Covid Shield+ Your Financial Shield against Coronavirus

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Your Financial Shield against Coronavirus

Introducing a life insurance plan for your financial security during the COVID-19 pandemic.

Edelweiss Tokio Life - COVID Shield+ is a newly launched plan offering insurance coverage for coronavirus disease or COVID-19. COVID Shield+ has been specifically designed to cater to the financial expenses caused due to COVID-19. The treatment for COVID-19 can require lakhs of rupees and lack of proper medical care could also lead to fatalities. In a situation like this, it is best to be prepared financially to secure your family’s future.

COVID Shield+ offers you insurance covering coronavirus disease, which can be of great relief if you are diagnosed with COVID-19 and your symptoms are critical. You will also have the peace of mind that if God forbid, your Coronavirus infection turns out to be fatal, your family will still be financially protected with an insurance policy for COVID-19.

Let's look at the case of Raj.


    Raj recently celebrated his 32nd birthday. He lives with his wife, son, and retired parents. Things were going fine for Raj and his family until the world was introduced to the novel Coronavirus. It started infecting people on a very large scale and soon turned into a full-blown global pandemic.

    Raj recently celebrated his 32nd birthday. He lives with his wife, son, and retired parents. Things were going fine for Raj and his family until the world was introduced to the novel Coronavirus. It started infecting people on a very large scale and soon turned into a full-blown global pandemic.

    A few days into this pandemic, Raj's friend, Anand, and his entire family fell prey to COVID-19. That's when Raj realised that fighting COVID-19 infection was one thing, but the expenses associated with were a whole new concern. It could involve ICU and ventilator costs. So, to safeguard himself and his family financially, Raj started hunting for the best Coronavirus insurance plan.

    A few days into this pandemic, Raj's friend, Anand, and his entire family fell prey to COVID-19. That's when Raj realised that fighting COVID-19 infection was one thing, but the expenses associated with were a whole new concern. It could involve ICU and ventilator costs. So, to safeguard himself and his family financially, Raj started hunting for the best Coronavirus insurance plan.

    Raj came across Edelweiss Tokio Life – COVID Shield+ and was impressed by the plan's unique benefits. There was also no need to step out of his house for medicals! By opting for COVID Shield+, Raj would be financially secure if affected by COVID-19. He would not have to worry about hospital bills and allied expenses. To top it up, he gets a life cover and tax benefits!

    Raj came across Edelweiss Tokio Life – COVID Shield+ and was impressed by the plan's unique benefits. There was also no need to step out of his house for medicals! By opting for COVID Shield+, Raj would be financially secure if affected by COVID-19. He would not have to worry about hospital bills and allied expenses. To top it up, he gets a life cover and tax benefits!

Check out our features

Shield your family financially, even amidst COVID

Term Trigger Benefit

Term Trigger Benefit

Our COVID-19 insurance policy is highly beneficial. If you are diagnosed with COVID-19, additional life cover with Enhanced Sum Assured will commence for the remaining policy term. Under this benefit, in case of your death during the policy term due to any reason after the Term Trigger Benefit has commenced on the diagnosis of COVID-19, 100% of ‘Enhanced Sum Assured’ plus ‘Base Sum Assured’ would be payable to the nominee and the policy will terminate. Life cover under Term Trigger Benefit will commence only if the diagnosis of COVID-19 is after the applicable waiting period.

Term Trigger Benefit

Get Enhanced Sum Assured + Base Sum Assured, in case of death due to any reason, post diagnosis of COVID-19. In case of non COVID claims, Base Sum Assured is paid.

Term Trigger Benefit

Term Trigger Benefit

Our COVID-19 insurance policy is highly beneficial. If you are diagnosed with COVID-19, additional life cover with Enhanced Sum Assured will commence for the remaining policy term. Under this benefit, in case of your death during the policy term due to any reason after the Term Trigger Benefit has commenced on the diagnosis of COVID-19, 100% of ‘Enhanced Sum Assured’ plus ‘Base Sum Assured’ would be payable to the nominee and the policy will terminate. Life cover under Term Trigger Benefit will commence only if the diagnosis of COVID-19 is after the applicable waiting period.

Critical Illness Benefit

Get lump sum benefit for admission into ICU/HDU, post COVID-19 diagnosis, irrespective of actual expenses occurred.

Critical Illness Benefit

Critical Illness Benefit

Under the Critical Illness Benefit, if you are admitted to ICU (Intensive Care Unit) or HDU (High Dependency Unit) post diagnosis of COVID-19 for treatment of severe symptoms during the policy term, 40% of the Enhanced Sum Assured of our COVID-19 insurance policy will be payable as a lump sum. The hospitalization should be at one of the designated hospitals only. This benefit will be paid only once during the policy term.

Quick Buy

No need to step out of your house for any medical tests. Quick decisioning on policy.

Quick Buy

Quick Buy

We understand that it is unsafe to step out of the house and visit a laboratory to get your medicals done for the policy to be issued. The policy is issued quickly without any compulsion of a medical test.

Tax Benefits

Get tax benefits by paying a one-time premium.

Tax Benefits

Tax Benefits

You may be eligible for tax benefits with our COVID-19 insurance policy as per applicable tax laws. Tax benefits are subject to change in the tax laws. Kindly consult your tax advisor for detailed information on tax benefits/implications.

One-Year Policy Term

Policy term lasts for just one year to specifically provide COVID protection.

One-Year Policy Term

One-Year Policy Term

Since COVID Shield+ is a plan that caters to the need of being financially protected against COVID-19, this insurance policy for COVID-19 will be terminated after one year. You need to make just a one-time premium payment, and you are financially shielded from Coronavirus!

Check if you are eligible for this product

Here are the rules! Ask us if any doubts.

What is the minimum and maximum policy term?
There is only one policy term
There is only one policy term – one year.
Is there a free-look period available?
You may return this Policy to us
You may return this Policy to us within 15 days of receipt of the policy and period of 30 days in case of electronic Policies and Policies obtained through distance mode if you disagree with any of the terms and conditions by giving us written reasons for your objection. We will refund the premium received after deducting stamp duty charges, proportionate risk premium for the period of cover and medical expenses (if any).
What will happen if Life Insured is admitted in ICU and dies due to COVID-19?
If Life Insured is admitted to ICU
If Life Insured is admitted to ICU or HDU following diagnosis of corona virus and subsequently the Life Insured dies during the policy term, both Critical Illness Benefit and Term Trigger Benefit (i.e. 140% of the Enhanced Sum Assured plus ‘Base Sum Assured’) will be payable.
What is the lump sum pay out?
If you are admitted to ICU (intensive care unit)
If you are admitted to ICU (intensive care unit) or HDU (High Dependency Unit) post diagnosis of COVID-19 for management of severe Covid-19 disease during the policy term, 40% of the Enhanced Sum Assured will be payable in lumpsum. This lump sum will be payable only if diagnosis of corona virus is after the applicable waiting period. The hospitalization should be at one of the designated hospitals only. This benefit will be paid only once during the policy term.
Will I receive I lump sum on any kind of hospitalization cover post COVID-19 diagnosis?
Under the Critical Illness Benefit, lump sum pay-ou
Under the Critical Illness Benefit, lump sum pay-out is applicable only when the policyholder is admitted to ICU (intensive care unit) or HDU (High Dependency Unit), post COVID-19 diagnosis for management of severe COVID-19 disease during the policy term.
What is a COVID-19 Insurance Plan?
A COVID-19 insurance policy is a policy that provides an individual and his/her family

A COVID-19 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 Corona virus and cover death caused due to the disease.

Why do I need a COVID-19 Insurance Policy?
A Corona virus Life Insurance Plan is the need of the hour

A Corona virus Life Insurance Plan is the need of the hour for every individual given the rapid increase of this disease. Corona virus can cause serious health complications and even be fatal in certain cases. It is important to protect yourself and your family from the expenses that can arise after diagnosis of COVID-19.

Why Edelweiss Tokio Life – COVID Shield+?
Edelweiss Tokio Life – COVID Shield+ is a life insurance plan

Edelweiss Tokio Life – COVID Shield+ is a life insurance plan designed to provide financial protection to you and to your family. It not only provides a death benefit but also provides a financial protection against corona virus by paying a lumpsum amount. This will ensure that you and your family get the required support to manage their day-to-day expenses as well as your treatment expenses.

Is there a need to undergo medicals for this plan?
No, you do not need

No, you do not need to undergo any medicals to buy this plan.

What is the minimum and maximum entry age? / Who is eligible to buy this plan?
The minimum entry age is

The minimum entry age is 18 years and the maximum entry age is 65 years.

What is the minimum and maximum maturity age?
The minimum maturity age

The minimum maturity age is 19 years and the maximum maturity age is 66 years.

Is this a COVID Insurance Plan for senior citizens?
Individuals up to the age of 65
Individuals up to the age of 65 years can buy this COVID Insurance Plan.
Are premiums eligible of tax benefits?
Yes, the single premium
Yes, the single premium is eligible for tax benefits u/s 80 (c). Tax benefits are subject to changes in tax laws.
How long will I get the cover for?
The life cover will last
The life cover will last for one year from the date of policy issuance.
What are the premium paying terms?
The premium paying term...
The premium paying term is Single Pay.
How often can I pay my premium(s)?
The COVID insurance premium
The COVID insurance premium can be paid only once while buying the policy.
What is the Base Sum Assured?
Base Sum Assured
Base Sum Assured is 1.25 times the Single Premium amount
What is Term Trigger Benefit?
If you are diagnosed with corona virus, additional life cover
If you are diagnosed with corona virus, additional life cover with Enhanced Sum Assured will commence for the remaining policy term. Under this benefit, in case of your death during the policy term due to any reason after the Term Trigger Benefit has commenced on diagnosis of COVID-19, 100% of ‘Enhanced Sum Assured’ plus ‘Base Sum Assured’ would be payable to the nominee and the policy will terminate. Life cover under Term Trigger Benefit will commence only if diagnosis of COVID-19 is after the applicable waiting period.
What is Critical Illness Benefit?
If you are admitted to ICU (intensive care unit)
If you are admitted to ICU (intensive care unit) or HDU (High Dependency Unit) post diagnosis of COVID-19 for management of severe Covid-19 disease during the policy term, 40% of the Enhanced Sum Assured will be payable in lumpsum. Critical Illness Benefit will be payable only if diagnosis of COVID-19 is after the applicable waiting period. The hospitalization should be at one of the designated hospitals only. This benefit will be paid only once during the policy term.
What is the Enhanced Sum Assured?
Enhanced Sum Assured must be chosen
Enhanced Sum Assured must be chosen at the start of the policy term. It is the additional pay out that the nominee will receive if the policyholder passes away due to COVID-19. Minimum Enhanced Sum Assured is ¿25,00,000 and Maximum Enhanced Sum Assured is ¿50,00,000.
Is there a Waiting Period?
Waiting period means the period of 30
Waiting period means the period of 30 calendar days from the policy commencement date during which if admission to ICU/HDU occurs or death occurs, due to COVID 19, Critical Illness Benefit and Term Trigger Benefit will not be paid.
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