Edelweiss Tokio Life is a private sector insurance provider established in 2011. The company is a joint venture between Edelweiss Group of India, and Tokio Marine Holdings of Japan. It is among the fastest growing private players in the life insurance sector in India . Edelweiss Tokio Life provides a host of life insurance products aimed at providing high returns, guaranteed interest payments, child education needs, retirement benefits etc. for customers across a wide spectrum.
Key Highlights of Edelweiss Tokio Life Insurance Policy
1 Crore Life Cover
Get 1 Cr Life cover @₹ 15.23*/day
Claim Settlement Ratio
Claim-settlement ratio of 93.29% for year 2016-2017
100.00% Grievances Settled for year 2016-2017
A maximum tenure of upto 80 years minus entry age
Min Sum Assured: Rs 15 Lakhs
Max Sum Assured: No limit subject to underwriting
Specific exclusions: Suicide within the first 12 months
Add-on covers for Edelweiss Tokio Life Insurance
Accidental Death Benefit Rider
On death due to an accident, the beneficiary gets an additional Sum Assured as chosen under this rider
Accidental Total and Permanent Disability Rider
Benefit is payable during the tenure of the policy in the event the Life Assured becomes incapacitated as a result of disability
Critical Illness Rider
Critical Illness benefit would be paid in lump sum subject to a survival period of 30 days.
Documentation needed to apply for an Edelweiss Tokio Life Insurance
- 1. Identity Proof
- 2. Age Proof
- 3. Income Proof
- 4. Address Proof
- 5. PAN Number
Edelweiss Tokio Life Insurance Plans
The plans given below can be availed at any of the branches of Edelweiss Tokio Life in India.
- Edelweiss Tokio Life Protection Plans
These term plans are aimed at providing high Sum Assured to customers for nominal premium payments. These are pure term plans that will provide income surety to your loved ones when you’re gone.
- Edelweiss Tokio Life MyLife± : Death benefits can be chosen to be paid out in either lump sum or in instalments, or a combination of both.
- Edelweiss Tokio Life Protection: Lump sum paid out at as death benefits.
- Edelweiss Tokio Life Income Replacement: Cost-effective solution for providing protection to your loved ones.
- Edelweiss Tokio Life Raksha Kavach (Micro Insurance Plan): A micro term insurance plan that provides low premiums and competitive Sum Assured options.
- Edelweiss Tokio Life Savings Plans
The investment plans denote products which provide payouts in addition to death benefits. These plans can be bought to consolidate savings through debt instruments, or for earning attractive interest rates through investments in mutual funds and other instruments. Edelweiss Tokio Life savings and investment plans are available under two categories:
Wealth Enhancement Plans
- Edelweiss Tokio Life Dhan Nivesh Bima Yojana (Micro Insurance plan, single premium, endowment): Additional benefits in case of accidental death.
- Edelweiss Tokio Life Wealth Enhancement Ace (ULIP): Flexible fund options along with guaranteed loyalty payments.
- Edelweiss Tokio Life Single Pay Endowment Assurance Plan (Single premium, endowment) : Single investment, which pays out assured benefits at maturity after 10 years, apart from life cover.
Wealth Accumulation Plans
- Edelweiss Tokio Life Cashflow Protection Plus (Participating, non-linked):Guaranteed money back and non-guaranteed cash bonus income.
- Edelweiss Tokio Life Wealth Accumulation (Accelerated Cover) (ULIP): Investment as well as risk protection, with the ability to switch between funds during policy tenor.
- Edelweiss Tokio Life Guaranteed Income Plan (Non-participating, non-linked, endowment): Maturity benefits can be paid out in lump sum, with assured benefits of double the amount fo premium paid.
- Edelweiss Tokio Life Save n Prosper (Endowment): Profits are offered tax-free, along with bonuses and discounts on the Sum Assured.
- Edelweiss Tokio Life Safe n Sure Plan (Non-participating, non-linked, endowment):Savings plan where fixed premium is collected for 15 years.
- Edelweiss Tokio Life Milestones Plan (Participating, non-linked): Anticipated endowment plan with cash back option at regular intervals.
- Edelweiss Tokio Life Wealth Builder (Non-participating, non-linked): Combination of savings and protection plans designed to provide protection to family.
- Edelweiss Tokio Life Wealth Accumulation (Cover Plus) (ULIP): Tailor-made solutions where death benefits are paid out as combination of Sum Assured and Fund Value.
- Edelweiss Tokio Life Wealth Accumulation (Privilege) (ULIP): No charges such as partial withdrawal, administration costs, switching, etc. are applicable. As such all of premium will be invested resulting in higher returns.
- Edelweiss Tokio Life Child Plans
Edelweiss Tokio Life offers child education plans aimed at securing the future of a child through regular payments, so that he/she can pursue education in a field of their choice.
- Edelweiss Tokio Life EduSave: The insured’s child will continue to receive pre-defined benefits even if insured dies within the policy tenor. Benefits are paid out flexibly over durations as high as 5 years.
- Edelweiss Tokio Life Retirement Plans
With a retirement plan from Edelweiss Tokio Life, you can secure your future after retirement with fixed payments as well as cash protection. There are 4 products in this category:
- Edelweiss Tokio Life Cashflow Protection Plus: Guaranteed money-back and non-guaranteed cash bonus up to 100 years of age of the insured.
- Edelweiss Tokio Life Pension Plan:Multiple options for choosing plan details so as to provide high funds at the time of retirement.
- Edelweiss Tokio Life Immediate Annuity Plan: Traditional annuity plan that provides guaranteed annuity benefits at the time of policyholders’ retirement.
- Edelweiss Tokio Life Cash Income Plan: Premiums are collected for 20 years, and benefits are paid out over the next 20 years, apart from lump sum maturity amount.
- Edelweiss Tokio Life Online Term Plans
The online term plans include the regular plans described above, with the added functionality of buying online. The following life insurance products from Edelweiss Tokio Life can be purchased online:
- Edelweiss Tokio Life MyLife± (Protection/traditional)
- Edelweiss Tokio Life Wealth Builder (Wealth accumulation)
- Edelweiss Tokio Life Wealth Accumulation (Accelerated Cover)
Edelweiss Tokio products can be availed by visiting any of their branches, or applying online, if applicable.
Edelweiss Tokio Life insurance Customer Care:
Edelweiss Tokio has a very sophisticated customer support system which has been set up to assist customers at every step of the insuring process. The insurer has set up multiple channels via which customers can get in touch with the customer support team and resolve their queries and issues. Those who want to get in touch with the customer support team immediately can do by dialling on the toll free helpline number or even by filling up a simple form on the Edelweiss Tokio website under the Customer Service section. Alternately, customers can also get answers to their queries by using the instant chat service available on the insurer’s website. Those who have not been able to get in touch with the customer care via phone can also request a call back by providing their contact details in the website section dedicated to this. Furthermore, customers can also share their issues or feedback related to their policy with the customer care by visiting the Customer Service section on the website. Besides getting in touch with the customer care, the website also allows policyholders to carry out policy related requests such as make premium payments, renew their policy, track their policy application, get or view policy e-statements, view NAVs, request for unclaimed policy amount, view multiple premium payment options, and more.
Edelweiss Tokio Life Insurance FAQs:
- What is the most convenient way to contact Edelweiss Tokio Life Insurance?
The toll free is the best option as it is hassle-free and toll-free: 1800 2121 212.
- What are the other ways to reach the company office?
There is a Mumbai office. You can also reach the company online for any queries.
- How can I check the status of my policy?
- Check the policy status online on their own website.
- You will need to punch in the policy number and the policy holder’s date of birth, after that.
- You can also call or reach them through mail
- What are the available modes for payment of premium available for me?
There are two basic modes for payment of premium for Edelweiss Tokio Life, which have further many options:
- Online Mode has:
- Debit Card payment
- Payment through standing instructions or credit card
- Net Banking
- Offline Mode has:
- Through ECS facility
- Money Order
- Visit the branch nearest to your location.
- How Do I renew my policy with Edelweiss Tokio Life Insurance?
Use auto direct debit options which can be availed online by feeding your login ID and password into on the website. You can also approach any of the branch offices or speak with the customer care regarding the renewal process on the phone.
- How Do my family or me, settle claims for a policy with Edelweiss Tokio Life Insurance?
- Simply, submit the policy documents as well as claims form at any of the Edelweiss Tokio Life Insurance branch offices in your city.
- Upon receiving and verification of the documents, it takes around 30 days’ time to settle the claims. The claims are settled through NEFT mode.
- How Do I cancel my existing policy with Edelweiss Tokio Life Insurance?
You need to fill in a surrender form and submit it in any of the branch office along with the cancellation charges. Within a time frame of around 10 days the policy will be cancelled on record.
- How will the refunds be calculated post cancellation of the policy?
The refund will be calculated based on NAV of the current market price.
- What types of life insurance plans are available from Edelweiss?
The following types of plans are available from Edelweiss
- Education funding
- Living with impaired health
- Retirement funding
- Wealth enhancement
- Wealth accumulation
- Income replacement
- How Can I locate a branch of Edelweiss near me?
Branch locations are available on the website. Simply, click on the branch locater. Fill in the details and search.