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Edelweiss Tokio Protection Plan

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Edelweiss Tokio Life – Protection Plan

Edelweiss Tokio Life - Protection is a vanilla term plan from Edelweiss Tokio Life Insurance Company where the nominee would get the Sum Assured as death benefit if the life insured dies within the policy tenure but nothing would be payable to the policyholder if the life insured survives. Hence there is no maturity or survival benefit in this case.

Key Features of Edelweiss Tokio Life - Protection

  • It is a pure Term Insurance Policy with Death Benefit only and no Maturity Benefit
  • Large Sum Assured rebate is available.
  • Limited Premium paying Options available
  • Discount for non-smokers for a sum assured of Rs 25 lacs and more.

    Benefits you get from Edelweiss Tokio Life - Protection

    • Death Benefit – In case of death of the policy holder, the nominee would receive the sum assured under this policy.
    • Maturity Benefit – There are no maturity benefits under this plan.
    • Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C

    Eligibility conditions and other restrictions in Edelweiss Tokio Life - Protection

      Minimum Maximum
    Sum Assured (in Rs.)  15,00,000 No Limit
    Policy Term (in years) 10 30
    Premium Payment Term (in years) Single, 5, 10, 15 Equal to policy term
    Entry Age of Policyholder  18 60
    Age at Maturity 28 70
    Payment Modes Only Annual


    Sample illustration of premium amount in Edelweiss Tokio Life- Protection

    The below illustration is for a healthy Male (non-tobacco user) opting for a Sum Assured = Rs. 50 lakhs and Policy Term = 25 years

    Additional Features and Benefits of Edelweiss Tokio Life - Protection

    Riders – There are no riders available in this policy

    What happens if?

    • You stop paying the premium - If the policy holder stops paying the premium, then all benefits of the policy will cease after the policy lapses.
    • You want to surrender the policy – Surrender Benefit option is available only to Single Premium and
    • Limited Premium policies according to the following formula:
    • Surrender Value - Total Premium paid X 70% x No. of remaining complete months of cover/Total Policy
    • Term in months
    • Surrender is allowed only after the Premium Paying Term is over for Limited Paying Policy.
    • You want a loan against your policy – Loan facility is not available under this policy.
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