As a financial institution, the loans that you lend help people fulfil their dreams. However, if something would happen to them, their loan repayment may get stuck and you would be left with liabilities. So, a group credit insurance plan is ideal to protect the lender’s interests. Though you take necessary measures for recovery, you also need to insure your lent assets against non-payment by the borrower, on his/her death.
Edelweiss Tokio Life – Group Total Secure is designed to provide a comprehensive cover against death, disability, illness to the members of the Master Policyholder.
It provides multiple plan options, coverage types, additional benefits & premium paying options to select from.
The minimum group size to opt for this plan is of 50 members.
The minimum entry age as per last birthday is 14 years and the maximum entry age as per last birthday is 70 years.
The minimum maturity age as per last birthday is 20 years and the maximum maturity age as per last birthday is 80 years.
The minimum and maximum coverage terms are 2 and 35 years respectively.
The minimum and maximum sum assured are Rs. 5,000 and Rs. 1 crore respectively.
The premium paying options are single pay, limited pay and regular pay. You can pay the premiums annually, semi-annually, quarterly and monthly.
Terminal Illness means an advanced or rapidly progressing incurable disease, wherein according to the opinion of two appropriate independent Medical Practitioners, the insured member’s life expectancy is no greater than six months from the date of notification of claim. S/he must not be receiving any form of treatment other than palliative medication for symptomatic relief.
Accidental Death refers to death within 180 days of any bodily Injury caused due to an Accident and independent of any other causes.
Total and Permanent Disability Benefit means disablement for an uninterrupted period of 180 days, caused due to Accident or sickness.
There are 16 critical illnesses covered under the Critical Illness Benefit option:
1. Open Chest CABG
2. Myocardial Infarction (First Heart Attack - of Specified Severity)
3. Open Heart Replacement OR Repair of Heart Valves
4. Kidney Failure Requiring Regular Dialysis
5. Major Organ / Bone Marrow Transplant
6. Stroke Resulting in Permanent Symptoms
7. Aorta Surgery
8. Permanent Paralysis of Limbs
9. Coma of Specified Severity
10. Third Degree Burns
11. Blindness
12. Aplastic Anaemia
13. Cancer of Specified Severity
14. Benign Brain Tumor
15. Motor Neurone Disease with Permanent Symptoms
16. Multiple Sclerosis with Persisting Symptoms
Yes, this plan has a surrender value for Single pay and Limited pay options.
No, Maturity Benefit is not payable in this plan.
Yes, a Free Look period of 15 days is available.
In case of death due to suicide within 12 months from the date of commencement of risk or from the date of revival of coverage, the beneficiary shall be entitled to at least 80% of the total premiums paid, provided the coverage is in force.
Grace period of 15 days for monthly premium paying frequency and 30 days for all other premium paying frequencies is applicable.
For queries, write to onlinesales@edelweisstokio.in
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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.
*6- Additional benefits are available at extra cost.
Edelweiss Tokio Life – Group Total Secure is only the name of a Group, Non-Linked, Non-Par, Pure Risk Premium, Life, Credit Insurance Product and does not in any way indicate the quality of the plan, its future prospects or returns. Please know the associated risks and the applicable charges from your Personal Financial Advisor or the Intermediary. 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: 147N059V02.
ARN: WP/1420/Feb/2021