Step-by-Step Guide to Buy the Edelweiss Tokio Life Zindagi Plus Term Insurance Plan

When it comes to term insurance, the sooner you buy a term plan, the better it can be. At a young age, you can get a comparatively lower term insurance premium, and the extended life cover of the plan ensures that your loved ones stay protected for a long time. It is also important to pick the best term plan in India that perfectly aligns with your needs and your family’s future requirements.

The Edelweiss Tokio Life Insurance term insurance plan presents itself as a perfect companion here. With 116 branches in the country, a 55479 strong agent network, and a quick 24-hour claim settlement process, Edelweiss Tokio Life Insurance can offer you a term insurance plan that not only fits into your budget but also ensures a smooth customer experience and timely settlements for your family. Edelweiss Tokio’s term plan can be your saviour in your need of the hour with useful features, and a high sum assured that can offer your loved ones the right financial coverage they desire.

Read on to know more about the Edelweiss Tokio Life Zindagi Plus Plan.

Zindagi Plus from Edelweiss Tokio Life Insurance

The Zindagi Plus Plan from Edelweiss Tokio Life Insurance is a term life plan that can offer you a large sum assured along with tax benefits and the option to add several riders to enhance your coverage. The plan is ideal for all income groups and can provide you with peace of mind, assuring you of your family’s financial safety in your absence.

How to buy term insurance from Edelweiss Tokio Life – online and offline?

You can buy the online term insurance plan on the Edelweiss Tokio website by following the steps given below:

o   Visit the Edelweiss Tokio Website and go to the Zindagi Plus Term Insurance Plan page.

o   Input your full name, mobile number, gender, date of birth and email ID.

o   Click on ‘Begin Planning’.

o   On the next page, provide your Annual Income details, Smoking Habits, Marital Status and Spouse’s Details (if married).

o   Click on ‘Calculate Premium’.

o   Select the Total Life Cover Amount, Policy Term, Premium Payment Duration and Premium Payment Frequency (Monthly, Quarterly, Half-Yearly, Annually) and the Death benefit Payout Option (Lumpsum, Level Monthly Income, Increasing Monthly Income, Lumpsum + Level Monthly Income, Lumpsum + Increasing Monthly Income).

o   If you select Monthly Payout methods, then you also need to select the duration for which the payout will be disbursed (36, 60 or 120 months).

o   The screen will display the plans applicable to your profile. You can choose the base plan or one with the ‘Better Half Benefit’ (if applicable) or with the Waiver of Premium Benefit.

o   If you wish to add riders to your plan, click on ‘Customise your Plan’. Ensure to confirm the rise in term insurance premium due to the addition of specific riders.

o   Once you have customised the plan to your liking, click on ‘Buy Now’.

o   Re-check all the information you have added. Download the Benefit Illustration PDF for a detailed guide to the benefits you will get from your plan.

o   Click on ‘Proceed’.

o   Add the exhaustive list of personal details such as name, contact information, address details, lifestyle-related details, hobbies, occupation, existing insurances, etc.

o   Click on ‘Submit’.

o   Proceed to Premium payment.

o   On successful receipt of payment and verification of all provided data, you will be provided with a soft copy of your Zindagi Plus Term Insurance Plan.

You can also visit a branch to find out more about how to purchase the term plan. You can use the branch locator to find the nearest branch in your area.

Features of the Zindagi Plus Term Insurance Plan:

o   Comprehensive protection: The term plan offers comprehensive protection, taking care of your every need. It protects your family in the unfortunate event of the policy holder’s demise and offers them the necessary support at a trying time in their life.

o   Covid-19 cover: One of the worst pandemics to ever hit the world has been the Covid-19 pandemic of 2020. With a rise in the number of infected people and the ability of the virus to affect people of all ages, the need for insurance has been paramount. The term life plancovers death by Covid-19 so that your loved ones do not suffer financially.

o   No medical test: It has been hard to get out of the house with social distancing norms being followed everywhere. Keeping your safety as the utmost priority, Edelweiss Tokio term insuranceoffers a life cover without medical tests up to Rs. 99,99,000. This means that you can secure your family from the comfort of your home.

o   Discounts for larger sum assured amounts: You get additional discounts for purchasing a term plan with a large sum assured. Not only do your loved ones stay protected with a high sum of money in the future, but you also get to save in the short term.

o   Two plan options: The term plan offers two options: Life Cover with Level Sum Assured and Life Cover with Decreasing Sum Assured. The first one offers the same sum assured throughout the policy term while the latter decreases the sum assured by 50% after the age of 60 up to the end of the policy term.

o   Flexible premium payments: You can continue to pay your premiums till the age of 60. This takes off the burden from your shoulders and allows you to manage your money better. Moreover, you can pay your premiums yearly, half-yearly, quarterly or monthly. 

o   Waiver of premium benefit: An illness can bring with it high medical bills. And it can also impact your ability to work and earn. However, this benefit waives off your future premiums on the diagnosis of one of the 34 critical illnesses listed in the plan, thereby extending you the necessary help when you need it the most. Your plan stays unaffected, and you can concentrate solely on your health.

o   Option to add a spouse: At an additional cost, you can add your spouse to the same policy. Under this option, your spouse gets an additional life cover amounting to 50% of your sum assured.

o   Add on term plan benefits: You can add riders to your plans too. The plan offers riders, such as the Accidental Death Benefit Rider, the Accidental Total and Permanent Disability Rider, the Critical Illness Rider, and the Hospital Cash Benefit Rider. These can be added at an extra cost over the premium.

o   Flexible policy tenure: You can pick a minimum policy term of 10 years and a maximum policy term of 62 years.

o   Tax benefits: One of the great advantages of a term insurance planis the tax benefits that come with it. You can claim a tax deduction of up to ₹1.5 lakhs on the premiums paid towards the term insurance policy under Section 80C of the Income Tax Act of 1961. The benefits received are also tax-exempt under Section 10 (10D) of the act.

Conclusion

The best term plan in India can ensure that your family also has a safety net to rely on. It can be their companion, saviour, and financial cushion when you are not around. Hence, it is important to pick a plan that offers you good features, flexible options, and a large sum assured. Edelweiss Tokio Insurance can provide you with all this and keep you and your loved ones financial secured for a long time. 

 

Neha Panchal - Financial Content Writer

Neha used to be an Engineer by Profession and Writer by passion, which is until she started pursuing full-time writing. She's presently working as a Financial Content Writer, with a keen interest in all things related to the Insurance Sector.