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Edelweiss Tokio Life Cashflow Protection Plus
Edelweiss Tokio Life Cashflow Protection Plus Plan
Edelweiss Tokio Life Cashflow Protection Plan is a non-linked, participating savings insurance plan which provides protection till the age of 100 years of age.
Key Features of Edelweiss Tokio Life Cashflow Protection Plus Plan
Get guaranteed income and avail protection till age of 100 years
Get a lump-sum at the end of premium payment term through reversionary bonus
Earn higher returns through additional cash bonus
Get discounts for higher Sum Assured on Maturity
Loan facility to meet any urgent / unforeseen liquidity requirements
Option to make your cover more comprehensive through riders
Benefits you get from Edelweiss Tokio Life Cashflow Protection Plus Plan
Under this plan apart from Death and Maturity benefit, three different benefits are payable and aredescribed below:
Reversionary Bonus (RB): It is a non-guaranteed accrual benefit. It will accrue from the first policy year till the end of premium paying term of the policy and will be based on the performance of the par fund.
The benefit payable either on death or at the end of premium paying term, whichever is earlier.
Money Back: It is a guaranteed benefit equal to 5.5% of the Sum Assured on Maturity, payable annually at the end of each policy year and the payout starts one year after the premium paying term and continues to be paid till maturity or death whichever is earlier.
For e.g. the money back will start from 16 policy year for premium paying term of 15 years.
Cash Bonus (CB): It is a non-guaranteed benefit payable every year at each policy anniversary after the premium paying term along with the Money Back benefit. Cash Bonus will be based on the performance of the par fund and will be payable till maturity or death, whichever is earlier.
For Life Assured with entry age below 5 years
For minor lives, where the entry age is below 5 years, in case of death during the 1 year and 11 months from the date of commencement of the policy, the company will pay 105% of total premiums paid till date of death.
After completion of 1 year and 11 months from the commencement of the policy, the death benefit would be as per the benefit offered for Entry Age of 5 years and above.
For Life Assured with entry age of 5 years and above
Before end of PPT: Sum Assured on Death Plus accrued reversionary bonuses
After end of PPT: Sum Assured on Death
Where, the Sum Assured on Death at any time during the policy term is higher of the following:
• 11 times of the Annualized Premium
• Minimum guaranteed Sum Assured on Maturity
Eligibility conditions and other restrictions in Edelweiss Tokio Life Cashflow
Protection Plus Plan
Sum Assured (in Rs.) 200,000 No Limit
Annual Premium (in Rs.) 9,835 No Limit
Policy Term (in years) 100 years less age at entry of the life insured
Premium Payment Term (in years) 10/15/20 25
Entry Age of Life Insured (in years) 91 days 55
Age at Maturity (in years) 100
Payment modes Annual, Semi-Annual and Monthly
Other Benefits of Edelweiss Tokio Life Cashflow Protection Plus Plan
REDUCED PAID-UP BENEFITS
If all the premiums have been paid for at least three consecutive years then the policy will not lapse and continue as a ‘Reduced Paid-up’ policy and all the benefits shall be reduced proportionately.
All the benefits will be multiplied by a paid up factor, where paid- up factor is as below:
Paid-up factor = (Number of premiums paid/ Number of premiums payable)
On the policy being paid-up, the benefits are as follows:
1) Reversionary and Cash Bonus
No further bonus (reversionary and cash) will be declared for that policy. The reversionary bonuses that have been declared so far, and if not paid earlier, will be protected and paid on death or at the end of premium paying term, whichever is earlier.
2) Money Back
Money back will continue to be paid as in-force policy. However, the amount of money back will be
based on Paid-up Sum Assured on Maturity where Paid-up Sum Assured on Maturity = Sum Assured on Maturity * Paid-up factor
3) Death Benefit
On death of a life assured, after the policy getting paid-up, the beneficiary will receive:
Before the end of premium paying term:
• 100% of Paid-up Sum Assured on Death PLUS
• Accrued bonuses declared till the policy gets paid-up
After the end of premium paying term:
• 100% of Paid-up Sum Assured on Death
Paid-up Sum Assured on Death = Sum Assured on Death * Paid-up factor