Insurance Plans 800 views March 4, 2020

Edelweiss Tokio Zindagi Plus

Edelweiss Tokio Zindagi Plus is a term insurance plan with comprehensive benefits like life cover for the policyholder’s spouse. With an additional life cover with the better-half benefit, this plan ensures complete security for the entire family of the policyholder.

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Benefits of the Edelweiss Tokio Zindagi Plus

1. Better-Half Benefit

Under this option, the policyholder can start a life cover in his/her spouse’s name to provide enhanced protection to his/her family. This option provides financial protection in case of the unfortunate demise of the policyholder. The benefit under this life cover will be 50% of the life cover of the policyholder up to Rs 1 crore.

2. Top-Up Benefit

Under this option, the policyholder can increase his/her life cover every year for their growing needs. The life cover can be increased at a rate of 5% or 10% as per the choice of the plan holder. This benefit will increase the base sum assured every year until 60 years of age or until the cumulative top-up benefit equals to the basic sum assured or till the remaining policy term is less than five years or till the death of the policyholder, whichever of these 4 options is earlier.

3. Life-Stage Benefit

The USP of Edelweiss Tokio Zindagi Plus plan is its unique life-stage benefit. Under this option, the policyholder can increase his/her life cover on the basis of the important stages of his/her life like marriage, children, home loans, etc. The sum assured can be increased upon the occurrence of the following events:

  • 1st Marriage: The plan holder can increase the base sum assured by 50%
  • Birth of 1st child: The plan holder can increase the base sum assured by 25%
  • Birth of 2nd child: The plan holder can increase the base sum assured by 25%
  • Home loan: In case the policyholder decides to take a home loan after the risk commencement date, he/she can increase the base sum assured by 50%.

4. Waiver of premium

This policy takes care of the life assured in case of any critical illness. If the policyholder is diagnosed with any of the 35 critical illnesses mentioned under this plan, all the future premiums will be waived off and the benefits to the policy will continue as it is.

Rider Benefits of Edelweiss Tokio Zindagi Plus Plan

1. Hospital cash benefit rider

In case of hospitalization of the policyholder due to ant unforeseen event, this rider covers the daily hospital expenses of the policyholder. In addition, the hospital cash benefit rider also provides for the post-hospitalization expenses of the policyholder.

2. Critical Illness Rider

In case the income earning capability of the policyholder is hindered due to a critical illness, this rider provides a lump sum to cover the immediate expenses of the policyholder.

3. Accidental Death Benefit Rider

In case of the accidental demise of the policyholder, his/her family will be provided with the rider cover amount that is selected under the Edelweiss Tokio Zindagi Plus plan. The rider amount is paid in a lump sum to help the financial needs of the deceased family.

4. Accidental Total and Permanent Disability Rider

In case the policyholder meets with an unfortunate accident which then causes total or permanent disability of the policyholder, then he/she gets the amount selected when adding this rider. It provides financial relief in terms of a lump sum to help the policyholder with his needs.

Eligibility of Edelweiss Tokio Zindagi Plus Plan

1. Entry age for life assured and spouse

The minimum age for the life assured under the Edelweiss Tokio Zindagi Plus plan is 18 years. The maximum age is 65 years for life cover with sum assured and regular pay, 50 years for life cover with sum assured and ‘pay till 60’ payment option, 50 years for life cover with decreasing assured and 55 years for life cover with decreasing sum assured and regular pay.

2. Maturity age

The minimum maturity age is
28 Years: For life cover with regular pay and sum assured.
65 years: For life cover with decreasing assured and ‘pay till 60’ option
For life cover with ‘pay till 60’and sum assured
For life cover with decreasing assured and regular pay

3. Premium amount and paying term

The premium amount is Rs 3000 for the yearly premium paying frequency, Rs 2000 for half-yearly, Rs 1250 for quarterly, and Rs 500 for monthly.

4. Minimum and maximum policy term

The minimum policy term for regular pay is 10 years and ‘pay till 60’ option is 15 years. The maximum policy term for Edelweiss Tokio Zindagi Plus plan is 62 years.

5. Sum assured

The minimum sum assured under Edelweiss Tokio Zindagi Plus plan is Rs 50 lakhs if the policyholder has chosen the option of a top-up benefit, better half benefit or life stage benefit. For the rest of the cases, it is Rs 25 lakhs.

Conclusion

Edelweiss Tokio Zindagi Plus Plan is a comprehensive plan that provides complete security to the family of the plan holder and has numerous rider benefits for accidental coverage. It has been designed keeping in mind the customer’s budget, requirement, and financial objectives.

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