Life Insurance Plans

Need for life insurance is not just getting financial security to your family in the event of your unfortunate demise, but also a peace of mind in terms of the post-retirement life sustenance. The money accrued through a life insurance policy can be used to settle liabilities and take care of the family’s lifestyle. The corpus can also be utilized to finance your children’s education and other needs.

Edelweiss Tokio offers different types of life insurance policies from which you can choose the best suitable one as per your needs. Here is the list of what you can purchase from us-

There are several life insurance benefits that you can avail by purchasing the best suitable policy.

The average life insurance cost per month is subject to the plan you choose to buy. Term insurance is the most affordable type, and life insurance premium cost for this plan is around Rs. 600 per month for the life cover of Rs. 1 Cr for a 30 year old male. The premium cost also differs basis the life insurance amount you choose, i.e., the sum assured. Since all the policies, except term plans, offer cash-value benefits; the factors influencing the premium amount can be enlisted as-

Usually, premiums of the life insurance policy include all the processing fees and charges such as premium allocation charges, fund management fees, paperwork, etc.

There is no specific age to buy a life insurance policy as there is nothing precious than life. However, it is more important to secure your loved ones' financial future if they were to live without you. The early you buy the life insurance policy, the more corpuses you can accrue.

The process of claim settlement consists of three necessary steps.

On the demise of the life insured, in this case, to be specific- you; the family needs to inform us or the insurance company from which the life insurance policy had been purchased.

The proofs of the demise need to be provided to the insurer in terms of the death certificate or any equivalent document if required.

The insurance company then analyses the proofs submitted by the family, checks whether the claim made fulfills the policy terms and then insurance claim settlement happens by paying sum assured plus bonuses, along with return on investments.

Life insurance claim settlement is increasing nowadays, as awareness is being created to disclose all the facts related to health and habits.

There are usually a few cases that are not covered under the base life policy. Here, life insurance riders help you get additional coverage against certain events.

What are the riders? It is nothing but a provision that helps people meeting specific or additional insurance needs at some extra premium. Usually, critical illnesses, permanent or partial disability etc. are not covered under the base plan. In such cases, riders help you get total coverage including a list of critical illnesses and partial disability occurring due to multiple accidents. The accidental death benefit or waiver of the premium rider also helps a lot in case of the unfortunate demise of the insured person or if he/she meets any severe accident, resulting in disability. In such cases, regular income needs to be processed to sustain the lifestyle of the insured’s family.