Edelweiss Tokio ULIP Plans

4.1 / 5 based on 22 User Reviews
*Please note that the quotes shown will be from our partners

Edelweiss Tokio Life Insurance is a joint venture between Edelweiss financial Services, Mumbai and Tokio Marine Holdings Inc, Japan. It was established in 2011. It is one of the leading financial service providers which caters to the various needs of its customers and offers a host of products designed specifically to meet the needs of its customers.

What are ULIPs?

Unit Linked Insurance Plans (ULIPs) are insurance plans combined with the features of a mutual fund. The premiums paid by the policyholder are held in a corpus which is then invested in stocks and shares of different companies operating in the capital market. The total market value of the corpus invested divided by the number of securities purchased give the Net Asset Value (NAV) which is the price of one unit of the fund. The premium paid is invested at the prevailing NAV which changes every moment with the market trend. ULIPs promise good returns linked to the market and also insurance coverage. The basic features of ULIPs are as follows:

  • The premium paid is invested in a choice of funds offered by the company. Each fund represents different risk criteria. The basic funds offered are Equity Fund which has a high risk, Debt Fund which has low risk and Balanced Fund a mix of Equity and Debt Fund with a moderate risk. The returns are directly related to the risk profile of the fund.
  • Applicable charges are deducted from the premium paid for insurance coverage, administration charge, fund management charge, etc.
  • Insurance coverage depends on the amount of premium paid
  • The premiums are to be locked-in for 5 years after which partial withdrawals are allowed from the fund value
  • Switching option is available which enables the policyholder to switch his investment between funds

Edelweiss Tokio Life ULIP Plans

Edelweiss Tokio Life Insurance Company offers ULIP plans to meet the requirements of all individuals. Let us take a look at the various types of unit linked plans offered by the company and the features and benefits of each plan in details.

Edelweiss Tokio Life Wealth Enhancement Ace –

A unit linked insurance plan which has the following features and benefits:

  • Premium under the plan is paid once in lump sum at the commencement of the plan under the Single Pay option of premium payment
  • The premium net of applicable charges is invested in the fund decided by the policyholder. There are 5 funds available for investment which are Equity Large Cap Fund, Equity Top 250 Fund, Bond Fund, Money Market Fund and Managed Fund
  • On maturity, the Fund Value is payable which can be availed in lump sum or taken in instalments over a period of 5 years through the Settlement Option feature
  • In case of death of the insured during the plan tenure, the death benefit is higher of the basic Sum Assured including top-up Sum Assured net of partial withdrawals or the Fund Value subject to a minimum of 105% of all premiums paid till the date of death
  • Guaranteed Additions are added to the fund value @0.25% of the average fund value over the preceding 12 months from the 8th policy year and every year thereafter.
  • Unlimited free switches are available to switch between funds with a minimum value of Rs.5000
  • Two free partial withdrawals are allowed annually with a minimum of Rs.5000
  • The Sum Assured can be increased or decreased subject to certain terms and conditions
  • Income tax benefit on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.

Eligibility Details

 

Minimum

Maximum

Entry Age

5 years

65 years

Maturity Age

18 years

75 years

Policy Term

10, 15 or 20 years

Premium amount

Rs.75, 000

No limit

Sum Assured

1.25 or 1.10 times the single premium paid depending on age

10 times the single premium paid

Premium Payment Term

Single pay

 

Edelweiss Tokio Wealth Accumulation (Accelerated Cover) –

A unit linked insurance plan providing attractive returns and life insurance coverage. The features and benefits of the plan are as follows:

  • Premiums under the plan can either be paid for the entire tenure of the plan or for a limited tenure.
  • The premiums paid net of applicable charges are invested in the fund decided by the policyholder. There are 6 funds available for investment which are Equity Large Cap Fund, Equity Top 250 Fund, Bond Fund, Money Market Fund, Managed Fund and Price Earning (P/E) based Fund
  • On maturity, the Fund Value is payable which can be availed in lump sum or taken in instalments over a period of 5 years through the Settlement Option feature
  • In case of death of the insured during the plan tenure, the death benefit is higher of the basic Sum Assured including top-up Sum Assured net of partial withdrawals or the Fund Value subject to a minimum of 105% of all premiums paid till the date of death
  • Guaranteed Additions are added @2% - 6% of the annual premium. The rate of additions and the tenure of additions depend on the premium amount and the premium paying tenure
  • Unlimited free switches are available to switch between funds with a minimum value of Rs.5000
  • Two free partial withdrawals are allowed annually with a minimum of Rs.5000
  • Two free premium redirections are also allowed to redirect future premiums into another fund
  • The Sum Assured can be increased or decreased subject to certain terms and conditions
  • Income tax benefit on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.

Eligibility Details

 

Minimum

Maximum

Entry Age

5 years

65 years

Maturity Age

18 years

75 years

Policy Term

10, 15, 20, 25 or 30 years

Premium amount

Rs.25, 000

No limit

Sum Assured

Higher of 10/7 times the annual premium or 0.5/0.25*term*annual premium

20 or 25 times the annual premium depending on age

Premium Payment Term

Equal to policy tenure or 5, 7 or 10 years

Premium Paying Frequency

Yearly, half-yearly, quarterly or monthly

 

Edelweiss Tokio Wealth Accumulation (Privilege) –

A unit linked plan with low allocation charges. The features and benefits of the plan are as follows:

  • Premiums under the plan can either be paid for the entire tenure of the plan or for a limited tenure.
  • The premiums paid net of applicable charges are invested in the fund decided by the policyholder. There are 5 funds available for investment which are Equity Large Cap Fund, Equity Top 250 Fund, Bond Fund, Money Market Fund and Managed Fund
  • On maturity, the Fund Value is payable which can be availed in lump sum or taken in instalments over a period of 5 years through the Settlement Option feature
  • In case of death of the insured during the plan tenure, the death benefit is higher of the basic Sum Assured including top-up Sum Assured net of partial withdrawals or the Fund Value subject to a minimum of 105% of all premiums paid till the date of death
  • Guaranteed Additions are added to the fund value @0.25% of the average fund value over the preceding 12 months from the 8th policy year and every year thereafter.
  • Unlimited free switches are available to switch between funds with a minimum value of Rs.5000
  • Two free premium redirections are also allowed to redirect future premiums into another fund
  • The Sum Assured can be increased or decreased subject to certain terms and conditions and the premium paying term can also be altered
  • Income tax benefit on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.

Eligibility Details

 

Minimum

Maximum

Entry Age

5 years

65 years

Maturity Age

18 years

75 years

Policy Term

10, 15, 20, 25 or 30 years

Premium amount

Rs.2.5 lakhs

No limit

Sum Assured

Higher of 10/7 times the annual premium or 0.5/0.25*term*annual premium

20 or 25 times the annual premium depending on age

Premium Payment Term

Equal to policy tenure or 5, 7 or 10 years

Premium Paying Frequency

Yearly, half-yearly, quarterly or monthly

 

Edelweiss Tokio Life Wealth Accumulation (Cover Plus) –

A unit linked insurance plan with enhanced death benefit payout. The features and benefits of the plan are as follows:

  • Premiums under the plan can either be paid for the entire tenure of the plan or for a limited tenure.
  • The premiums paid net of applicable charges are invested in the fund decided by the policyholder. There are 6 funds available for investment which are Equity Large Cap Fund, Equity Top 250 Fund, Bond Fund, Money Market Fund, Managed Fund and Price Earning (P/E) based Fund
  • On maturity, the Fund Value is payable which can be availed in lump sum or taken in instalments over a period of 5 years through the Settlement Option feature
  • In case of death of the insured during the plan tenure, the death benefit is higher of the basic Sum Assured including top-up Sum Assured plus the Fund Value including any top-up fund value or 105% of all premiums paid till the date of death
  • Guaranteed Additions are added @2% - 6% of the annual premium. The rate of additions and the tenure of additions depend on the premium amount and the premium paying tenure
  • Unlimited free switches are available to switch between funds with a minimum value of Rs.5000
  • Two free partial withdrawals are allowed annually with a minimum of Rs.5000
  • Two free premium redirections are also allowed to redirect future premiums into another fund
  • The Sum Assured can be increased or decreased subject to certain terms and conditions and the premium paying term can also be altered
  • Income tax benefit on the premium paid as per Section 80C and on claims under Section 10(10D) of the Income Tax Act.

Eligibility Details

 

Minimum

Maximum

Entry Age

5 years

65 years

Maturity Age

18 years

75 years

Policy Term

10, 15, 20, 25 or 30 years

Premium amount

Rs.25, 000

No limit

Sum Assured

Higher of 10/7 times the annual premium or 0.5/0.25*term*annual premium

20 or 25 times the annual premium depending on age

Premium Payment Term

Equal to policy tenure or 5, 7 or 10 years

Premium Paying Frequency

Yearly, half-yearly, quarterly or monthly

 

Applying for a Unit Linked Plan from the company:

Online

The company offers specific plans which are available online only. The customer only needs to log into the company’s website, choose the required plan, choose the coverage and provide the details. The premium will be determined using the filled details. The customer then needs to pay the premium online through credit card, debit card or net banking facilities and the policy will be issued

Intermediaries

Plans which are not available online can be purchased from agents, brokers, banks, etc. where the intermediaries help with the application process.

Applying For ULIPs through PolicyBazaar

  1. On the PolicyBazaar homepage, click on ULIPs under the Personal tab.
  2. Click New Quotes to compare and choose from top insurance providers.
  3. Fill your date of birth (DOB), whether you are a smoker/non-smoker, and the payout amount. On the basis of your payout amount, you will get an estimate of your premium. Next click Continue.
  4. Fill in your name, email address, city, country code, and mobile number. Click Continue.
  5. You will be taken to the Life Insurance quotes page where you will see life insurance quotes of more than 10 insurers. Next, choose the plan as per payment schedule – One Time Payout and Monthly Payout Plans.
  6. After reviewing and comparing each life insurance quote, click the premium amount to buy the desired plan.
  7. You will see a pop-up on the screen which will give you an overview of the chosen plan like premium, plan features, exclusions, additional riders, etc. Click Proceed.
  8. This will take you to the insurer’s website. You will have to fill in the necessary details to buy the plan.

To know about Pension Plans check at Edelweiss Tokio Pension Plans

Edelweiss Tokio ULIP Plans - FAQs

1. How to pay premium? What are the modes of payment available?

There are two basic modes for payment of premium for Edelweiss Tokio Life, which have further many options:

  • Online Mode
    • Debit Card payment
    • Payment through standing instructions or credit card
    • Net Banking
  • Offline Mode
    • Through ECS facility
    • IVRS
    • Money Order
    • Cash/Cheque/DD

You can pay offline by visiting the nearest branch in your city.

2. How can I check policy status for Edelweiss Tokio ULIP plans?

You can check policy status online by visiting the e-portal, and punching in the policy number and date of birth.

3. What is the policy renewal process for Edelweiss Tokio ULIP plans?

The policy renewal process requires either using auto direct debit options which can be availed online by feeding your login ID and password into the e-portal

For offline mode, you can approach any of the branch offices regarding the renewal process.

4. What is the company’s process to settle claim for Edelweiss Tokio ULIP plans?

In order to settle the claim, you must submit the policy documents and claims form at any of the branch offices in your city. Upon receiving and verification of the documents, it takes about 30 days’ time to settle the claims. The claims are settled via NEFT mode.

5. What is the policy cancellation process for Edelweiss Tokio ULIP plans?

In case if you are dissatisfied with the policy, a surrender form can be filled and submitted in any of the branch office along with the cancellation charges. Within a time frame of 10 days the policy will stand cancelled on record. The refund will be calculated based on NAV of the current market price.

Edelweiss Tokio ULIP Plans Reviews

TOTAL REVIEWS (22)
Karan
Jalore
July 08, 2016

ULIP Plan

Ulip insurance policy i have which is good in policy coverage and premium is low. Service is fantastic provided by the staff members. Online portal service is simple to operate and renewal of the policy can be done on it easily.

Vijay
Ahmednagar
June 28, 2016

Average Plan

The ulip plan I have is an average insurance policy plan. The premium is low and the policy coverage is normal. Service is good and claiming become easy due to this. Internet service is not that good but manageable.

Tarun
Ranikhet
May 23, 2016

Fantastic Plan

I bought edelweiss tokio ulip plan. The plan works for me. Policy coverage is also good ~90% with good amount of claims. Service provided by you is great and the web services are also nice. This policy plan is good reducer of taxes and good future investment too. I got regular updates.

Yogesh
Faridabad
May 23, 2016

Coverage Is Good

I have edelweiss tokio ulip plan. The policy coverage is high ~92% and the premiums are low. The premiums are payed online and it reduce paperwork. The services are fast and response is quick from executives and staff members. The updates are regularly mailed to me. Good policy, good terms and conditions.

Utkarsh
Coimbatore
May 23, 2016

Great Service

My edelweiss tokio ulip plan is awesome. The policy plan is very nice with low premiums. The policy coverage is high ~85% and claims are good. Perfect policy for future investments and the policy saves taxes also. The behaviour of the executives and staff members are good.

Omnath
Barielly
May 23, 2016

Damn Good

I purchase edelweiss tokio ulip plan. The policy coverage is high ~83% and claims are high but investment is low. Service is nice and executives are available anytime for assistance. I like the policy very much. The policy saves taxes and it is good investment too. Daily updates are send to me timely.

Priyanka
Pithapuram
May 23, 2016

Excellent Policy

I have edelweiss tokio ulip plan and it is good but the only thing is the service is bit slow rather than this all things are good. Like, policy coverage is 89% and claims are high but the investments are low. The behaviour of the executives and staff is very well. Please improve your services. The policy saves taxes too.

Lalit
Chandigarh
May 23, 2016

Nice

Edelweiss tokio ulip plan is great. The policy coverage is nice 82% and the claims are less. The premiums are low. The payback is high and the service is fast which is facilitate by the executives and staff members. The web service is good and operate easily. Satisfied with the policy.

Kamal
Sitarampur
May 23, 2016

Good Plan

I purchase edelweiss tokio ulip plan. The policy coverage is 90% and the premiums are low. The claims are good and the procedure is very easy and cleared in short time period. The services are fast and on time. The behaviour of the executives and staff members are very nice. Nice future investment which saves taxes too.

Jayant
Sitapur
May 23, 2016

Normal Plan

I buy edelweiss tokio life insurance and purchase ulip plan. Plan is good with low investment. Policy coverage is 85% and premium is fourteen thousand quarterly per year. Claims are ~Rs.30 L. Service you facilitate is really very good with fast interface of web services and from executives and staff members also.

Harish
Lonavla
May 23, 2016

Best Policy

The policy coverage is 89%, the claims are high and the claiming is easy because of the executives and the staff members. The services provided by you edelweiss tokio life insurance is very fast and on time. My ulip plan is great. The premiums is less ~37 K and the returns are ~Rs.39 L. Good future investment which save tax.

Gautam
Jaipur
May 23, 2016

Manageable Plan

My edelweiss tokio ulip plan is nice which have low premiums and the paybacks are high. The policy coverage is good ~87% and the claims are approx. 30 L. The services are good and on time and it reduces taxes also. Nice behaviour from executives and staff members.

Deepshikha
Chittaurgarh
May 23, 2016

Good Service

My ulip plan is with edelweiss tokio life insurance. The policy coverage is high 90% and the claims are good. Premiums are less ~32 K per year and the returns are around 29 L. Services are really fast and the response through executives and staff members are nice. Daily updates mailed to me timely.

Sandeepa
Ghaziabad
May 23, 2016

Wonderful Policy

Edelweiss tokio life ulip plan and it is good and the benefits are even better. Premium is low and payback are high. Claims and policy coverage is really awesome with good interest. The service is very quick and on time till now. Good investment, I like the terms and conditions of the policy.

Ashok
Meerut
May 23, 2016

Quality Investment

I purchase edelweiss tokio ulip plan and policy is awesome with great benefits. Policy coverage is high approx. 89%. Claim are good around Rs.33 L after policy get mature and the service is really good with polite behaviour from executives and staff members.

Zafrein
Shahabad
May 23, 2016

Fantastic Plan

My ulip policy plan is one of the best plan ever. Thank you, edelweiss tokio life insurance for the services, the premiums are less and coverage is high ~87%. Service you provided is super sonic, Claiming procedure get so simple and easy. The web services and services provided by staff members and executives are fast and on time. Good investment which save taxes too.

Chandan
Patna
May 23, 2016

Future Investment

I have to say that the policy is very good and the terms and conditions are very reliable and flexible. Policy coverage is 88% and the service is okay with good behaviour from executives and staff members. Good tax saver. The edelweiss tokio ulip plan work's for me, completely satisfied.

Vishal
Mohali
May 23, 2016

Nice

My edelweiss tokio ulip plan is great. Policy coverage is high approx. 87% and the claims are high with good interest. The services provided by your executives and staff members are really very nice and always on time. Good future investment which saves tax also.

Birju
Kolkata
May 23, 2016

Excellent Work

I bought edelweiss tokio ulip plan. The policy coverage is good approx. 85% and the policy claims are high. The premiums are low and the paybacks are really very high. The services provided by the executives and the staff members are good and on time. Good investment and tax saving. The updates of the policy is mailed to regularly.

Nitin
Noida
May 23, 2016

Above Average

I have edelweiss tokio ulip plan. It can easily buy on online and avoiding the hassles of unnecessary paperwork. The policy coverage is 89% and the claims are high which can easily be cleared without any waiting because of fast services provided by the executives and staff members of the company.

Mayank
Buxar
May 23, 2016

Good

I purchase edelweiss tokio life insurance ulip policy plan. The policy premium is low and the paybacks are high. The policy coverage is 82% and the claims are normal. Investment is 32 K per year and the returns are 1.25 times the sum assured. Services you provided is bit slow but manageable. This policy plan work's for me. Satisfactory policy for me.

Rohit
Ahmedabad
May 12, 2016

Excellent Policy

My edelweiss tokio ulip plan is fantastic. The policy plan is very nice with low premiums. The policy coverage is ~85% and claims are good. Perfect policy for future investments and the policy saves taxes also. The behaviour of the executives and staff members are good. I like the policy.