      "Good payment option"
      0.5 4.0/5 "Great!"
      I have selected EDELWEISS TOKIO LIFE INSURANCE because ICICI Executives recommended about this.I have taken a money back guarantee scheme with EDELWEISS TOKIO LIFE INSURANCE.Its basically a 20years plan and they have provided 10% as the interest for the and provide the amount after 4years.The payment option provided was really good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 16, 2015
    • Edelweiss Tokio Life Insurance
      "Good Benefits!"
      0.5 5.0/5 "Blown Away!"
      Premium of 25K is paid on yearly basis for the Edelweiss Tokio Life Insurance. The benefits are they are providing a good interest rate for the premium paid. The insurance tenure is of 10 years and I will be getting the money after maturity. There are additional benefits like accidental coverage .
      Was this review helpful? 0
      , bhubaneshwar
      Reviewed on Oct 14, 2015
    • Edelweiss Tokio Life Insurance
      "Need To Improve..."
      0.5 1.0/5 "Really Bad"
      It was a bad experience with edelweiss tokio term insurance. I applied for a policy through an online portal but they did not come up with their commitments so I canceled the same and took my money back. I did nit get any kind of response from them.
      Was this review helpful? 1
      , new delhi
      Reviewed on Sep 18, 2015
    • Edelweiss Tokio Life Insurance
      "Have invested in equity..."
      0.5 3.0/5 "Satisfactory"
      I have several life insurance plans and infact I have invested in equity. Whatever the amount that I am paying to Edelweiss Tokio Life insurance they deposit it in share market. My insurance coverage is of 4.20lakhs and that is for sure and I get 2.25lakhs after five years. Coverage is not that much appreciable.
      Was this review helpful? 0
      , nagpur
      Reviewed on Aug 11, 2015
    • Edelweiss Tokio Life Insurance
      "Go with edelweiss"
      0.5 4.0/5 "Great!"
      I took the term insurance from the edelweiss tokio life insurance company. Everything is good with them. The coverage is around 2 crores. All the things what I had with them is the risk coverage plan. So far I have not claimed anything. Experience is good with them and the documentation is also good.
      Was this review helpful? 1
      , pune
      Reviewed on Aug 01, 2015
    • Edelweiss Tokio Life Insurance
      "Pension plan "
      0.5 4.0/5 "Great!"
      I have recently taken a pension plan with Edelweiss tokio Life Insurance and the service provided is very good.This pension plan is for 15years and I pay around 24295Rs as the premium for this Insurance.They do provide coverage for 7Lakh in this Insurance and I do my premium payments through cheque.
      Was this review helpful? 0
      , rajkot
      Reviewed on Jul 24, 2015
    • Edelweiss Tokio Life Insurance
      "Good "
      0.5 3.5/5 "Pretty good"
      I have a Life Insurance with EDELWEISS TOKIO with which I got recently enrolled.Its basically a term Insurance and after reading the policy docs I felt the process is quite complicated and its a term Insurance were the benefits should go to my parents and they should not suffer in the last minute to complete the formalities of insurance.
      Was this review helpful? 2
      , pune
      Reviewed on Jun 04, 2015
    • Edelweiss Tokio Life Insurance
      "Good"
      0.5 5.0/5 "Blown Away!"
      I am holding a life insurance from Edelweiss Tokio life insurance. It is basically a term plan and it is for 30 years and it is a life coverage plan. I have attached the riders along with the insurance I have taken. If in case something happens to me I will be getting double the sum assured amount. I make my premium through online.
      Was this review helpful? 5
      , bangalore
      Reviewed on Apr 30, 2015
    • Edelweiss Tokio Life Insurance
      "Wonderful ...."
      0.5 5.0/5 "Blown Away!"
      I did apply life insurance of Edelweiss through online and all the procedures were processed over phone. I never visited the branch for anything and paid the premium via online. Infact this is protection plan and have to pay it for 15 years out of 20 years of tenure. At the end would get sum assured with some bonus.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Apr 10, 2015
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