India's 1st IRDAI Approved Insurance Web Aggregator

Edelweiss Tokio Life GCAP

  •  views
  •  views

Edelweiss Tokio Life – GCAP

Edelweiss Tokio Life – GCAP Plan is a guaranteed-return plan. This is a non-linked and non-participating plan.   
 
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 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.
 

Eligibility & other conditions

 
Eligibility
Minimum
Maximum
Entry age (last birthday)
91 days
55 years
Maturity Age (last birthday)
18 years
70 years
Policy Term
10, 15, 20, 25 years
30 years
Premium Paying Term (PPT)
5, 7, 10 years
12 years
Premium Payment Frequency
Annual, Semi-annual, Quarterly, Monthly
Minimum Premium
Rs.15,000 (Annual)
 

Other Benefits and Details

Riders
  1. Edelweiss Tokio Life - Accidental Total & Permanent Disability Rider
  2. Edelweiss Tokio Life - Accidental Death Benefit Rider
  3. Edelweiss Tokio Life - Waiver of Premium Rider
  4. Edelweiss Tokio Life - Term Rider
  5. Edelweiss Tokio Life - Critical Illness Rider
  6. Edelweiss Tokio Life - Income Benefit Rider
  7. Edelweiss Tokio Life - Payor Waiver Benefit Rider
 
Policy Loan
Policy loan is available under this plan.
 
Surrender Benefit
5 Pay and 7 Pay
The Policy acquires surrender value from second policy year provided all the premiums for 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. Surrender value of 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
of 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 of ‘80% of the premiums paid till date of death’ or ‘surrender value available as on the date of death’
will be payable.
 
Grace period
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.
Similar Withdrawn Endowment Plans from Edelweiss Tokio Life
Compare Endowment Plans

Leave a Comment

Endowment Plan Calculator