The TotalSecure+ Plan from Edelweiss Tokio Life is a non-linked, non-participating, term insurance policy. The key benefit of this policy is that it not only provides policy buyers a comprehensive life cover, but also provides them the option to choose an additional critical illness cover. Further, the insurer also provides three death benefit payout options, from which policy buyers can choose any one option as per their needs.
The minimum premium payable under this plan is Rs.3,000. Further, policy buyers can also purchase riders to customise their coverage. Any individual who purchases this policy can avail tax benefits under the Income Tax Act, 1961.
In order to purchase any life insurance policy, you will need to meet the eligibility criteria set by the insurance provider.
|Parameters||Criteria for eligibility|
|Minimum age at entry||18 years|
|Maximum age at entry||65 years|
|Maximum age at maturity||
Sum Assured and Premium Range - What you get and what it costs?
The sum assured is the minimum amount of money that one’s nominee is guaranteed to receive from the insurer, in case of the policyholder’s death.
|Minimum Sum Assured||
|Maximum Sum Assured||
The premium is a nominal sum of money that the policy buyer pays to the insurer to avail insurance coverage.
|Minimum term of the policy||10 years|
|Maximum term of the policy||
|Premium Payment Term (PPT)||
|Premium Payment Mode||
|Minimum Premium Amount||Rs.3,000|
*Premiums vary based on age, location, plan term, and other factors.
Plan Coverage - What the Edelweiss Tokio TotalSecure+ Plan covers?
|Critical Illness Benefit||If the life assured is diagnosed with a critical illness, he/she will be provided a lump sum payout. The policy cover will not cease to exist after the payout has been made. However, the amount paid will be reduced from the death benefit amount. If the critical illness benefit is equal to the sum assured, the policy will cease to exist after the critical illness benefit is paid out.|
If you wish to enhance your coverage, you can opt to purchase riders offered by Edelweiss Tokio Life. The riders that you can purchase are:
If the policyholder happens to commit suicide within 12 months of the date of commencement of the risk cover, the insurer will refund 80% of the premiums paid to the nominee. If the policyholder commits suicide within 12 months of reviving the same policy, the insurer will pay the surrender value or an amount equal to 80% of the premiums paid to the nominee, based on whichever is higher.
With regard to the Critical Illness Benefit, no benefit will be paid if the life assured is diagnosed with a critical illness due to the following causes:
Other Key Features – Free-Look Period, Surrender Value, Grace Period, etc.
|Grace Period||The insurer offers a grace period of 30 days to policyholders.|
|Revival||Lapsed policies can be revived within a period of 2 years, from their date of lapse.|
|Free-Look Period||Policy buyers are provided a free-look period of 30 days.|
Policyholders can claim tax rebates under Section 80C of the Income Tax Act, 1961, for premiums they pay towards maintaining this policy. Tax benefits can also be claimed on any payouts offered by the insurer.
Other Features of Edelweiss Tokio Life
The TotalSecure+ Plan from Edelweiss Tokio Life comes with three plan options, thus helping you avail coverage as per your exact needs. Edelweiss Tokio Life, which is a joint venture between Tokio Marine Holdings Inc. and Edelweiss Financial Services, is a leading life insurance provider in India.
The insurer has a pan-India presence with around 91 branches across various states. Further, the insurer offers an array of varied insurance plans and is well-renowned for their customer-centric approach. The insurer has reported a claim settlement ratio of 93.29% for FY16-17. Edelweiss Tokio has also been recognised with several awards for their product innovations and services.