Life Insurance 431 views August 10, 2021

Edelweiss Tokio Life – Raksha Kavach is a non-linked, non-participating micro term assurance plan that provides life cover to you. So, in case of your death during the policy term, your family will be covered financially. Read this page further to know more about the Edelweiss Tokio Life – Raksha Kavach benefits.

Term Insurance

To know the right life insurance cover, please fill the details below and our policy experts will get in touch with you


Edelweiss Tokio Life – Raksha Kavach Death Benefit

If you die during the policy term, the insurer shall pay the sum assured to the beneficiary as mentioned in the policy schedule.

Edelweiss Tokio Life – Raksha Kavach Nonforfeiture Benefits

You can surrender the policy within the first year if you opt for  Single Pay. Check out the table below and know about the policy surrender value.

Policy YearSurrender Value (as a % of Single Premium)

Edelweiss Tokio Life – Raksha Kavach Eligibility Criteria

You need to meet the following age criteria to purchase  Edelweiss Tokio Life – Raksha Kavach Plan:

  1. Minimum Entry Age – 18 years
  2. Maximum Entry Age – 50 years
  3. Minimum Maturity Age Allowed – 23 years
  4. Maximum Maturity Age Allowed – 55 years

Edelweiss Tokio Life – Raksha Kavach Policy Term & Premium Payment Options

Edelweiss Tokio Life – Raksha Kavach policy term is 5 years and the premium payment option is single pay and regular pay. If you opt for regular pay, you can pay your premium amount yearly. The minimum Basic Sum Assured is INR 5,000 and the maximum is INR 50,000.

What if you Miss the Premium Payment?

If the premiums are not paid, you’ll get a grace period of 30 days from the date of payment. If you are unable to pay the premium during the grace period, the policy lapses. After that, the policy can be revived within two years from the date of the first unpaid premium. The revival will be done based on the underwriting and payment of all overdue premiums with a simple interest of 1% per month. On revival, the original sum assured will be restored.

Suicide Clause

If you commit suicide within one year from the date of commencement, the insurer shall pay 80% of the paid premiums to the nominee.

Free Look Period

You have a 15-day free look period from the date of receipt of the policy document to review the terms and conditions. And if you’re not satisfied with the terms and conditions, return the policy by sending a cancellation letter to the company. On such cancellation, the company will refund the paid premium after deducting stamp duty and the cost of medical examination expenses.

If the policy is sourced through distance marketing modes, the free look period will be 30 days. The following are some distance marketing modes:

  1. Telephone-calling
  2. Short Messaging Service (SMS)
  3. E-mail
  4. Internet
  5. Interactive television (DTH)
  6. Direct postal mail
  7. Newspaper & magazine inserts
  8. Solicitation through any means of communication other than in person

People Also Read