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Edelweiss Tokio Life Guaranteed Income Plan

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Edelweiss Tokio Life – Guaranteed Income Plan

Edelweiss Tokio Life – Guaranteed Income Plan is a guaranteed-return endowment plan with tax-free income. With regular payouts, ensure a higher liquidity for a longer period of time at maturity.

Key Features

  • Pay premium for 15 years and get benefit for the next 15 years

  • Assured benefit at maturity of 200% of each premium paid

  • 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 life assured during the policy term:

Highest of following amounts will be paid:

10 times of annualized premium

OR 125% of annualized premiums till date of death

OR lump sum amount available at maturity

 

Maturity Benefit

On survival of the life assured till maturity, 200% of the annual premium (excluding rider premium and extra premium) will

be paid at the end of each year during the payout period.

After maturity of the policy, if the policyholder/nominee wishes to get the discounted value of outstanding future survival

benefits as lump sum during any of the payout year then the discounted value calculated by using the discount rate of 9%

per annum will be payable.

 

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 of Life Insured (last birthday)

3 years

50 years

Maturity Age (last birthday)

18 years

65 years

Policy Term

15 years

 

Premium Paying Term (PPT)

15 years

 

Payout Period*

16th - 30th year from Policy commencement date

 

Premium Payment Frequency

Annual

 

Minimum Premium

Rs.30,000 (age 03 to 35)

Rs.40,000 (age 36 to 40)

Rs.50,000 (age 41 to 45)

Rs.60,000 (age 46 to 50)

No Limit

Minimum Sum Assured

Rs.4,83,630

No Limit


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 - Hospital Cash Benefit Rider

  7. Edelweiss Tokio Life - Payor Waiver Benefit Rider

Policy Loan

Policy loan is available under this plan

Premium discontinuance

On premium discontinuance after first premium payment, the policy will be lapsed and no surrender value or paid-up value will be payable. On premium discontinuance after first 2 policy years’ full premium payment, the policy shall become paid-up.

Surrender Benefit

The Policy can be surrendered provided that at least premium for two policy years has been paid by the policyholder. On surrender anytime, surrender value, if any, will be immediately paid and policy will be terminated. The surrender value payable is higher of the Guaranteed Surrender Value (GSV) and Special Surrender Value (SSV).  

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