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About COVID-19


COVID-19 or Coronavirus is an infectious disease caused by a newly discovered virus called severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2).

Most people infected with the COVID-19 virus will experience mild to moderate respiratory illness and recover without requiring special treatment. However, older people, and those with underlying medical problems like cardiovascular disease, diabetes, chronic respiratory disease, and cancer are more likely to develop serious illness.

What is a COVID-19 Insurance Plan?


A COVID-19 or Coronavirus insurance policy is a policy that provides an individual and his/her family financial protection in case of COVID-19. Such plans can cover the medical expenses incurred during the treatment of COVID-19 or cover death caused due to COVID-19. There are also a few exclusive plans that cover both medical expenses as well as death claims for COVID-19.

Types of Insurance Plans That Cover COVID-19


Long Term Protection

COVID-19 Health Insurance Plan

A COVID-19 or Coronavirus health insurance plan is an insurance policy that covers hospitalization and medical expenses incurred during the treatment of COVID-19. Most COVID-19 health insurance plans will cover pre and post hospitalization expenses.

Long Term Protection

Term Insurance Plans That Cover COVID-19

Many term insurance plans have the provision of covering claims that come under death due to COVID-19. These policies however do not cover any hospitalization expenses.

Why Should I Buy a COVID-19 Plan?


In the current pandemic situation, it is important for everyone to be adequately insured as life has become even more uncertain. Moreover, it is important to consider the high cost of treatment in private hospitals if suffering from Coronavirus. Even if you have a life insurance policy or a health insurance plan, it may not be adequate considering the rise in number of critical cases and deaths due to COVID-19.

Here are reasons why getting a COVID-19 specific insurance plan is a good idea:

  • Life Cover
    COVID-19 insurance plans offer a life cover that protects the policyholder’s family in case of a demise due to any reason. Death due to COVID-19 does not come under Force Majeure which means that despite being a pandemic, it is not considered as an ‘Act of God’ and claim will be payable.
  • COVID-19 Treatment Expenses
    If diagnosed with Coronavirus and hospitalized, the treatment expenses can go up to lakhs of rupees. This can be a big burden on the family’s finances. A COVID-19 insurance plan will take care of all medical expenses incurred due to COVID-19.
  • Rampant Spread of Virus
    Unfortunately, the fact of the matter is that Coronavirus is aggressively spreading across all major cities in the country. There are news of family, friends and neighbours being infected all the time. Even after taking utmost safety precautions, people are getting tested positive with Coronavirus. In such a situation, being mentally and financially prepared is the wisest thing one can do.
  • Age Does Not Matter
    During the early onset of COVID-19, it was believed that the disease largely affects seniors. However, over the course of the past three months, it has been observed that Coronavirus can affect any age group and can also prove to be fatal in some cases. It is best to be protected against such a disease, irrespective of your age.
  • Long Time Financial Impact
    In the current situation, there are many economic instabilities being faced. Lay-offs, pay-cuts, loss in business have become a common occurrence. If a person suffers from COVID-19 this will lead to further losses as recovery may take more than a month. Having a backup plan that can cover for expenses during such a time is important.

Why Us


Easy Claim Settlement Process

Our claim settlement process has 3 simple steps: i.e. Intimation of claim, Submission of documents & final step is a decision on the claim.


Winner of Multiple Accolades

Our term insurance plan Edelweiss Tokio Life – Zindagi Plus has won the ‘Innovative Product of the Year’ award at the Golden Star Awards 2018.

Steps to Buy an Insurance Plan Online



Step 1 >> Choose your plan

Edelweiss Tokio Life
Active Income

(Income Plan)

  • Regular Income Payout
  • Two Plan options
  • Tax Benefit
Buy Now

Edelweiss Tokio Life
Simply Protect

(Term Plan)

  • Cover up to the age of 80
  • Flexible Premium Paying Term
  • 4 life cover variants
Buy Now

Edelweiss Tokio Life
GCAP

(Endowment Plan)

  • Guaranteed Returns
  • Accrual Additions
  • Life Cover
Buy Now

Edelweiss Tokio Life Wealth Secure+

(ULIP)

  • Start saving at Rs.1000/month
  • Enhanced Family Protection
  • Flexible Policy Term
Buy Now

Step 2 >> Determine your life cover

It is usually suggested that a term life insurance cover should be at least 10 to 15 times of your annual income and 15 to 20 times is an even be. If you have loans such as home loans, car loans, etc. then you should factor that in too.


You can use this simple formula to determine your ideal life cover:
Life Cover = [10 x annual income + total outstanding loans + other liabilities]

For instance, if your annual income is ₹ 15 Lakhs, it is ideal to buy term life insurance cover of at least ₹1.5 Crore, assuming that you do not have other liabilities. In case you have a home loan of ₹50 lakhs, include this amount in your life cover.

Step 3 >> Calculate your premium

The cost of term plan varies depending on various factors such as age, annual income, the amount and tenure of insurance coverage, health condition and whether you are a smoker/non-smoker. For example, for a 30-year-old single male, non-smoker for a policy term of 20 years with ₹1 crore life cover, the annual premium is ₹6202.
Click here to calculate your premium.

Step 4 >> Make Payment

You can opt from monthly, half-yearly or yearly mode of payment and choose from a list of payment options such as:

  • Credit Card
  • Debit Card
  • Netbanking
  • Online Wallets
Step 5 >> Fill the proposal form

You will be asked to fill out the proposal form with your details.

Step 6 >> Submission of documents

You will have to submit the following or more KYC documents for issuance of policy:

  • Proof of name
  • Proof of address
  • Identification and photo
  • Income proof