Edelweiss Tokio Life Cashflow Protection Plan
Edelweiss Tokio Life Cashflow Protection Plan is a Non-linked, Participating Money Back Plan. Thus, it is a Traditional Endowment Assurance Plan with Bonus facility.
This plan also has 5 additional riders in this plan.
Key Features of Edelweiss Tokio Life Cashflow Protection Plan
Benefits you get from Edelweiss Tokio Life Cashflow Protection Plan
Death Benefit – In case of death of the Life Insured, the nominee gets the Sum Assured + Guaranteed Accrual Benefit as Death Benefit and the policy would terminate.
The Guaranteed Accrual Benefit calculated for payout along with Death Benefit is calculated according to the Year of Death. PPT stands for Premium Paying Term.
Guaranteed Accrual Death Benefit |
PPT=10 |
PPT=15 |
PPT=20 |
Year of Death |
1-5: 0% |
1-5:0% |
1-5: 0% |
|
6: 5% |
6: 5% |
6: 5% |
|
7+: 10% |
7: 10% |
7: 10% |
|
- |
8: 15% |
8: 15% |
|
- |
9: 20% |
9: 20% |
|
- |
10+: 25% |
10: 25% |
|
- |
- |
11: 30% |
|
- |
- |
12: 35% |
|
- |
- |
13+: 40% |
Survival Benefit— 5% of the Sum Assured is paid as Money Back Payout from the:
Cash Bonus - This starts along with the Money Back payout and continues to be paid till maturity.
Maturity Benefit – If the Life Insured survives till the end of the policy tenure, 110% to 140% of the Sum Assured is paid as Maturity Benefit, according to the calculation of the Guaranteed Accrual Benefit.
Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,00,000 are allowed as a deduction from the taxable income each year under section 80C.
Eligibility conditions and other restrictions in Edelweiss Tokio Life Cashflow Protection Plan
|
Minimum |
Maximum |
Sum Assured (in Rs.) |
75,000 |
No Limit |
Annual Premium (in Rs.) |
5702 |
No Limit |
Policy Term (in years) |
85 years less age at entry of the life insured |
95 years |
Premium Payment Term (in years) |
10/15 |
20 |
Entry Age of Life Insured (in years) |
5 |
65 |
Age at Maturity (in years) |
85 |
100 |
Payment modes |
Annual, Semi-Annual, Quarterly and Monthly |
Sample illustration of Edelweiss Tokio Life Cashflow Protection Plan
The below illustration is for a healthy Male (non-tobacco user) opting for a
Sum Assured= Rs 5, 00, 000
Premium Paying Term= 15 years
Maturity Age= 95 years
Annual Premium = Rs 45895
Benefits:
Guaranteed Sum Assured= Rs 5,00,000
Total Guaranteed Accrual Benefit= Rs 1,25,000
Money Back Payout= Rs 25,000 from 10th year onwards till end of Policy Term
Guaranteed Maturity Benefit= Rs 6,25,000 + Cash Bonus which starts along with the Money Back payout and continues to be paid till maturity.
Additional Features and Benefits of Edelweiss Tokio Life Cashflow Protection Plan
Riders – There are 5 additional riders available in this policy:
What happens if?
You stop paying the premium - If the policy holder stops paying the premium, then all benefits of the policy will stop after the grace period ends. The policy can however be revived within 2 years from the date of first unpaid premium.
The policy continues with the Paid Up Sum Assured which is calculated according to the number of years’ the premium has been paid for. For death during Paid Up period, Paid Up Sum Assured is used for calculation.
You want to surrender the policy – Surrender Benefit is allowed under this plan but after 3 policy years.
Guaranteed Surrender Value = 30% of all Premiums paid till date– 1st year’s premium
There is Special Surrender Value of this plan for various Premium Paying Terms.
You want a loan against your policy – Loan facility is available under this policy after the 3rd policy year.