Edelweiss Tokio Life Insurance

  • Think Insurance. Think Edelweiss.
  • 98.74% Claim Settlement Ratio
  • 29 Crore+ Policyholders
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Overview

Edelweiss Tokio Life Insurance is a leading life insurance company in India offering various innovative and comprehensive life insurance solutions to individuals and families. Edelweiss Tokio Life Insurance was started in 2011 and is a joint venture between Edelweiss Financial Services Limited (one of India’s leading and diversified financial services companies) and Tokio Marine Holdings Inc. (one of the oldest (around 140 years) and largest insurance companies in Japan). Edelweiss Tokio Life Insurance aims to provide financial protection and security to its customers, helping them achieve their life goals and safeguard their loved ones' futures. Edelweiss Tokio Life Insurance has won many awards over the years. Some of the awards and recognition won by Edelweiss Life Insurance are mentioned below:

  • Edelweiss Tokio Life Insurance won the “Best Workplaces in Life Insurance India” award in 2022 by the Great Place To Work Institute.
  • Edelweiss Tokio Life Insurance ranked 51st in “India’s Best Companies to Work” 2022 by the Great Place to Work Institute.
  • Edelweiss Tokio Life Insurance won the “Asia's Best Insurance Company Award” for Digital Sales Channel at Insurance Alerts Awards 2020.
  • Edelweiss Tokio Life Insurance won the “Best Innovation in Customer Service” at the 25th BFSI Tech Innovation Forum, organised by Alden Global & NASSCOM - COE.
  • Edelweiss Tokio Life Insurance won the “Product Innovation Company of the Year” for the Wealth Secure+ plan at the India Insurance Summit & Awards 2020.

Edelweiss Tokio Life Insurance Company Specification

Below are the key specifications of Edelweiss Life Insurance Company.

Particulars Specifications
Claim Paid Percentage (2021-22) 98.09
Group Death Claim Paid Percentage (2021-22) 99.39
Branches in India 120+
Solvency Ratio (2021-22) 1.97
Market Share (2021-22) 1464.20 Crore

*Data has been sourced from the annual report of IRDAI 2021-22

Key Features of Edelweiss Tokio Life Insurance

Edelweiss Tokio Life Insurance offers several important features that set it apart in the insurance industry. Here are some of the notable features of Edelweiss Tokio Life Insurance:

01

Comprehensive Insurance Solutions

Edelweiss Tokio Life Insurance offers various insurance products, including protection, savings and investment, retirement, and child and health plans. This comprehensive range ensures that individuals can find the right insurance solution to meet their needs and financial goals.

02

Innovative Product Offerings

Edelweiss Tokio Life Insurance is known for its innovative product offerings that meet the evolving needs of its customers. They continuously strive to introduce new and relevant insurance products that address emerging trends and challenges. These innovative solutions offer unique features and benefits to customers, allowing them to customize their insurance plans based on their needs.

03

Customer-Centric Approach

Edelweiss Tokio Life Insurance strongly emphasises customer satisfaction. The company adopts a customer-centric approach and strives to deliver exceptional service at every touchpoint. Their dedicated customer support team provides prompt and personalized assistance to policyholders, effectively addressing their queries and concerns.

04

Online Policy Management

Edelweiss Tokio Life Insurance offers a user-friendly online portal and mobile app that allows policyholders to manage their policies easily. Customers can get policy-related information, pay premiums online, track policy performance and initiate service requests through these digital platforms.

05

Strong Claim Settlement Ratio

Edelweiss Tokio Life Insurance has a commendable claim settlement ratio, ensuring that policyholders can rely on Edelweiss Tokio Life Insurance when needed. They strive to settle claims efficiently and transparently, providing financial support to policyholders and their families during difficult times.

06

Solvency Ratio

According to IRDAI Annual Report 2021-22, Edelweiss Tokio Life Insurance has a solvency ratio of 1.97. The solvency ratio is a measure that enables potential policyholders to evaluate a company's ability to meet its financial commitments. IRDAI requires insurers to maintain a minimum solvency ratio of 1.50.

Benefits of Edelweiss Tokio Life Insurance

Edelweiss Tokio Life Insurance offers many benefits to policyholders. Here are some of the key benefits of choosing Edelweiss Tokio Life Insurance:

01

Flexible Premium Payment Options

Edelweiss Tokio Life Insurance offers flexible premium payment options to policyholders. Customers can choose from annual, half-yearly, quarterly or monthly premium payment modes depending on their convenience and cash flow requirements.

02

Multiple Riders for Enhanced Coverage

Edelweiss Life Insurance offers a range of optional riders that policyholders can add to their base insurance plans for better coverage. These riders provide additional benefits, such as accidental death, critical illness cover, waiver of premium and income benefits. This flexibility allows customers to tailor their insurance plans to suit their specific needs and preferences.

03

Wealth Creation and Savings

Edelweiss Tokio Life Insurance offers savings and investment plans that help policyholders build wealth over time. These plans provide long-term wealth creation opportunities while providing life insurance, ensuring that individuals can achieve their financial goals while protecting their loved ones.

04

Hassle-Free Claim Settlement

Edelweiss Tokio Life Insurance has a strong track record of efficient and transparent claim settlement. The company strives to settle claims promptly while providing financial support to policyholders and their families during challenging times.

05

Technologically Advanced Solutions

Edelweiss Tokio Insurance leverages technology to provide seamless, user-friendly services. Policyholders can access their policy details, make premium payments and initiate service requests through the online portal or mobile app, ensuring convenience and ease in policy management.

06

Tax Benefits

Life insurance plans provide benefits such as insurance coverage, the potential for wealth accumulation, financial protection, and opportunities for tax savings. Policyholders can avail themselves of tax benefits on the premiums paid. These tax benefits apply not only to the premiums paid (up to INR 1.5 lakhs per year under section 80C of the Income Tax Act) but also to the payouts received (under section 10(10)D of the Income Tax Act 1961).

07

Health Lifestyle Benefits

Edelweiss Tokio Life Insurance recognises and rewards individuals with discounted premiums if they follow a healthier lifestyle.

Life Insurance Plans Offered by Edelweiss Tokio Life Insurance

Edelweiss Tokio Life Insurance offers various life insurance plans to cater to various financial needs and goals. Here are some of the key life insurance plans offered by Edelweiss Tokio Life Insurance:

Term Insurance

Wealth Creation Plans

Guaranteed Income Plans

Retirement Plans

Health Insurance

Group Solutions

Micro Plans

 

Tax Benefits of Edelweiss Tokio Life Insurance Plans

When you choose Edelweiss Tokio Life Insurance, you secure your financial future and enjoy attractive tax benefits. Our life insurance plans offer tax benefits that help you optimize your tax liabilities while providing valuable financial protection. Explore the Edelweiss Tokio Life Insurance tax benefits associated with Edelweiss Tokio Life Insurance plans:

  • Tax Benefits on Premiums Paid
    Under the Income Tax Act, 1961 provisions, the premium paid for your Edelweiss Tokio Life Insurance Policy may be eligible for tax deduction. Section 80C of the Income Tax Act allows you to claim a deduction on premiums paid subject to specified limits. This means you can reduce your taxable income by the premiums paid, thereby reducing your overall tax liability.
  • Tax Benefits on Pay-outs Received 
    Apart from the tax benefits on the premiums paid, the payments received from your Edelweiss Tokio Life Insurance policy can also offer tax exemption under certain circumstances. According to Section 10(10D) of the Income Tax Act, the death benefit or maturity income received from a life insurance policy is generally tax-exempt. This ensures that the financial assistance provided to your beneficiaries or you is not subject to taxation, allowing you to maximize the benefits you receive.

By choosing Edelweiss Tokio Life Insurance, you protect your loved ones achieve your financial goals and take advantage of the potential tax benefits. Ensure a secure future for your family while optimizing your tax planning with our comprehensive life insurance plans.

How to Choose the Right Edelweiss Tokio Life Insurance Plan

When it comes to choosing the right life insurance plan, Edelweiss Tokio Life Insurance offers a variety of options to meet your specific needs. Choosing the most suitable plan requires careful consideration of your financial goals, risk appetite and coverage requirements. Follow these steps to help you choose the right Edelweiss Tokio Life Insurance plan:

  • Assess your Financial Goals and Needs

    Start by evaluating your financial goals and needs. Determine the amount of coverage needed to protect your loved ones and meet future financial obligations. Consider factors such as outstanding debt, income replacement needs, education expenses and long-term financial security. This evaluation will help you understand the type and level of coverage you require from the insurance plan.

  • Understand Different Types of Life Insurance Plans

    Familiarize yourself with the different types of life insurance plans offered by Edelweiss Tokio Life Insurance. These include term insurance plans, savings and investment plans, child plans, retirement plans, health plans, group insurance plans and rural and social plans. Each plan has its features and benefits, serving different financial objectives. Understand the purpose and suitability of each plan to make an informed decision.

  • Consider Premium Affordability

    Evaluate your budget and determine the premium amount you can easily afford. Life insurance premiums should be affordable and sustainable in the long run. Consider the premium payment options offered by Edelweiss Tokio Life Insurance, such as monthly, quarterly, semi-annual or annual payments, and choose a plan that suits your financial capabilities.

  • Review Additional Benefits and Riders

    Check out the additional benefits and riders offered by Edelweiss Tokio Life Insurance plans. These may include accidental death benefits, critical illness riders, waiver of premium riders and more. Evaluate whether these supplemental features are relevant to your needs and provide value-added benefits that enhance the overall coverage of your policy.

  • Compare Policy Terms and Conditions

    Carefully review the policy terms and conditions of the shortlisted plans. Pay attention to policy terms, renewal options, exclusions, surrender value and claim settlement process. Ensure you understand all the policy aspects and are comfortable with the terms before making the final decision.

  • Seek Professional Advice

    If you are still deciding which Edelweiss Tokio Life Insurance plan is best for you, consider seeking professional advice. Please consult with our RenewBuy Partners, who can assess your circumstances, provide personalized recommendations and guide you through the selection process. Their expertise can help you make an informed choice and choose a plan that suits your financial goals.

Why Edelweiss Tokio Life Insurance is a Trusted Provider?

Edelweiss Tokio Life Insurance has earned the trust and confidence of millions of individuals across the country. As a trusted provider, we stand out in the insurance industry due to several key factors. Know why Edelweiss Tokio Life Insurance is a preferred choice to secure your financial future:

01

Strong Presence in the Insurance Industry

With a strong presence in the insurance industry, Edelweiss Tokio Life Insurance has established itself as a reliable and reputable provider. Our extensive experience and expertise enable us to understand clients' evolving needs and provide relevant solutions that meet their financial goals and aspirations.

02

Financial Strength and Stability

The financial strength and stability of the parent companies, Edelweiss Financial Services and Tokio Marine Holdings Inc., support Edelweiss Tokio Life Insurance. This financial support ensures we have the resources to honour our commitments and provide reliable financial protection to our policyholders. Knowing that your investment and future are safe with us, you can have peace of mind.

03

Customer Satisfaction and Support

Edelweiss Tokio Life Insurance prioritizes customer satisfaction and strives to provide exceptional support at every step of the customer journey. Edelweiss Tokio has a dedicated customer support team that is committed to addressing your questions, concerns and service requests promptly and efficiently. Edelweiss Tokio Life Insurance values the trust placed in us by our customers and continuously strives to exceed their expectations through personal assistance and reliable service.

04

Transparent Claim Settlement Process

Edelweiss Life Insurance has a transparent claim settlement process that ensures a hassle-free experience for our policyholders. They understand the importance of timely claim settlement and provide comprehensive assistance to expedite the process. Their commitment to transparency and efficiency has earned us a reputation for delivering on our promises and providing the financial support needed most.

Edelweiss Tokio Life Insurance Buying Process

Edelweiss Life Insurance offers a simple and hassle-free buying process. You can buy Edelweiss Life Insurance in two ways, i.e., from Edelweiss Tokio Life Insurance's official website and RenewBuy. Read below to check the buying process of Edelweiss Tokio Life Insurance in detail.

Buy from RenewBuy

  • Visit the official site of "RenewBuy."
  • Select the "Life Insurance Plan" tab.
  • Select the "Best Life Insurance Companies in India" tab.
  • The next tab will show you all the life insurance companies.
  • Click on the "Edelweiss Tokio life insurance" tab.
  • Select the desired Edelweiss Tokio Life Insurance plan.
  • Fill in all the required information.
  • Click on "Buy Now".
  • Proceed with the payment.

Buy From the Official Website of Edelweiss Life Insurance

  • Visit the Edelweiss Life Insurance official website.
  • Click on the desired type of Insurance tab.
  • The new page will show you all the "Edelweiss Tokio life insurance Plans."
  • Fill in the required details.
  • Click on the "Buy Now" button.
  • Pay and your life insurance policy document will be sent to your registered e-mail address.

Edelweiss Tokio Life Insurance Claim Process

When filing a claim for your Edelweiss Tokio Life Insurance policy, the process is designed to be simple, convenient, and hassle-free. Here's a step-by-step guide on how to make a claim:

01

Notification

The first step is to inform Edelweiss Tokio about the claim. You can do this by contacting their customer service helpline or visiting their official website. Provide all necessary details such as policy number, policyholder's name, and cause of claim.

02

Document Submission

You must submit relevant documents once the claim is notified. These may include the original policy document, death certificate (in case of a death claim), medical reports (if applicable), and any other supporting documents specified by Edelweiss Tokio.

03

Claim Evaluation

Edelweiss Tokio will evaluate the claim after receiving the necessary documents. They may request additional information or documents to process the claim efficiently.

04

Claim Settlement

Edelweiss Tokio will initiate the settlement process once the claim is approved. The settlement amount will be disbursed to the nominee or the policyholder, as applicable. Ensuring that all required bank account details are accurately provided is essential to prevent delays in receiving the claim amount.

05

Claim Assistance

Edelweiss Tokio's dedicated team of professionals will provide guidance and support throughout the claim process. They will keep you updated on the status of your claim and address any queries or concerns you may have.

Documents Required for Death Claim

Below mentioned are the documents that you need to submit while raising a claim:

In Case of a Death Claim

  • Original death certificate
  • Self-attested copy of the death certificate
  • Original Policy Document
  • Other documentation that the company requested

In Case of Unnatural Death

  • Copy of FIR
  • Copy of Panchnama
  • Copy of Post Mortem
  • Copy of Newspaper clipping
  • Copy of the final Investigation Report of the Police
  • Copy of the Chargesheet (in case of murder)
  • Copy of Driving License (in case the Insured was driving at the time of death)

In Case of Critical Illness / Hospital Cash Benefit Claim

  • Claimant Statement Death
  • Original Policy Document
  • Medical Records On The Life Assured include Indoor Case Papers, Discharge/Death Summary, Test Reports, Etc.
  • Claimant Photo Identity & Address Proof
  • Treating Doctor Certificate
  • Hospital Certificate If The Life Assured Was Hospitalized
  • Employer Certificate For Salaried Policyholder

In Case of Disability Claim

  • Original Policy Document
  • Treating Doctor Certificate
  • FIR/Police Report/Panchnama /Inquest Report
  • Medical Records On The Life Assured Being Hospitalized
  • Employer Certificate For Salaried Policyholder
  • Hospital Certificate If The Life Assured Was Hospitalized
  • Claimant Photo Identity & Address Proof

How Can I Raise a Claim?

You can raise your Claim through any of the below-mentioned ways:

  • Through the Official Website: https://www.edelweisstokio.in/claim/intimation
  • You can call Edelweiss Tokio Life Insurance on their Toll-Free No. 1800 212 1212
  • You can email Edelweiss Life Insurance at [email protected]
  • Alternatively, You can also visit the nearest branch of Edelweiss Tokio Life Insurance
  • Write to us at:
    Edelweiss Tokio Life Insurance Co. Ltd. Claims Team, 6th Floor, Tower 3, B wing Kohinoor City, Kirol Road, Kurla (w), Mumbai – 400070.

Edelweiss Tokio Life Insurance Contact Details

  • Address: 6th Floor, Tower 3, Wing 'B', Kohinoor City, Kirol Road, Kurla (W), Mumbai - 400070
  • Email us at [email protected] / [email protected].
  • Toll-free no. for claim: 1800 2121 212
  • Product Queries: 022 6611 6040

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