Compare Edelweiss Tokio Life Total Secure Plus Plan

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Edelweiss Tokio Life Total Secure+

Edelweiss Tokio Life’s Total Secure+ is a term insurance plan which also provides coverage for Critical Illnesses too. Moreover, the plan comes with three death benefit options and covers individuals for up to 80 years.

Key features of the plan

  • The plan can be taken for a basic cover or a cover with Critical Illness benefit inbuilt in the plan option which provides an additional Sum Assured in case the life insured suffers a critical illness during the plan tenure.
  • There are three death benefit options in the plan. The policyholder can choose to take the death benefit in lump sum, in monthly instalments or in a combination of both.
  • Life cover under the plan is provided for up to 80 years of age.
  • Four additional riders are also available with the plan

How does the plan work?

Step 1 – the policyholder chooses the type of cover required. There are three coverage options which are:

  • Life Cover which pays the basic Sum Assured to the nominee in case of death of the life insured.
  • Life Cover with Basic Health Cover which comes inbuilt with a basic critical illness benefit covering 7 illnesses. On death, the Sum Assured is paid to the nominee. Furthermore, if the life insured suffers from any of the covered illnesses, an additional critical illness benefit is paid which is less than the chosen Sum Assured or equal to it.
  • Life Cover with Comprehensive Health Cover which has an inbuilt comprehensive critical illness benefit covering 35 illnesses. If the life insured suffers from any of the covered illnesses, an additional critical illness benefit is paid which is less than the chosen Sum Assured or equal to it. On death, the Sum Assured less any critical illness benefit already paid is paid to the nominee.

Step 2 – then the policyholder chooses the death benefit option from the following:

  • Lump sum death benefit
  • Regular income where monthly incomes are paid for 36, 60, 120 or 180 months as chosen by the policyholder. Moreover, the policyholder can choose to receive fixed incomes or increasing incomes. In case of increasing incomes, the income increases by 5% compounded interest every year. the monthly income payable would depend on the payout period and the type of income (fixed or increasing) and is as follows:
  % of death benefit payable
36 months 60 months 120 months 180 months
Level incomes 3.020 1.917 1.085 0.806
Increasing incomes 2.880 1.734 0.872 0.568
  • Lump sum + regular income where the death benefit can be chosen to be received partly in lump sum and partly in regular incomes in any proportion as chosen by the policyholder.

Step 3 – the policyholder then chooses the Sum Assured, policy term and the premium paying term.

Step 4 - if required, the policyholder can add the additional Accidental Death Benefit Rider to the plan.

Step 5- in case of death within the term of the plan, the death benefit is paid. The benefit would depend on the coverage option and the death benefit option chosen by the policyholder when the plan was bought.

Step 5 – If the plan matures, no benefit is paid.

Example

Raghav, a non-smoking males aged 40 years buys the Total Secure+ Plan for a term of 30 years. The Basic Sum Assured is Rs.1 crores.

Option 1 – Raghav chooses the basic or comprehensive critical illness cover for a Sum Assured of Rs.10 lakhs. In case he is diagnosed with any covered illness, Rs.10 lakhs would be paid under the plan. In case of subsequent death, Rs.90 lakhs would be paid to the nominee in lump sum, fixed or increasing incomes or in a combination of both.

Option 2 – If Raghav chooses only the Basic Cover, Rs.1 crore would be paid in lump sum, fixed or increasing incomes or in a combination of both on his death.

Option 3 - in case the plan matures, Raghav wouldn’t receive anything.

Plan benefits

  • Death benefit – the death benefit is paid in case of death of the life insured during the plan tenure. The benefit paid would depend on the benefit option and the coverage option selected by the policyholder when buying the plan. It can be availed in lump sum or in monthly instalments or in both. The death benefit is defined as higher of the following:

For Single Premium plans

  • 125% of single premium
  • Basic Sum Assured

For limited and regular pay plans

  • 10 times the annual premium
  • 105% of the total premiums paid till death
  • Sum Assured
  • Maturity Benefit – there is no maturity benefit payable under the plan

Eligibility

  Minimum Maximum
Age at entry (in completed years) 18 years 65 years
Age at maturity (in completed years) NA For death benefit option  - 80 years
For death benefit option 2 & 3 – 75 years
Term of the plan 10 years For death benefit option  - 62 years
For death benefit option 2 & 3 – 40 years
Premium paying options Regular pay, limited pay or single pay
Premium Paying term Regular Pay - Equal to the plan tenure
Limited pay – 5,10,15,20,25 years
Single Pay -once
Sum Assured Base Sum Assured - Rs.25 lakhs
Critical Illness Sum Assured – Rs.5 lakhs
Base Sum Assured – no limit
Critical Illness Sum Assured – Rs.1 crore

What is not covered by the plan?
If the life insured dies due to suicide within one year of plan commencement, 80% of the premiums paid are refunded.
If the life insured dies due to suicide within one year of reviving a lapsed policy, higher of 80% of the premiums paid or the acquired Surrender Value is paid.

For Critical Illness Benefit, illnesses due to pre-existing illnesses within the first 4 years of the policy and illnesses due to HIV/AIDS, suicide, defense operations, alcohol or substance abuse, congenital conditions, etc. are not covered.

Premium Illustration
Below are the sample rates of premium (inclusive of all taxes) payable by a non-smoking male at different ages and for different coverage options. The Basic Sum Assured is assumed to be Rs.1 crore and the Critical Illness Sum Assured is assumed to be Rs.10 lakhs. The term is 30 years and regular premiums are paid annually under the plan.

Edelweiss-Tokio-Life-Total-Secure+

FAQs

  • Which riders are available with the plan?
  • There are 4 available riders which are Edelweiss Tokio Life Accidental Death Benefit Rider, Edelweiss Tokio Life Accidental Total & Permanent Disability Benefit Rider, Edelweiss Tokio Life Waiver of Premium Rider and Edelweiss Tokio Life Hospital Cash Benefit Rider.

  • What is the available premium paying mode?
  • Premiums can be paid only in the annual /single mode.

  • What is the minimum amount of premium?
  • The minimum premium payable under the plan is Rs.3000

  • Does the plan have surrender value?
  • Yes, surrender value is acquired by the plan depending on the premium paying term of the policy.

  • What is the free-look period under the plan?
  • 30 days is allowed as the free-look period for cancelling the plan after issuance.  
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