Edelweiss Tokio Life Insurance: Review & Online Payment

The Edelweiss Tokio Life Insurance Company Limited has been serving people with customer-centric quality insurance plans maintaining the cost-effectiveness at the same time.

The Edelweiss Financial Services Limited and Tokio Marine Holdings Inc have come together to form a joint venture in creating best-in-class insurance plans just for you.

These insurance plans are designed and planned to safeguard your life in both health and financial aspects. The benefits of applying and having an Edelweiss Tokio Life Insurance Plans range from cost-consciousness to high rated funds.

These values of Edelweiss Tokio has made it a top bracket insurance provider.

Also Read: What is ULIP? Is ULIP a good investment tool?

Just this year, in 2020 the Edelweiss Tokio Life Insurance Company has ranked no. 1 ULIP by the CRISIL which is a huge achievement made by the company so far. Being ranked no. 1 by CRISIL is considered to be a very good sign and positive review for their insurance plans.

Moreover, the company’s claim settlement is far more efficient and excellent as they have noted a claim ratio of 93.29% and the benefits along with their unique features make it more evidently one of the best choices for an insurance plan.

Also Read: Know about different types of Life Insurance Plans

Edelweiss Tokio Life Insurance Online Plans

1. Edelweiss Tokio Life My Term Plus (New)

The Edelweiss Tokio Life My Term Plus is a comprehensively designed insurance plan through a lot of contemplation. The My Term Plus accounts not only for your life insurance cover but also allows option of benefit of providing life cover for your spouse.

Moreover, My Term Plus has a very flexible and comfortable premium paying tenures. These premium tenures are available for 5, 7, 10, 15, and 20 years in all. This indicates that you can decide to pay premiums for 7 years yet be covered until the age of 70 years.

Furthermore, this insurance plan also provides an option of waiving off the premiums for 12 months in the year in which the life insured is diagnosed with one of the 12 critical illnesses along with the tax benefits or deductions this insurance plan has in store for you.

Also Read: How much money can you make through latest HDFC RD?

2. Edelweiss Tokio Life Wealth Secure Plus

The Edelweiss Tokio Life Wealth Secure Plus has been awarded with 1st rank for the best Unit Linked Insurance Plans by CRISIL this year, i.e 2020. The Wealth Secure Plus have very adaptive insurance plans as it keeps on changing in order to serve with the latest benefits of the time.

It is affordable by all individuals as this insurance plan starts with just Rs. 1,000 per month. Moreover, it offer an alternative in cancellation of the plan after 5 years in case if you change your mind and at the same time provides an option to continue the Wealth Secure Plus plan for 99 years.

Individuals are given liberty to choose from 3 varied types of plans in which one focuses on individual options, the other one on joint life options whereas, the third one is related to the child option plan. This gives the customer even more freedom and choice for selecting the right plan.

Also Read: What is Provident Fund?

3. Edelweiss Tokio Life GCAP

Nothing can be as volatile and fluctuating as the market investment, this is where the Edelweiss Tokio Life GCAP comes in picture. This plan shields you up against the fluctuation and instability by guaranteeing you a stable and good choice of returns. Moreover, the GCAP plan provides coverage to you and your family against health-related issues.

The Edelweiss Tokio Life GCAP also offers tax benefits under section 10(10D) of the Income Tax Act. Furthermore, if you stay connected and continue the plan for 9 years or more, you can get to enjoy the accrual additions of your benefits from thereon. It can prove to be a wise decision if you decide to invest in the same and save a lifetime of effort.

Also Read: Latest NSC Interest Rates

4. Edelweiss Tokio Life Wealth Gain Plus

Edelweiss Tokio has not left a single chance of being a customer-centric company that cares about its customer and keeps it as their topmost priority. This why Edelweiss Tokio Life Wealth Gain Plus provides you with sufficient opportunities to safeguard and secure you in your field of expertise. If you desire to enjoy a great lifestyle, this insurance life plan will definitely provide you with the same.

This insurance plan offers no allocation charges with 2 new additional fund options along with the existing 5 fund investments. Other benefits like booster additions, loyalty additions, investment strategies, maturity benefits and many more advantages are also offered to its investors.

Also Read: How to find Zerodha Brokerage

5. Edelweiss Tokio Life Wealth Plus

The Edelweiss Tokio Life Wealth Plus Insurance Plan not only offers the best-in-class insurance cover but ensures to secure the child benefits at the same time. This insurance plan is designed to utilize 100% of your insurance premium by investing the same in the market funds.

Moreover, it provides Rising Star Benefit for the betterment of your child’s future in any unfortunate demise of the life insured. It also aids in giving you a 7% more allocation than the amount of your premium paid. The plan stands rigid and robust by providing only two investment strategy plans.

Also Read: What is Zerodha Margin?

6. Edelweiss Tokio Life Wealth Ultima

The Systematic Monthly Plan (SMP) and the Systematic Transfer Plan (STP) are the two services provided in combination under the Edelweiss Tokio Life Wealth Ultima. These are the special aspects of this insurance plan as not all insurance plans take account of the unstable market for investment.

Along with SMP and STP, the plan also provides for Systematic Withdrawal Plan which makes it even more charming and suitable for the customer. The systematic monthly plan and transfer plan allows its customers to have a very secure and stable future.

Also Read: How to use Gate Virtual Calculator?

7. Edelweiss Tokio Life Zindagi Plus

The customizable comprehensive insurance plan covers your life along with your spouse’s life. The growing need of you and your family will be taken care of by the Zindagi plus plan by providing you various Premium Benefits and Premium Payment Options.

The Zindagi Plus Insurance Plan offers two options for sum assured payouts and gets you under cover against around 35 critical illnesses. The Edelweiss Tokio Plans can literally get you covered and secured for the rest of your lives.

Also Read: List of Top Term Plans in India

Edelweiss Tokio Insurance Plans Benefits

1. Customizable Insurance Plans

The Edelweiss Tokio Life Insurance has a number of customization options that allow you to choose an insurance plan which is the most suitable for you. These plans offer premium payment tenure with 5, 7, 10, and 15 years of period to keep yourself covered.

Moreover, when it comes to investing your premium payments, Edelweiss Insurance Plans also offer various investment strategies that will yield a high return on your investments. There are insurance plans where you can avail the bonus of insuring the life of your spouse as well. This proves the flexibility of these insurance plans and still has a lot in store for its customers.

Also Read: Car Insurance Buying Tips

2. Affordable Premiums

Keeping in mind that the minimum age to buy an insurance plan is 18, they have also provided options for people who have just started their careers and cannot afford to pay huge amounts for the premiums. Hence, Edelweiss Insurance Plans have insurance premiums starting from just Rs. 1,000 per month, making it extremely reasonable and easy to access.

Furthermore, you can also avail insurance plans that allow you to pay premiums for 7 years and yet remain secured until the age of 99 years. This is what makes Edelweiss Tokio Plans flexible and affordable for all. These premiums can be paid monthly, quarterly, half-yearly, or yearly as well.

Also Read: What is Coverage in Car Insurance Policy?

3. Easy Claim Settlements

The insurance plans of Edelweiss Tokio can settle all the claims within a given set of periods. According to the reports, the company’s claim settlement ratio was 95.82% for the year of 2019. Therefore, we can say that the insurance plans pay almost all the claims only if some that do not follow the terms and conditions are not settled easily without investigation.

Moreover, if the claim filed within 24 hours of an incident isn’t settled within the set period of 24 hours, then, the company also pays a 10% per annum interest on the amount. It is very rare and beneficial for the beneficiaries of the Insurance Policy with also an easy claim settlement process.

Also Read: Car Insurance Benefits and Discounts

4. Risk Management

Every individual has a different preference for the level of risk he is willing to take. If you wish to take on low or medium risk investment, there are investment strategies that will allow you to do so. There are market-linked plans like the ULIPs that are subject to your risk appetite and are at the same time beneficial on the later stages.

Moreover, the ULIPs with Edelweiss Tokio is one of the best as it has bagged 1st price for the best ULIP by CRISIL in the year 2020 which tells that the plan is very thoughtfully designed, curated, and customer-centric in nature.

Also Read: Latest SBI FD Rates

5. Investment-cum-Insurance

Edelweiss Insurance Plans are not just made to provide coverage for your health but to also safeguard you and your family from any financial crisis in case of an unfortunate demise of the life insured. Except for the core health insurance plans, all other insurance plans take care of the life insured in both aspects, i.e financially and health-wise.

After taking due consideration of future monetary needs, you can choose the most suitable and appropriate investment strategies that will help you get through the difficult times with ease. There is nothing that compares the peace of safeguarding your family’s monetary needs.

Also Read: What is GST? How much GST is charged on the products you buy?

6. Edelweiss Insurance Plans Tax Benefits

The insurance is classified to be providing tax deductions under section 80C and section 10(10D) as well. This will in turn allow you low tax payable on the income. Investing in insurance has a dual benefit at the same time. One being safeguarding and securing life and the second one is reducing the tax to pay on the income earned.

The premium payments can be claimed as deduction from the income earned while the amount received on maturity also is tax-free under the Income Tax Act, 1952.

Also Read: 4 Unpopular Reasons Why Life Insurance May Not Beneficial For Everyone

How to Buy Edelweiss Tokio Life Insurance Plans Online?

  1. Select The Most Suitable Insurance Plan
    The Edelweiss Tokio Life Insurance Plans provides the customers with a wide range of insurance plans that has their own pros and cons. It is very important to analyze all the plans as some insurance plans are curated especially for women while some are made to provide retirement benefits and others are child education security.

    Moreover, the Riders offer you with critical illness protection, waiver of premium, accidental death, and many more, but should choose them wisely.

  2. Choose appropriate life cover
    Usually, the life cover for an insurance should be at least 10 times your annual income. If that is not possible, you can choose from the wide range of insurance plans while taking consideration for risk-bearing capability. Moreover, some insurance plans offer a good investment return along with some bonuses which you definitely should not miss.

  3. Use Premium Calculator on the website
    The Edelweiss Tokio official website has real-time calculators for a variety of purposes that can give the desired results within seconds. This can help you decide which Insurance Policy or investment strategy is best for you and your family.

    All you need to do is fill some basic information like the tenure and interest rates to get the amount of premium to be paid. This will allow you to plan in advance for the same.

  4. Fill out the application form for the Insurance Plan
    On the official website, the company has kept an option where an individual can apply for certain insurance plans just by sitting at home. You have to fill up the proposal form with your name, date of birth, address, contact details, health issues if any, etc.

  5. Make the Payment
    If you have chosen online policies, all you have to do is pay for the same sitting at home or a place of choice. Moreover, the premium payments can be set to monthly, half-yearly, or annually depending on your convenience. The payment options like a credit card, debit card, net banking, or online wallets are provided just for your convenience.

  6. Submit the required documents
    After the completion of the approval process, every customer is required to submit some basic documents like personal information, address proof, passport size photograph, medical documentation if any, salary slip, etc. These documents are extremely vital for your policy to work and become active.
Also Read: How much late fees penalty you will have to pay in case of late GST return filing?

Review For Edelweiss Tokio Life Insurance

Edelweiss Tokio Life Insurance comes with a wide range of versatile and adaptive insurance plans is trying to provide the customers with the best of the services. Doing the same, it has also bagged 1st rank for the best ULIP by CRISIL that is a well-known credit rating company.

Edelweiss Tokio Life also offers online advice for choosing the right insurance plans and there are many other facilities that aid you in buying these insurance plans online. The benefits of these insurance plans range from all-round affordability to customizable insurance plans.

The claim settlement ratio of Edelweiss Tokio is almost 95.82% for 2018-20. Moreover, in situations of delay, they also serve the customer with a 10% p.a interest as well.

Also Read: What is GST Full Form?

Contact Details Of Edelweiss Tokio

Anyone who has any query or claim-settlements can call the toll free number of Edelweiss Tokio: 1800-212-1212.
The email address for your convenient claim settlement is: [email protected]
However, if you are unable to contact them through email, you can also register online for a claim.

People Also Read:

Step by step to make Life Insurance Claim

Edelweiss Tokio FAQs

What are the minimum and maximum age to buy the Edelweiss Tokio Life Insurance?

The minimum and maximum age for buying such insurance plans are 18 and 65 years respectively.

Can I get a guarantee for the settlement of the claim within 24 hours?

Edelweiss Tokio guarantees to payout for the claim-settlements within 24 hours of the incident and has a claim settlement ratio of 95.82%. Moreover, if they are unable to settle the claim in the given time, Edelweiss holds the policy to pay out 10% interest p.a after the lapse of 24 hours.

How will I know if my policy is about to get lapsed?

When you do not pay the premium on the Insurance Policy within the given period or also between the given grace period, the policy will get lapsed. Once the policy gets lapsed, you lose the chance to get any benefits from that Insurance Policy.
However, Edelweiss Tokio still gives its customer a chance to revive their policy within a period of 6 months. Though, there are certain charges and risk assessment you will have to go through after passing the 6 months period.

How do I check the status of my policy?

You can track your policies online by visiting the application tracker or policy tracker provided by Edelweiss Tokio. Or if you already have got your policy, then you can just login into your account from the official website.

What are the benefits of an Insurance Policy?

The insurance plans of Edelweiss Tokio are very flexible, customizable, affordable, financial security, investment strategies, premium payout options, etc.

What is the right age to buy Insurance Policy?

There is so suitable or appropriate age to buy an Insurance Policy. However, it is recommended by experts for individuals to buy insurance policies as early as possible. The more early you buy the policy, the more corpus or maturity amount you’ll receive.

Why do my family and I require Insurance Policy?

Every individual must opt to buy Insurance Policies to safeguard and secure their life and his/her family’s life as it is a peaceful feeling to know that your family will be provided financial assistance after your unfortunate demise. This accrued money from the plans can secure your child’s education and health at the same time.

Get Rs 25 Lac Return

by investing 5K/month