Edelweiss Tokio Income Replacement
Edelweiss Tokio Life Income Replacement Plan
Edelweiss Tokio Life Income Replacement is a Monthly Income Plan. In this plan, the nominee would get the chosen Monthly Income Benefit every month till the end of the term or 5 years, whichever is later. The Monthly Benefit would keep increasing every year by 5% so as to combat inflation. Being a pure protection plan, there is no maturity benefit.
Key Features
Benefits
In case of death of the policy holder, the nominee would receive Monthly Benefit, as chosen till the end of the term or 5 years, whichever is later. In increases every year by 5% so as to fight inflationary price hikes.
Being a pure protection plan, there are no maturity benefits under this plan.
Life Insurance premiums paid up to Rs. 1,50,000 are allowed as a deduction from the taxable income each year under section 80C
There are no riders available in this policy
Eligibility
|
Minimum |
Maximum |
|
|
Sum Assured (in Rs.) |
15,00,000 |
No Limit |
|
Policy Term (in years) |
10 |
30 |
|
Premium Payment Term (in years) |
Single, 5, 10, 15 |
Equal to policy term |
|
Entry Age of Policyholder |
18 |
60 |
|
Age at Maturity |
28 |
70 |
|
Payment modes |
Only Annual |
|
FAQs
What happen if you stop paying the premium ?If you stop paying the premium, then all benefits of the policy will cease after the policy lapses.
What happen if you want to surrender the policy ?Surrender Benefit option is available only to Single Premium and Limited Premium policies according to the following formula:
Surrender Value = Total Premium paid x 70% x No. of remaining complete months of cover/Total Policy Term in months
Surrender is allowed only after the Premium Paying Term is over for Limited Paying Policy.
What happen if you want a loan against your policy ?Loan facility is not available under this policy.
