Edelweiss Life Insurance

Why Buy From Edelweiss Life Insurance?

You should buy from Edelweiss Life Insurance because the company had a 99.20% claim settlement ratio (sourced from the company’s official website) in FY 2023, which indicates that the insurer settled most of the claim requests received in the financial year. The company has a strong pan-India presence with around 131 branches and over 84K agents. Edelweiss Life Insurance strives to achieve success by focussing on the following factors:

• Quality: Edelweiss Life Insurance Company aims to provide quality through its products, services, advice, and interactions.

• Cost-conscious: The company offers several plans to ensure people of all economic backgrounds can secure their loved ones.

• Customer Centric: The company understands its customers’ needs and optimises its plans to fit their requirements. 

What are the Benefits of Edelweiss Life Insurance?

Here is a list of benefits of buying an Edelweiss life insurance plan:

• Affordable Premiums: Edelweiss Life offers several life insurance plans, such as term insurance, with extensive life coverage at affordable premiums.

• Financial Protection: These plans secure the future of your loved ones by providing them with a selected death benefit to help them meet their financial needs.

• Create a Corpus: You can easily create a corpus with Edelweiss life insurance plan by choosing the funds you want your money invested in, according to your risk appetite.

• High Claim Settlement Ratio: Edelweiss Life Insurance has a high claim settlement ratio, which indicates that the company has settled most of the claims received and is thus a reliable insurer.

• Easy Purchase Process: You can easily buy life insurance plans from Edelweiss Life from the comfort of your home, anytime, anywhere.

Edelweiss Life Term Plans

These are pure term life insurance plans, basically, pure-risk term insurance plans that aim to provide families with financial protection in case of the policyholder's unfortunate demise. With these plans, families can secure their loved ones with high coverage at nominal premium rates.

1. Edelweiss Life Zindagi Protect

   • Choose between life cover or return of premium cover options

   • Select better half benefit at additional premiums to cover your spouse

   • Pay the premiums in limited or regular premium payment term

   • Skip up to 8 premium payments, with the Premium Break option depending on the premium payment term

   • Add the Child’s Future Benefit at additional premiums to enhance life cover till the child turns 25 years of age

2. Edelweiss Life Saral Jeevan Bima

   • Choose to pay the premiums in regular, single, or limited pay for 5 or 10 years

   • Financially cover your family for the entire policy term at affordable premiums

   • The plan covers death due to COVID-19 as well

   • Choose to stay covered under this plan for 5 to 40 years

   • Select a life cover from 5 to 25 Lakhs for the family’s financial needs

Edelweiss Life Wealth Creation Plans

Edelweiss offers wealth creation plans, which provide life cover and tax benefits on the amount you pay and subsequent returns.

1. Edelweiss Life Wealth Secure +

   • The plan offers death benefits to your family on the untimely death of the policyholder

   • Enhanced protection for your child in case of your untimely death

   • Get fund additions as per loyalty, booster, and maturity additions

   • Choose from 7 fund options with unlimited switches and a self-managed strategy

   • Option to cover your spouse under the same plan with the joint cover 

2. Edelweiss Life Wealth Rise +

   • The plan offers two variants and allows the policyholders to choose as per their needs.

   • The plan offers financial cushion to the family of the policyholder in case of their unfortunate death

   • Boost of fund value at regular intervals during the policy term

   • The policyholder can select a Systematic Withdrawal Plan (SWP) under the Base Cover Plan by choosing the withdrawal percentage, payout frequency, and start year.

   • Choose from two investment strategies based on your risk profile: self-managed or Life Stage and duration-based.

3. Edelweiss Life Wealth Gain +

   • A percentage of your fund value is added back to maximize your savings as loyalty and booster additions

   • If the policyholders survive until the maturity date, the total Mortality Charges (excluding extra charges and taxes) will be added to your fund value

   • The plan offers two investment strategies to cater to various investment needs

   • Flexibility to choose your Premium payment term

   • With the Self-Managed Strategy, switch funds for free with a minimum of Rs. 5,000 per switch, while the Life Stage & Duration Strategy allows opt-in or opt-out anytime during the policy term

4. Edelweiss Life Wealth Premier

   • Ensures financial protection for the family in case of unfortunate demise of the policyholder

   • Provides 10 years of life cover with a single premium payment.

   • Offers 8 fund options with unlimited free switches.

   • Maximizes savings with additional allocations at the end of the 6th, 8th, and 10th policy years.

   • Provides an option to choose between Single Life and Joint Life cover.

5. Edelweiss Life Wealth Ultima

   • Edelweiss Life – Wealth Ultima includes SMP, STP, and SWP for flexible financial planning.

   • Various additions in the policy provide better returns.

   • Offers life cover that provides a lump sum to the beneficiary in case of the insured's demise.

   • Little Champ Benefit ensures the policy continues, providing benefits to the child if the policyholder dies.

   • Choose a Policy Term from 10 years to age 100 and a Premium Paying Term from 5 years to the end of the policy term.

Edelweiss Life Guaranteed Income Plans

Edelweiss Life Guaranteed Income Plans offer the dual advantage of life insurance and investment. These plans look after your family's financial needs and help you grow money to fulfill your future needs.

1. Edelweiss Life- Flexi Savings Plan

   • Ensure your family's financial security with comprehensive life insurance coverage.

   • Receive payouts annually at the end of each policy year.

   • You can select from various benefit types offered through three distinct plan options: Flexi-Income, Flexi-Income PRO, and Large Sum.

   • Secure your life beyond maturity with the Life Cover Continuation Benefit.

   • You can choose to start receiving income as early as the 2nd or 5th policy year or after the premium-paying term.

2. Edelweiss Life-Premier Guaranteed Star

   • Secure your family’s financial future with comprehensive life insurance coverage.

   • Achieve future goals with stable, assured returns in the form of income.

   • You can customize your plan with various policy options, premium payment terms, and a lump sum benefit at maturity.

   • Enhance your protection by adding riders for an additional premium.

   • Receive regular income benefit payouts starting from the third policy year after the completion of the premium payment term, continuing until maturity or the insured's death.

3. Edelweiss Life- Guaranteed Savings star

   • Secure your family’s financial future with life insurance coverage.

   • Choose between two plan options—Base and Enhanced Cover—to optimize your insurance and increase your death benefit.

   • Ensure your family’s dreams are met even in your absence or upon diagnosis of a covered critical illness with Family Income Benefits for an additional premium.

   • Achieve your future goals with guaranteed returns known from the beginning of the policy.

   • Enjoy tax benefits as per prevailing tax laws.

4. Edelweiss Life- GCAP

   • Gain extra benefits starting from the 9th policy year through Guaranteed Accrual Additions

   • Choose from multiple options of policy terms and premium-paying terms to align with your needs

   • Receive additional benefits for higher premiums

   • Enhance your coverage with various rider options and access a loan facility to address urgent liquidity needs

   • Avail loan benefits to meet liquidity needs

5. Edelweiss Life- Income Builder

   • Secure your family’s financial future through versatile life insurance coverage

   • Choose between regular income or a combination of regular and lump sum payouts to fulfill your future aspirations

   • Opt for the 'Secured Income' Plan Option to ensure your dreams are realized even in unforeseen circumstances

   • Select from two Maturity Benefit Options tailored to your preferences

   • Enjoy flexibility in receiving income on a date of the month that holds special significance and in aligning premium payments and income payouts with your financial goals

Edelweiss Life Retirement Plans

These plans offer financial security for your golden years with customizable annuity options. They provide a steady income stream post-retirement, ensuring peace of mind. Additionally, these plans provide guaranteed returns and protection against inflation to ensure you live peacefully after retirement.

1. Edelweiss Life Cashflow Protection Plus Plan

   • Get guaranteed income and protection until age 100

   • Receive a lump sum at the end of the premium payment term through a reversionary bonus if declared

   • Earn higher returns through additional cash bonus, if declared, by sharing profits

   • Pay for your future needs with limited payment periods from your present income

   • Enjoy discounts for a higher Sum Assured on Maturity and access a loan facility for urgent liquidity needs

2. Edelweiss Life Easy Pension

   • Low Premium Allocation Charge and Guaranteed Loyalty Additions to enhance returns

   • Choose policy terms up to 85 years with flexible Premium Paying Terms.

   • Multiple premium payment options: single pay, limited pay, and regular pay.

   • Simple and easy to buy with minimal process and option to choose your risk strategy for fund allocation.

   • Automatic reallocation of your money to optimize retirement needs.

3. Edelweiss Life Forever Pension

   • Guaranteed regular annuity for life, providing stable income throughout your lifetime.

   • Wide range of annuity options to customize and suit your financial needs.

   • Option to return 100% of the purchase price or the balance purchase price under various circumstances.

   • Coverage for critical illness, accidental total, and permanent disability, or death with the return of purchase price option.

   • The plan offers Joint life coverage, allowing you to include a second life under the same annuity plan.

4. Edelweiss Saral Pension

   • Guaranteed regular annuity income for life.

   • Get a Life Annuity with a Return of 100% of the Purchase Price (ROP).

   • The plan offers a Joint Life Last Survivor Annuity with a Return of 100% of the Purchase Price (ROP) upon the death of the last survivor.

   • Flexibility to receive annuity payments in monthly, quarterly, half-yearly, or yearly modes.

   • Avail for a loan on the policy.

How To Buy Edelweiss Life Insurance Online in India?

Here is how you can buy Edelweiss Life insurance online in India:

Step 1: Visit the life insurance page

Step 2: Select the type of life insurance you want to buy

Step 3:Fill in the required details such as your name, gender, date of birth, and contact details

Step 4: Choose the right occupation type, educational qualification, smoking habits, and annual income

Step 5: Select the suitable policy and proceed to pay

What is the Edelweiss Life Insurance Claim Settlement Process?

Here is how Edelweiss Life insurance settles the claims

• Claim Initiation: The nominee needs to initiate the claim with Edelweiss Life Insurance Company promptly after the policyholder's death, attach all required documents, and submit the completed claim form to the insurer.

• Claim Verification: The insurer will verify the claim and the information in the claim form.

• Claim Settlement: Upon successful verification, the insurer will disburse the claim amount to the nominee's bank account.

Edelweiss Life Insurance - FAQs