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Edelweiss Tokio Life Protection

Objective

This is a pure risk term plan that offers protection for a fixed tenure. The policy proceeds are paid to the nominees on death of the insured.


What does it do?

This term plan pays sum assured to the nominee in the event of death of the insured. The policy does not pay any maturity benefit on survival. Apart from regular and single premium payment options, there is a limited premium payment option wherein the policyholder can pay premiums for a limited term and enjoy insurance cover throughout the policy term. Surrender is allowed under single pay and limited pay options.


Pros

Policyholders have the choice to pay premiums regularly, as one-time payment or a limited time payment.
The policy gives premium discount to high sum assured policies, non-tobacco users and females.
It provides coverage for higher age of up to 70 years.
The policy can be surrendered in case of an emergency.
Premiums paid towards this policy qualify for taxation benefits.


Cons

Minimum sum assured of Rs 15 lakh can limit the policy to those looking for a high cover.
If one chooses to pay the premium throughout the policy term via the regular mode, the payments can only be made annually, and not  semi- annually, quarterly or monthly.
The policy doesn’t offer any riders.


Suited for

The policy is suitable for anyone looking for a term plan with more than Rs 15 lakh cover.


Our View

This policy can be taken if you need a insurance cover and prefer to buy the policy with agent’s assistance. It does not provide any riders. Limited premium payment mode can be useful to those unsure of regular income inflow after a few years, or those who fear faltering in paying regular premiums.

Eligibility
Entry Age (years) 
Minimum18
Maximum60
Maximum Maturity Age (years)70
Policy Term (years) 
Minimum10
Maximum30
Sum Assured (Rs) 
Minimum1500000
MaximumNo limit
Premium Payment FrequencySingle or Annual
Premium Payment TermSingle, 5-year, 10-year, 15-year and term of the plan
Policy CoverCover remains fixed for the tenure of the policy
Other Features 
Free Look CancellationIn case, you are not satisfied, you may choose to cancel the policy within 15 days of receiving the policy documents. Upon such cancellation, you will be paid back the premiums, minus the cost of stamp duty, medical reports and proportionate premium for the period for which the risk was covered
Grace PeriodYou are allowed to pay premiums within 30 days from the due date. If a due premium is not received within the grace period of 30 days, your policy will lapse and the life insurance cover will be terminated
Lapsed Policy ReinstatementYou can reinstate your lapsed policy any time (within 2 years from the due date of the first unpaid premium) by paying all the due premiums and undergoing underwriting requirements, if any
Tax BenefitsSection 80C, 10 (10D) of the Income Tax Act, 1961 would apply
ExclusionsIn case of death by suicide during the first policy year, or within one year from the date of reinstatement, no death benefit is payable.
Customer ServiceEdelweiss Tokio Life Insurance Company Ltd., Edelweiss House, Off C.S.T. Road, Kalina, Mumbai - 400 098
Customer Service 
Mail To[email protected]
Call On1-800-2121-212 between 8 am to 8 pm; Monday to Saturday
Annual Premium Option for Male
Policy term (years)Age (years)
2530354045505560
1024062668346251267812147642153832274
15256830184084611093741535824298NA
2028503508474073341141018828NANA
25314040365754867613694NANANA
3035204644675410332NANANANA
Figures indicate premiums on a Rs 20 lakh policy for an age over different policy tenures exclusive of service tax
Annual Premium Option for Female
Policy term (years)Age (years)
2530354045505560
1023362456288441266066106521556424350
15243026803322483470261186618576NA
202582302839225804886414464NANa
25282233964544661010602NANANA
303092384652808110NANANANA
Figures indicate premiums on a Rs 20 lakh policy for an age over different policy tenures exclusive of service tax
Single Premium Option for Male
Policy term (years)Age (years)
2530354045505560
10176361985825876375525699289984141272223154
152509030156411646073291832144402228188NA
2033342422545995287482131868207428NANA
25429905712081542118252178138NANANA
305475674046105938153920NANANANA
Figures indicate premiums on a Rs 20 lakh policy for an age over different policy tenures exclusive of service tax
Single Premium Option for Female
Policy term (years)Age (years)
2530354045505560
10171241807621522301324429870426110344171060
152348626414333624794871944112724177378NA
2030222358504755069280103250161738NANA
2537816471126411693528139450NANANA
30468106016482480121592NANANANA
Figures indicate premiums on a Rs 20 lakh policy for an age over different policy tenures exclusive of service tax
Annual Premium Option for Male with 5-year limited premium payment
Policy term (years)Age (years)
2530354045505560
10403245125838851412848207803342252494
1557576863929913755207513371155163NA
207744972613718200603021849324NANA
25987113001184792688140545NANANA
3012456167242384834746NANANANA
Figures indicate premiums on a Rs 20 lakh policy for an age over different policy tenures exclusive of service tax
Annual Premium Option for Female with 5-year limited premium payment
Policy term (years)Age (years)
2530354045505560
10391441284878686610018162462601640012
1553996045756910901162792627942733NA
207044830010912159262367638398NANA
25871910783145612128531747NANANA
3010696136541859627462NANANANA
Figures indicate premiums on a Rs 20 lakh policy for an age over different policy tenures exclusive of service tax
Annual Premium Option for Male with 10-year limited premium payment
Policy term (years)Age (years)
253035404550
20285055847822114441725829570
2556347344103901513022860NA
30702293501420019386NANA
Figures indicate premiums on a Rs 20 lakh policy for an age over different policy tenures exclusive of service tax
Annual Premium Option for Female with 10-year limited premium payment
Policy term (years)Age (years)
253035404550
2041144798624691001350222950
255010613082081198617864NA
30606876721038615324NANA
Figures indicate premiums on a Rs 20 lakh policy for an age over different policy tenures exclusive of service tax
Annual Premium Option for Male with 15-year limited premium payment
Policy term (years)Age (years)
2530354045
254173561476011110517867
3051087002956613887NA
Figures indicate premiums on a Rs 20 lakh policy for an age over different policy tenures exclusive of service tax
Annual Premium Option for Female with 15-year limited premium payment
Policy term (years)Age (years)
2530354045
25373345256021879313939
3044425566749211058NA
Figures indicate premiums on a Rs 20 lakh policy for an age over different policy tenures exclusive of service tax