Edelweiss Tokio Life Save N Grow Plan
Edelweiss Tokio Life-Save n Grow Plan
Edelweiss Tokio Life-Save n Grow Plan is a Participating Endowment Plan. It is a Traditional Plan with Bonus facility.
How it works – In this plan, premium can be paid for 10 years, 15 years or till the end of the Policy Tenure as chosen. Thus, there is Limited Payment as well as Regular Payment Option in this plan.
In this plan, the Sum Assured increases by 15% every 5 policy years from the 6th policy year onwards. Thus, if the Life Insured dies within the policy year, then the associated Sum Assured+ accrued Bonus is paid to the nominee as Death Benefit and the policy terminates.
However, if the Life Insured survives till the end of the Policy Tenure, then the Sum Assured + vested Bonus is paid to the policyholder as Maturity Benefit and the policy terminates.
There are 7 additional riders in this plan.
Key Features
Benefits
Policy Year
|
Death Benefit
|
1-5
|
100% of Sum Assured + accrued Bonuses
|
6-10
|
115% of Sum Assured + accrued Bonuses
|
11-15
|
130% of Sum Assured + accrued Bonuses
|
16-20
|
145% of Sum Assured + accrued Bonuses
|
21-25
|
160% of Sum Assured + accrued Bonuses
|
26-30
|
175% of Sum Assured + accrued Bonuses
|
On survival till the end of the policy tenure, the policyholder gets the Sum Assured + accrued Bonus as Maturity Benefit and the policy terminates.
Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C and the Maturity Proceeds are tax free under section 10(10)D subject to fulfilment of terms and conditions.
- Accidental Total and Permanent Disability Rider
- Accidental Death Benefit Rider
- Waiver of Premium Rider
- Term Rider
- Critical Illness Rider
- Hospital Cash Benefit Rider
- Payor Waiver Benefit Rider
Eligibility
|
Minimum
|
Maximum
|
Sum Assured (in Rs.)
|
Rs 1,50,000
|
No Limit
|
Policy Term (in years)
|
15, 20, 25
|
30
|
Premium Payment Term (in years)
|
10, 15
|
Equal to Policy Tenure
|
Entry Age of Life Insured (in years)
|
5
|
60
|
Age at Maturity (in years)
|
-
|
75
|
Premium (in Rs.)
|
Annual: Rs 4,661,
Semi-annual: Rs 3,000, Quarterly: 2,000,
Monthly: Rs 750
|
No Limit
|
Payment modes
|
Monthly / Quarterly / Semi-Annually / Annually
|
FAQs
Loan facility is available in this plan upto 90% of surrender value.