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1. How to pay premium? What are the modes of payment available? There are two basic modes for payment of premium for Edelweiss Tokio Life, which have further many options: Online Mode Debit Card payment Payment through standing instructions or credit card Net Banking Offline Mode Through ECS facility IVRS Money Order Cash/Cheque/DD You can pay offline by visiting the nearest branch in your city. 2. How can I check policy status for Edelweiss Tokio child plans? You can check policy status online by visiting the e-portal, and punching in the policy number and date of birth. 3. What is the policy renewal process for Edelweiss Tokio child plans? The policy renewal process requires either using auto direct debit options which can be availed online by feeding your login ID and password into the e-portal 4. What is the companys process to settle claim for Edelweiss Tokio child plans? In order to settle the claim, you must submit the policy documents and claims form at any of the branch offices in your city. Upon receiving and verification of the documents, it takes about 30 days time to settle the claims. The claims are settled via NEFT mode. 5. What is the policy cancellation process for Edelweiss Tokio child plans? In case if you are dissatisfied with the policy, a surrender form can be filled and submitted in any of the branch office along with the cancellation charges. Within a time frame of 10 days the policy will stand cancelled on record. The refund will be calculated based on NAV of the current market price. Edelweiss Tokio Life launches My Life+

They are those types of plans which aim to create a secured fund for the childs future which will not be affected by the death of the earning parent. These plans usually have some common points which are mentioned below: Either the child or the parents life can be covered under the plan. Usually the parents life is covered and the individual needs to have a minor child. If the childs life is insured, the company keeps a deferment period in the form of some initial years where the company does not extend insurance coverage even though the plan starts. If the child dies in this period the only benefit payable is the premiums paid till date. Also, a child being a minor cannot enjoy the plans ownership which rests with the parent till the child turns 18 years of age after which the plan vests in the childs name and he becomes the policyholder. If the parent is insured, there is an added waiver benefit which is inbuilt within the plan. Under this benefit, in the event of the insureds death, subsequent premiums are waived off and are paid for by the company and the plan remains intact.

A child insurance plan is an important financial tool in your financial portfolio if you want to provide for your child in his future years. All other types of investments can give you good returns but a child plan is the only investment which will also give an assured return. The uniqueness of the plan lies in the fact that the plan continues even after your death where most of the investments stop. As in case of other investments, if you are not around to save in such investments, the investments will not grow and will stop. On the contrary, in a child plan, premium payments will continue even after your death which will continue building up the corpus. Such a corpus will be realized only when the plan matures and if you have planned in advance; the maturity date can be set to coincide with the childs important milestones in future like his graduation or higher studies. Your child is the source of your joy and if you do not plan for him his future will be at risk. Death is uncertain and if you are around for your child it will be the best because you would ensure that he gets the best education but what happens when you are not around? Who will take care of your child? In such a scenario, having a child insurance plan will be the best solution since you will not have to worry about financing your childs future; the insurance plan will do it. It is best to buy a child plan when you have a minor child and plan with a longer tenure. If the plan is a traditional one, a longer tenure will be required and even if the plan is a unit linked insurance plan, a longer tenure will ensure a higher corpus. So, buy a plan when the child is young. It has two advantages. One, you will have to save a smaller amount over the years and two, the power of compounding will increase the fund generated after the end of the period. Whats more, you can also save taxes both on the amount you contribute as premiums under the plan and also the fund you receive either on death or maturity. The respective Income Tax Act Sections 80C and 10(10D) make it possible.

Edelweiss Tokio Life Insurance Company currently offers only one kind of child insurance plan which provides for the financial security of the child even in the absence of the parent. Let us take a detailed look at the child plan offered by the company and its features and benefits