Edelweiss Tokio Life – Gramin Bima is designed to provide life cover with premiums starting at Rs.25. The plan broadly offers to cover the members or customers of Micro Finance Institutions, District Co-operative Banks, Self Help Groups, Non-Banking Financial Companies, Regional Rural Banks, NGOs or any other homogenous groups. Through this plan, the master policyholder can help its members to secure the financial future of their family in case of an unfortunate demise of the member.

Yes, this plan covers death due to COVID-19.

You can opt for this plan with a group size as small as of 5 people.

 The minimum and maximum entry ages are 18 years and 60 years respectively.

 The minimum and maximum maturity ages are 19 years and 67 years respectively.

The minimum coverage term for Single Pay is 12 months and Regular Pay is 60 months. The maximum coverage term for both these options are 84 months .

If you’ve opted for Single pay, you’ve to pay your premium only once. However, if you’ve chosen Regular pay, you’ve to pay your premium till the end of Coverage Term. You can pay these on annual, half-yearly, quarterly and monthly basis.

The minimum and maximum sum assured are Rs. 1,000 and Rs. 2 lacs respectively to be chosen at inception

The minimum premium amounts for both Single and Regular pay options are as low as Rs. 25 per member. The maximum premium is subject to Board approved underwriting policy.

 As this is a pure term plan, no maturity benefit is payable under this plan.

Yes, there is a free look period of 15 days from the date of the receipt of the policy document. Policies sold through Distance Marketing will have a free look period for 30 days.

Single Life: In case of death due to suicide within 12 months from the date of commencement of risk for the individual member or from the date of revival of coverage for individual member, as applicable, the nominee or beneficiary of the individual member shall be entitled to at least 80% of the total premiums paid till the date of death or the Unexpired Risk Premium Value available as on the date of death whichever is higher, provided the coverage is in force.

Joint Life: In case of death of either or both of the lives insured due to suicide, within 12 months from the date of commencement of risk or from the date of revival of coverage, as applicable, the surviving life insured or the nominee or the beneficiary of the policyholder shall be entitled to at least 80% of the total premiums paid till the date of death or the Unexpired Risk Premium Value available as on the date of death whichever is higher, provided the coverage is in force and the coverage will be terminated for both the lives insured.

A grace period of 15 days is offered for monthly mode premium paying frequency and 30 days for other Premium Paying Frequencies from the Premium Paying Due Date.