Key Reasons to Choose Edelweiss Tokio Saral Jeevan Bima
To buy Saral Jeevan Bima by Edelweiss Tokio Life Saral Jeevan Bima, it is imperative to understand the type of policy it is. It is a non-linked and non-participating individual life insurance policy with pure risk coverage. It is curated to meet the needs of the whole family and to provide them a comprehensive coverage. The Saral Jeevan Bima from Edelweiss Tokio Life provides stability to the entire family and secures their financial future. The policyholder can personalize and customize the Saral Jeevan Bima plan by opting for desirable coverage, the appropriate mode of payment, and a convenient premium paying tenure.
Why you should have a Term Insurance Plan?
Term insurance is one of the most affordable life insurance policies inviting a very low premium and offering a high sum assured by the insurance company in the absence of the policyholder to provide financial stability and a decent lifestyle to the insured’s family members and dependents.
Key Reasons to Choose Edelweiss Tokio Saral Jeevan Bima
- You can choose a policy tenure ranging from a minimum of 5 years to a maximum of 40 years.
- The plan offers sum assured coverage up to the age of 70 years.
- The plan offers flexibility to the policyholder to choose different premium paying mode.
- The policyholder can pay the premium through single pay, regular pay, or limited pay of 5-10 years.
- To buy Saral Jeevan Bima by Edelweiss Tokio Life you can do it online through a simple and hassle-free process.
Eligibility Criteria to buy Saral Jeevan Bima by Edelweiss Tokio Life
Here are the eligibility criteria of the policy:
- Entry Age – Minimum age – 18 years and Maximum Age – 65 years
- Policy Term – Minimum-5 years and Maximum – 40 years
- Maturity Age – 70 years
- Sum Assured – Rs.5,00,000
- Premium Payment Options – For Regular Pay Limited Pay- 5 years & for Single Pay – 10 years
- Premium Paying Frequency – For Regular & limited pay: Annual, half-yearly and monthly
Edelweiss Tokio Saral Jeevan Bima Benefits
Death Benefit
The sum assured will be paid to the family of the policyholder in case of his unfortunate demise during the policy tenure.
Maturity Benefit
As Edelweiss Tokio Saral Jeevan Bima is a pure term plan, there is no maturity benefit offered by the policy.
Tax Benefit
Tax deductions are allowed under section 80C of the Income Tax Act on the amount of premium paid towards it.
Waiting Period
The waiting period of the policy will be 45 days from the date of commencement of risk. If the policyholder dies due to an accident during the waiting period, then 100% of the premium paid excluding the taxes will be paid to the nominee but the sum assured amount will not be paid.
Surrender Value
No surrender value is applicable under this policy.
Free Look Period
A free-look period of 15 days for offline policies and 30 days for online policies is offered from the date of inception of the policy. If the policyholder is not satisfied with the terms and conditions of the policy, he can claim a refund of the premium paid towards it and cancel his policy.
Grace Period
30 days of grace period for policyholders who pay annually or half-yearly premiums and 15 days for people who pay the monthly premium payment. If the premium is not paid within the grace period, the policy lapses.
Exclusions
Suicide Exclusion
Under Regular or Limited Pay: If the policyholder commits suicide within 12 months from the date start of the policy, no claim other than 80% of the premium amount will be entertained.
Under Single Premium Policy: If the policyholder commits suicide within 12 months from the date start of the policy, no claim other than 90% of the single premium amount paid will be entertained.
