Edelweiss Tokio Life GCAP
Edelweiss Tokio Life – GCAP Plan is a guaranteed-return plan. This is a non-linked and non-participating plan.
Tax Benefit
Death Benefit
Riders
Compare this plan with other Investment Plans
Key Features
All the benefits are guaranteed upfront
Get additional benefits from 9th policy year through Guaranteed Accrual Additions
Loan facility is available
Enhance your benefits by adding various riders
Option to receive maturity benefit payments as a lump-sum amount
Benefits
Death Benefit
On death of the Life Assured during the policy, company pays : Sum Assured on Death plus Guaranteed Accrual Additions(GAA), if any.
GAA is calculated as a specific percentage of total annualized premiums paid.
Maturity Benefit
On survival of the Life Assured till maturity, company pays:
Sum Assured on maturity (SAM) + Cumulative Guaranteed Accrual Additions + Large premium benefit (LPB), if any
LPB = If annual premium is in excess of Rs.40,000/- ,there is an additional payout on maturity for every Rs.20,000 in excess of Rs.40,000/-
Tax Benefits
You can avail tax benefits under Section 80C and Section 10 (10D) of the Income Tax Act, 1961.
Premium paid for Critical Illness Rider, if opted, may qualify for a deduction under Section 80D of the Income Tax Act, 1961. Tax benefits are subject to change in the tax laws.
Riders
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Edelweiss Tokio Life - Accidental Total & Permanent Disability Rider
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Edelweiss Tokio Life - Accidental Death Benefit Rider
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Edelweiss Tokio Life - Waiver of Premium Rider
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Edelweiss Tokio Life - Term Rider
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Edelweiss Tokio Life - Critical Illness Rider
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Edelweiss Tokio Life - Income Benefit Rider
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Edelweiss Tokio Life - Payor Waiver Benefit Rider
Policy Loan
A policy loan is available under this plan.
Surrender Benefit
5 Pay and 7 Pay
The Policy acquires surrender value from the second policy year provided all the premiums for the first policy year have been paid in full.
10 Pay and 12 Pay
The Policy acquires surrender value if all the premiums have been paid in full for at least first two policy years.
On surrender the surrender value, if any, will be immediately paid and policy will be terminated. The Guaranteed
Surrender Value is a sum of surrender value of premiums and surrender value of cumulative guaranteed accrual
additions. The surrender value of the premium is a percentage of total premiums paid (excluding any premiums paid towards
rider benefits, and underwriting extra). The Guaranteed Surrender Value will vary depending on the premium paying
term and the year the policy is surrendered. The policy is also eligible for Special Surrender Value and on surrender higher
Guaranteed Surrender Value or Special Surrender Value will be payable.
Suicide Claim
- If the life insured, whether sane or insane, commits suicide, within 12 months from the risk commencement date, then the policy shall be void and 80% of the premiums received (excluding extra mortality premium) will be payable, provided the policy is in force on the date of death.
- If the life insured, whether sane or insane, commits suicide, within one year from the date of revival, then the policy shall be void and higher than ‘80% of the premiums paid till the date of death or ‘surrender value available as on the date of death will be payable.
Grace period
A grace period of 30 days is available for all the modes of premium payment.
The policy will remain in force during the grace period. If any premium remains unpaid at the end of the grace period, the
policy shall lapse.
Eligibility
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Eligibility
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Minimum
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Maximum
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Entry age (last birthday)
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91 days
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55 years
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Maturity Age (last birthday)
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18 years
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70 years
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Policy Term
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10, 15, 20, 25 years
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30 years
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Premium Paying Term (PPT)
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5, 7, 10 years
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12 years
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Premium Payment Frequency
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Annual, Semi-annual, Quarterly, Monthly
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Minimum Premium
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Rs.15,000 (Annual
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