Edelweiss Tokio Term Plan

Edelweiss Tokio offers a range of term insurance plans to help the policyholder secure his family’s financial future in his absence. Each policy under the Edelweiss Tokio Term plan has extensive features and benefits.

Types of Edelweiss Tokio Term Plan:

The different types of Edelweiss Tokio term plans are listed below:

  1. Edelweiss Tokio Life - Income Replacement
  2. Edelweiss Tokio Life - Protection
  3. Edelweiss Tokio Life - MyLife+
  4. Edelweiss Tokio Life - Raksha Kavach

Edelweiss Tokio Life - Income Replacement

Income Replacement is Edelweiss Tokio’s term insurance plan where the death benefit is paid at an increasing rate every month post death.

Parameters

Minimum

Maximum

Entry Age

18 years

60 years

Policy Term

10 years

30 years

Benefit Expiry Age

28 years

80 years

Monthly Benefit

Rs.15,000

No limit

Premium Amount

Depends on the age, coverage, tenure and the premium paying term.

Sum Assured

Monthly benefit amount*12*Term

Premium Payment

Option

Equal to policy term or 5, 10 or 15 Pay or Single Pay

Premium Payment

Modes

Yearly

Edelweiss Tokio Life - Protection

Edelweiss Tokio Life - Protection is a simple term offering that offers a lump sum to the life insured’s family in the case of his unfortunate death. With this plan, the family can maintain the lifestyle, provided by the policyholder when he was alive, while at the same time securing them from immediate expenses at the time of his death.

Parameters

Minimum

Maximum

Entry Age

18 years

60 years

Policy Term

10 years

40 years

Benefit Expiry Age

28 years

80 years

Premium Amount

Depends on the age, coverage, tenure and the premium paying term

Sum Assured

Rs.15 lakhs

No limit

Premium Payment

Option

Equal to policy term or 5, 10 or 15 Pay or Single Pay

Premium Payment

Modes

Yearly

Edelweiss Tokio Life - MyLife+

MyLife+, offered by Edelweiss Tokio Life is a non-participating, non-linked Term Insurance Product that provides the policyholder the flexibility to choose the death benefit as lump sum or monthly payout or a combination of both. It also provides the flexibility to choose a cover for up to 80 years of age.

Parameters

Minimum

Maximum

Entry Age

18 years

60 years

Policy Term

10 years

40 years

Benefit Expiry Age

-

80 years

Premium Amount

Rs.2500

No limit

Sum Assured

Rs.25 lakhs

No limit

Premium Payment

Option

Equal to policy term

Premium Payment

Modes

Yearly

Edelweiss Tokio Life - Raksha Kavach (Micro Insurance Plan)

A micro term insurance plan, Raksha Kavach is designed for the people living in rural areas to provide them with life covers at minimal rates of premiums.

Parameters

Minimum

Maximum

Entry Age

18 years

50 years

Policy Term

5 years

Benefit Expiry Age

23 years

55 years

Premium Amount

Depends on the age, coverage and tenure

Sum Assured

Rs.5,000

Rs.50,000

Premium Payment

Option

Equal to policy term or Single Pay

Premium Payment

Modes

Yearly

Key Features of Edelweiss Tokio Term Insurance Plan:

  • Attractive premium rates
  • Comprehensive protection plans
  • Flexible payout as lump sum, monthly, or a combination of both
  • Hassle-free claims
  • Easy online buying option
  • Quick documentation
  • Tax benefits under Sec 80C and 10 (10D) of the Income Tax Act 1961

Example of Edelweiss Tokio Term Plan

Mr. Ram, a non-smoker, aged 35 buys Edelweiss Tokio Term Plan for a sum Assured of Rs.50,00,000 for a policy term of 15 Years, on an annual mode. In the middle of the term, he meets with an accident and dies. On his accidental death, his beneficiary will receive the entire sum assured.

Edelweiss Tokio Term Plan FAQs:

  1. Q. Will my policy lapse if I miss to pay a premium or if there is a delay in payment?

    1. No, the policy will not immediately lapse if you fail/forget to pay a premium. A grace period will be extended to the policyholder in order to make a premium payment.

  1. Q. Do all plans have an upper limit for the sum assured?

    1. There is no upper limit for sum assured for Edelweiss Tokio term plans, except for Raksha Kavach, where the maximum sum assured is Rs 50,000.

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

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