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Edelweiss Tokio Protection Term life Insurance

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A Term Assurance Plan which caters to the need of risk coverage in which the family members of the life insured realize their dreams even after the primary insured’s demise.

Key Features of Protection Insurance

  • Cost friendly solution providing complete protection of the aspirations for loved ones
  • Cost reduces further for higher Sum Assured
  • Large cover amount payable in the event of pre-mature death, to support the family of the insured
  • Assurance of protection for a maximum period of 30 years
  • Limited premium payment option to suit the stability of your current income stream and yet avail the cover for a longer policy term
  • Lower rates are available for leading healthy lifestyle by way of nonconsumption of tobacco
  • Depending on your age, your cover may extend up to 70 years

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 Protection Term life Insurance Overview

  • Eligibility
  • Benefit Description

Eligibility Criteria of Protection Term life Insurance

Entry Age Minimum - 18 years (last birthday)
Maximum – 60 years (last birthday)
Maturity Age 28 years to70 years (last birthday)
Policy Term You can opt for any Policy Term from 10 – 30 years
Premium Payment Term Single Pay/ Limited pay of 5,10,15 and Regular pay
Minimum Basic Sum Insured ₹15,00,000 (multiples of ₹1,00,000)
Maximum Basic Sum Insured
  • No Limit, subject to underwriting
  • Discount available for non tobacco user
  • Discount available for higher monthly benefit
Premium Payment Mode Annual

Benefit Descriptions of Protection Term life Insurance

Death Benefit Payable when the unfortunate event ofdeath of Life Assured has beenconfirmed.Chosen Sum Assured will be paid to the nominee.

Survival and Maturity Benefit No benefit is payable under this policy.

Surrender Benefit The surrender benefit under this policy is as follows:
  • Single Pay : Surrenders are not allowed in the first year. The policy may be surrendered from the second year onwards. Single Premium (exclusive of service tax) * 70% * Number of remaining complete months of cover / Total Policy Term in months
  • 5 or 10 or 15 Pay : Surrender benefit is zero during premium paying term. Total Premium paid (exclusive of service tax) * 70% * Number of remaining complete months of cover / Total Policy Term in months
  • Regular Pay : No restrictions. No benefit is available
Add-On / Rider Benefit One can make their Life Insurance policy more comprehensive by including the following riders:
  • Accidental Death Benefit Rider
  • Accidental Total and PermanentDisability Rider
  • Waiver of Premium Rider
  • Critical Illness Rider

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 07/08/2025