What is Edelweiss Tokio Life Term Plan?
Under this plan, a yearly premium has to be paid to Edelweiss Tokio Life Insurance. On death of the insured during the policy tenure, the insurance amount, called the Sum Assured, is paid by Edelweiss Tokio Life Insurance to the nominees of the insured. If the insured survives the policy term, he or she does not get anything in return and loses the yearly premiums paid.
What are its key features?
The nominees are provided with the sum assured as a lump sum amount or through the chosen payout option in the event of the policyholder’s death. Tax deductions and exemptions are provided with under section 80C and 10(10D) Additional amount over and above the policy’s sum assured is provided if the event mentioned in the added rider is fulfilled. It also provides loan facility for meeting any unforeseen financial requirement There are other extra benefits for higher premiums
What are its benefits?
Longer protection. High Coverage Financial stability Tax Benefit Critical Illness Cover Lumpsum Amount Additional Riders
Why buy insurance on InsureMile online platform?
Because enquiry about insurance quotes, buying of insurance and other transactions are simple, transparent and competitive on InsureMile platform Because InsureMile does not ask you for your phone number or email details, thus you are not harassed by unwanted calls or mail. Because InsureMile will guide you, whenever you need any assistance
What is the claim ratio?
The claim settlement ratio is 93.29%. Edelweiss Tokio Life settled 153 death claims against the total claims 164 reported for the FY 2016-17. The payout was Rs 12.75 Crores for 2016-17
The most important differentiator is InsureMile’s ‘Buy A Policy, Feed A Child’ mission. For every policy you buy, InsureMile on your behalf contributes 25 meals to a child. You are thus becoming part of a Social Movement to eradicate hunger among children in India. There is no additional amount to be paid for the social cause. It is part of the premium. You can claim tax benefits for the donation you have made.