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4 Reasons Why Protecting Your Family Can Be Really Simple

  • Your pockets won’t cry while paying for this plan!

    Affordable things like a plate of momos and cutting chai make our day! That’s why we made this an affordable life insurance plan.

  • Choose from 4 simple plan options

    Yes, we know, it's confusing to go through too many choices in plans. So, we sorted ours out for you into 4 simple choices!

  • The Big 8-0

    Get excited for the future as your life cover lasts till your 80 with the Edelweiss Tokio Life Simply Protect!

  • We’re offering discounts¹ on higher covers

    Reach for the stars and get rewarded! Get higher discounts when you opt for a higher sum assured.

Benefits of Simply Protect

4 Plan Options

Life Cover

Start your Life Insurance journey on the right note with the simple Life Cover option. This is a base variant that will give your nominee the sum assured in the form of a lump sum or through the income benefit depending on the payout option chosen.

Life Cover with Inbuilt Accidental Death Benefit

Disaster can strike at anytime and anywhere. That is why we have designed this option to put in place measures that will give your nominee an additional sum / payout, along with the assured payout in case of an unfortunate accident.

Life Cover with Inbuilt Waiver of Premiums on Accident Total and Permanent Disability

Life can be uncertain sometimes, but with this option, you can be better prepared for it. Under this option, all your future premiums are waived off if you’re diagnosed with a permanent disability due to an accident.

Life Cover Plan Inbuilt Waiver of Premium in case of Critical Illness

Unfortunate times often creep up unannounced, so it’s always better to err on the side of caution. By choosing this option, you can have all your future premiums waived off, if you get diagnosed with one of 12 listed critical illnesses, including Heart Attack, Stroke, Cancer, Kidney Failure.

Start Your Journey Of Simple Protection

1

Pick your favorite from the four

  • Life Cover
  • Life Cover with Inbuilt Accidental Death Benefit
  • Life Cover with Inbuilt Waiver of Premiums on Accident Total and Permanent Disability
  • Life Cover with Inbuilt Waiver of Premium in case of Critical Illness
2

Select the preferred Sum Assured

  • You can start small or big.
  • According to industry experts, you should have a life insurance cover that is approximately equal to 20 times your annual income.
3

Get, Set, Customize!

  • Pick your preferred Premium payment mode
  • Pick your preferred Policy term
  • Pick your preferred Payout options
4

Let us do our part

  • Submit the requested documents
  • Let us verify your details and greenlight your plan!

Protect Your Life With Simply Protect

Rohan protected his family with a cover of

and his policy term is

He will be paying

annually for this plan.

Premium pay till
Total Cover
Policy Term

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    Fire Away Queries

    Like teachers say, there are no silly questions

    What is a term insurance plan?

    Every increase in your income leads to an enhanced lifestyle for you and your family. It is important that this financial support is secured in case of an unfortunate event. A term insurance plan ensures that in a scenario where the breadwinner is no more, his/her dependents are provided the financial support required to maintain their lifestyle.

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    Why do I need a limited pay term insurance plan?

    With a limited pay term insurance plan, you get the freedom to pay off your premiums within a shorter duration. The premium payment term can range from 5, 7, 10, 15 and 20 years. This will allow you to pay off your insurance premiums well before your retirement age and enjoy a hassle-free retired life. Also, the cumulative premium paid with a Limited Pay plan, is lesser than the cumulative premium otherwise.

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    Why should I opt for Edelweiss Tokio Life – Simply Protect?

    Securing your family’s financial future should be simple. A low-cost term plan like this, ensures that in the unfortunate event of your death, your family gets the requisite financial support to maintain their lifestyle in the same manner that you would have provided for them.

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    Does this plan cover COVID-19 claims?

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

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    What are the different plan variants?

    There are 4 variants offered with this plan. These include Life Cover - the basic variation, Life Cover with Accidental Death Benefit - the variation with the benefit that offers a pay-out in case of death by accident, Life Cover with Inbuilt Waiver of Premiums on Accident Total and Permanent Disability- the variation that waives off future premium payments in case of permanent disability and Life Cover with Waiver of Life Cover with Inbuilt Waiver of Premiums on Critical Illnesss - the variation that waives off payment of future premiums in case of a critical illness diagnosis.

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    What is the minimum and maximum policy term?

    For most variants, the policy term lasts between 10 to 40 years. In case you have opted for the plan that gives you coverage up to age 80 years, your policy will last for 62 years.

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    How long do I need to pay my premiums and at what frequency?

    For a Regular Pay option, you need to pay your premiums for the same duration as that of your policy term. For the Limited Pay option, you can choose to pay premiums in 5, 10, 15 or 20 years. There are two premium payment frequencies offered -Annual Mode (yearly payment) or a Single Mode (one-time payment). 

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    What is the minimum and maximum sum assured?

    The minimum sum assured is Rs. 25,00,000. As for the maximum amount, there is no defined upper limit. It will be subject to Board-approved underwriting policy on the basis of your age & income.

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    What is the maximum maturity age of this policy?

    The maximum maturity age is 80 years.

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    When is the minimum and maximum age to get this policy?

    The minimum entry age for this policy is 18 years and the maximum policy term will be 62 years.

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    Are there any discounts available?

    Depending on factors like the Sum Assured, Policy Term and Premium Paying Term, we offer discounts on premiums. Attractive premiums are offered for a higher Sum Assured.

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    Does the plan come with any Riders?

    There are no Riders available for this plan. Since this plan comes with various inbuilt benefits, there are no additional riders for it.

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    What are the pay-out options?

    The pay-out options for getting the Sum Assured are through the Lump sum Option - that offers pay-out in the form of a lump sum payment & Income Benefit Option

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    What is the Income Benefit Option in this plan?

    Under this option, every month 1% of your sum assured will be given to you. This will last for 130 months and will begin from the policy anniversary month following the date of death.

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    What are the 12 critical illnesses covered in this plan?

    The following 12 critical illnesses are covered in the Life Cover with Waiver of Future Premiums Payable on Critical Illness:

    1. Cancer of Specified Severity
    2. Open Chest CABG
    3. Myocardial Infarction (First Heart Attack of Specified Severity)
    4. Open Heart Replacement or Repair of Heart Valves
    5. Kidney Failure Requiring Regular Dialysis
    6. Third Degree Burns
    7.  Major Organ / Bone Marrow Transplant
    8. Permanent Paralysis of Limbs
    9. Stroke (Resulting in Permanent Symptoms)
    10. Surgery of aorta
    11. Coma of Specified Severity
    12. Blindness
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    Are there any Exclusions to the Life Cover Benefit?

    In case of death due to suicide within 12 months from the Risk Commencement Date or from the date of Revival of the policy, your Nominee or the Beneficiary shall be entitled to at least 80% of the total Premiums paid, provided the Policy is in force.

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    What is the Grace Period offered?

    Grace Period for this plan is 30 days. The policy will remain in force during the grace period without losing out on continuity benefits like waiting periods and coverage of pre-existing diseases. Coverage is not available for the period for which no premium is received. If any premium goes unpaid at the end of the grace period, the policy shall lapse.

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    What is the Free Look Period offered?

    The Free Look Period offered is 15 days from the date of receiving your policy. For policies sold through distance marketing, the free look period is of 30 days.

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    Additional Resources

    3- As per provisions of Income Tax Act, 1961. Tax benefits are subject to changes in tax laws.

    4- Discount for large Sum Assured is available depending on the Sum Assured, policy term and premium paying term.

     

    Edelweiss Tokio Life – Simply Protect is only the name of an Individual, Non-Linked, Non-Par, Pure Risk Premium, Life 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 Us. 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: 147N035V02

    ARN: WP/1427/Feb/2021

     

     

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