Edelweiss Tokio Protection Plan
Edelweiss Tokio Life – Protection Plan
Edelweiss Tokio Life – Protection is a vanilla term plan from Edelweiss Tokio Life Insurance Company where the nominee would get the Sum Assured as death benefit if the life insured dies within the policy tenure but nothing would be payable to the policyholder if the life insured survives. Hence there is no maturity or survival benefit in this case.
Key Features
Benefits
In case of death of the policy holder, the nominee would receive the sum assured under this policy.
There are no maturity benefits under this plan.
Life Insurance premiums paid up to Rs. 1,00,000 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 |
Sample illustration of premium amount in Edelweiss Tokio Life- Protection
The below illustration is for a healthy Male (non-tobacco user) opting for a Sum Assured = Rs. 50 lakhs and Policy Term = 25 years
FAQs
If the policy holder stops paying the premium, then all benefits of the policy will cease after the policy lapses.
- 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.
Loan facility is not available under this policy.