You can accommodate new employees into your existing plan. Similarly, you have measures in place when employees leave.
This is a hassle-free plan as the members need not go through a medical test in order to be a part of it.
Flexibility to choose a flat cover or a cover which is graded according to designation, salary or any other parameter of your choice.
You can enhance the plan’s offerings by opting for Riders - Group Critical Illness Rider or Group Extended Critical Illness Rider.
When you opt for the Life Cover, you can add your employees’ spouse to the plan and provide them cover as well.
Choose apne pasand ka cover! This plan offers 2 life cover options - Death Benefit and Death Benefit with Terminal Illness. If you opt for the latter, in case of occurrence of a terminal illness, a part of the Sum Assured maximum of Rs. 50 lacs will be paid. The remaining will be paid up on demise.
Get the coverage that suits your needs! With this plan, you can customize the coverage for your employees according to various parameters. You can either choose a flat coverage across all or allocate it as per designation, salary or any other criteria of your choice.
Your calculations, sorted! This plan gives you the freedom to add or subtract members from it. New members can be added during policy year by prorated premium. In case of member deletions, the prorated premium amount will be refunded to you. The risk will also cease from the date of member exit.
We too love things hassle-free! With this plan, you can get a life cover without any medical tests. This ensures quick decision making on the policy.
Enhance your plan! This plan offers optional benefits for your employees at a nominal extra cost, in the form of Riders - Group Critical Illness Rider and Group Extended Critical Illness Rider which cover 6 & 12 critical illnesses respectively. By opting for these, you can boost your plan’s offerings to suit your employees’ needs better at nominal extra cost.
Employer – Employee Benefits³
We love win-win’s. This plan covers the members even beyond working hours, no matter where they are in the world. Benefits received by employees are not taxable³. For the employer, premiums paid are deductible as a business expense.
Give loans without worries! This plan offers special features for financial institutions. It protects against loan/credit liability in case of an unfortunate demise of the borrower. It also offers a feature that covers the members financial objectives by ensuring continuity of their financial plans.
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I always discouraged my husband from buying this term plan because I thought what could happen to a 38 year old physically fit man suddenly? After he left, I found a policy in his drawer. Receiving the full amount of the sum assured meant a secure future for my 10 and 4 year old boys. You guys have been so co-operative, and I applaud Edelweiss Tokio Life for being so supportive.
I wanted to pen this email to echo my appreciation for the quality of service I experienced from Edelweiss Tokio Insurance. I had submitted an insurance claim for the demise of my spouse and in a matter of less than 1 week, the claim was settled. The paper work was smooth and your representative came and collected the documents when it was raining heavily in Mumbai. I very much appreciate the quality of your service, my huge thanks to associates who made this possible.
Timely followup and detailed information of staff helped me in buying the term plan and criti care plus. Got the term plan very quickly and hassle free.
Edelweiss Tokio has very good plans where insured is not covered for his untimely death but his loved ones are protected with benefits even after insured is no longer alive. Further, their claim process is extremely hassle free and quick. Their personal touch in ensuring my claim is processed makes them different from other life insurance companies.
I purchased the insurance policy from edelweiss with better rates as comparable to other companies , so it makes a remarkable and optimum benchmark for all the interested policy buyers
As an employer, you would like to cover your employees in case they meet any unprecedented situation in their lives, such as terminal illness and/or demise. Therefore, a group employee insurance plan enables you to provide financial security to the family members of your employees, in case they encounter any such eventuality.
Edelweiss Tokio Life Group Life Protection is a one-year renewable life insurance product,
designed to provide financial security to the family of the members under the group policy. The Group is insured against any unfortunate event such as death and/or terminal illness. The policy covers the member even beyond working hours and anywhere in the world. Additionally, it has special features for financial institutions.
Yes, this plan covers death due to COVID-19.
The minimum group size required to enroll for this plan is of 50 members.
The minimum and maximum entry ages as per the last birthdays are 16 and 80 years respectively.
The maximum maturity age as per last birthday is 81 years.
Both the minimum and maximum policy terms are of 1 year, as this is a one-year renewable group life insurance plan.
The minimum sum assured is Rs. 1,000 per member. For the maximum sum assured, there is no defined upper limit, as it will be subject to Board-approved underwriting policy.
You can make your premium payments annually, semi-annually, quarterly or monthly.
Terminal Illness refers to any condition from which an insured member is suffering, which in the opinion of two Registered Medical Practitioners specializing in the relevant field of medicine and appointed by the Company, is likely to lead to death / loss of life within six months.
A rider is an additional benefit you can opt for, to enhance your plan.
For this plan, you can choose between Group Critical Illness Rider and Group Extended Critical Illness Rider.
This plan provides some special benefits for financial institutions. It protects against loan/credit liability in case of an unfortunate demise of the loan/liability holder by ensuring that the dependents are not burdened with the loan/liability amount. Also, this policy offers a feature that covers the members’ financial objectives by ensuring continuity of their financial plans.
Yes, there is a Spouse Cover benefit, which you can avail if you are opting for Option I: Death Benefit.
The convertibility option allows a group member to purchase a replacement death cover with Edelweiss Tokio Life Insurance Company Limited, under an individual policy, subject to our premium rates, terms and conditions available at that time.
Yes, this plan has a surrender value.
As it is a term life insurance plan, no benefits are payable on maturity.
This plan offers a free look period of 15 days and 30 days if obtained through distance mode.
In case of death due to suicide within 12 months from the date of risk commencement or the date of revival, the beneficiary shall be entitled to at least 80% of the total premiums paid, provided the coverage is in force.
If the annual premium payment mode is chosen, grace period is not available for single payment. Ifhalf-yearly and quarterly modes are chosen, the grace period offered is of 30 days. Lastly, if the monthly payment mode is chosen, the grace period offered is of 15 days.
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0-Provided the premium paying term is more than or equal to 10 years.
1- This is applicable only if all due premiums are paid and the policy is inforce.
2- Policy loan are subject to terms & conditions of the product. Refer product brochure for more details.
3- As per provisions of Income Tax Act, 1961. Tax benefits are subject to changes in tax laws.
9- Riders are available at extra cost.
Edelweiss Tokio Life - Group Life Protection is only the name of a Group, Non-Linked, Non-Par, Life, Pure Risk Premium One Year Renewable Insurance Product and does not in any way indicate the quality of the contract, its future prospects, or returns. Please know the associated risks and the applicable charges from your Financial Advisor. Tax benefits are subject to changes in the tax laws. For more details on risk factors and terms and conditions, please read sales brochure carefully before concluding a sale.
IRDAI Reg. No.: 147. CIN: U66010MH2009PLC197336. UIN: 147N008V05
ARN No : WP/1414/Feb/2021