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  • Edelweiss Tokio Life Safe N Sure Plan

    Life Insurance
    • Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
    • Claim up to Rs. 1,50,000 deduction under section 80C**
    • Choose between annual and monthly premium payment options

    The Safe n Sure Plan from Edelweiss Tokio Life is a non-linked, non-participating, guaranteed endowment life insurance policy. The key benefit of this policy is that in addition to the life cover provided to the policyholder, the policy also guarantees a maturity benefit to the life assured at the completion of the policy tenure. Further, the life assured can also opt to take a loan against this policy, in case of an emergency.

    At the time of purchasing this policy, the policy buyer will be given the option of purchasing additional riders for an enhanced protection. Tax benefits can also be availed, under Section 80C and Section 10(10D), of the Income Tax Act.

    Eligibility - Who is the Safe n Sure Plan for?

    In order to purchase this policy, you will need to meet the pre-defined eligibility criteria.

    Parameters Criteria for eligibility
    Minimum age at entry 5 years
    Maximum age at entry 55 years
    Maximum age at maturity 80 years

    Sum Assured and Premium Range - What you get and what it costs?

    Sum Assured

    The sum assured is a certain amount of money that you or your nominee will receive from the insurer, as either the death benefit or maturity benefit.

    Minimum Sum Assured Rs.2 lakh
    Maximum Sum Assured No limit

    Premiums*

    The premium is a nominal charge that is levied by insurance providers for offering a life cover to the policy buyer.

    Policy term
    • 15 years
    • 20 years
    • 25 years
    Premium payment term 15 years
    Premium Payment Mode
    • Annual
    • Bi-Annual
    • Quarterly
    • Monthly
    Minimum Single Premium Amount
    • Annual Premium Payment Mode: Rs.7,326
    • Bi-Annual Premium Payment Mode: Rs.4,000
    • Quarterly Premium Payment Mode: Rs.2,500
    • Monthly Premium Payment Mode: Rs.1,000

    *Premiums vary based on age, location, plan term, GST, and other factors.

    Plan Coverage - What the Safe n Sure Plan covers?

    Death Benefit If the policyholder passes away during the policy tenure, the insurance provider will pay the full sum assured amount to the nominee, as the death benefit.
    Maturity Benefit If the life assured survives till completion of the policy term, the insurer will pay the sum assured as the guaranteed maturity benefit to the policyholder.

    Riders/Add-On Plans – Additional coverage under the Safe n Sure Plan

    By way of purchasing riders along with their life insurance policy, policyholders can enhance their coverage. Certain riders that can be purchased along with the Safe n Sure Plan are:

    • Edelweiss Tokio Life – Accidental Total and Permanent Disability Rider
    • Edelweiss Tokio Life – Term Rider
    • Edelweiss Tokio Life – Payor Waiver Benefit Rider
    • Edelweiss Tokio Life – Accidental Death Benefit Rider
    • Edelweiss Tokio Life – Critical Illness Rider
    • Edelweiss Tokio Life – Waiver of Premium Rider

    Exclusions - What the Safe n Sure Plan doesn’t cover?

    If the policyholder commits suicide within a year of purchasing the Safe n Sure Plan, no death benefit will be paid to the nominee by Edelweiss Tokio Life. In this case, the insurer will only return 80% of the total premiums paid.

    If the policyholder commits suicide within a year of reviving the policy, the insurer will pay the nominee either the surrender value of the policy or 80% of the total premiums paid, based on whichever is the higher of the two amounts.

    Other Key Features – Free-Look Period, Surrender Value, Grace Period, etc.

    Discounts
    • Policy buyers who opt to pay their premiums via the annual mode will receive a 3% discount.
    • If the policy buyer opts for a sum assured over Rs.2 lakh, he/she will be eligible to receive a discount.
    • The insurer also offers discounts to women.
    Paid-up policy If the policyholder has paid the due premiums for two full policy years and has missed the subsequent premium payment, the policy will be converted into a paid-up policy.
    Surrender value If the policyholder has paid all due premiums for a period of 2 years, he/she can choose to surrender the policy. The insurer will pay the life assured the higher of the guaranteed surrender value or the special surrender value.
    Loan Policyholders can avail a loan against their policy after it has acquired a surrender value.
    Grace period The insurer offers a grace period of 30 days to all policyholders.
    Policy revival Lapsed policies can be revived within 2 years from the date of lapse. To revive a lapsed policy, the policyholder will have to submit a written request, pay all unpaid premiums with an interest charge, and provide proof of insurability.

    Tax Benefits – How you can save with the Safe n Sure Plan?

    A policyholder can claim tax rebates for premiums paid during a given policy year under Section 80C of the Income Tax Act. Tax benefits can also be claimed after receiving the maturity benefit and death benefit, under Section 10(10D) of the Income Tax Act.

    Other Features of Edelweiss Tokio Life

    • Customer Service: You can contact the insurer through their dedicated contact number, chat feature on the website, requesting a call-back, and other such channels.
    • Application Tracker: You can track your application through Edelweiss Tokio’s official website by clicking on the respective tab and simply entering your policy number and date of birth.
    • Online Policy Renewal: Policyholders are also provided the option to renew their insurance plan online through the insurer’s website. To renew your policy, you will need to enter your policy number and date of birth, select your preferred payment mode, and then make the due payment.

    Why should you buy the Safe n Sure Plan from Edelweiss Tokio Life?

    The Safe n Sure Plan from Edelweiss Tokio Life offers policyholders a comprehensive risk cover, thus guaranteeing financial security to one’s dependents. Further, this policy also offers a maturity benefit to the policyholder at the completion of the policy tenure, thus also acting as a savings instrument.

    The insurer, Edelweiss Tokio Life, is a prominent insurance company, especially in the life insurance sector. The company was established in 2011 and has reported a steep growth since then. Currently, the insurer has 91 branches across the country and has employed around 21,449 agents. Further, the insurer also has a high claim settlement ratio of 93.29% for FY16-17.