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Edelweiss Tokio Life Pension Plan

Edelweiss Tokio Life – Pension Plan is a retirement solution, suited to meet your needs to plan for a financially stable and happy retirement life.

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Riders
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Death Benefit
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Maturity Benefit
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Key Features

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Accumulate your wealth for retirement
Guaranteed addition of 5% p.a. of cumulative premium for first five policy years
Additional benefits through compounded reversionary bonus
Choose your vesting age as per your retirement needs
Choice of various premium paying terms and premium paying frequencies are made available to suit your needs
Get discounts for higher Sum Assured
Option to enhance your benefits by adding riders

Benefits

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Guaranteed Addition

The benefit is accrued to the policy on each policy anniversary during the first five policy years and is payable on death or vesting, whichever is earlier. The amount will be calculated as 5% of the cumulative premium (excluding rider premium) paid till that policy anniversary. A proportionate amount of guaranteed addition will be available on death for policies terminated during the policy year. The proportionate amount will be calculated based on the policy month of the policies terminated and the total premium paid till the date of death.

Compound Reversionary Bonus

Compound reversionary bonus (as a % of the sum assured plus accrued bonuses) will accrue from the sixth policy year which will be payable either on death or vesting, whichever is earlier.

Death Benefit

On Death of Life Assured Higher of:

  • Total premiums paid (excluding rider premium) compounded monthly at 1% per annum interest plus accrued guaranteed additions plus the accrued bonuses till date of death
  • 105% of premiums paid (excluding rider premium)
Maturity Benefit

On Maturity Sum Assured plus accrued guaranteed additions plus accrued bonuses

Surrender Benefits

Single Pay: The policy can be surrendered at any point in time from the first policy year.
Other Pay: The Policy can be surrendered provided that at least the premium for two policy years has been paid in full by the policyholder.

On Surrender the surrender value, if any, will be available immediately and the policy will be terminated. The surrender value payable is higher of the Guaranteed Surrender Value (GSV) and Special Surrender Value (SSV).

(i) Guaranteed Surrender Value (GSV):
Single pay:
The Guaranteed Surrender Value is the sum of
I. A specific percentage (as given below) of single premiums paid to date.

  • During 1st policy year: The Guaranteed Surrender Value is 70% of the single premium paid.
  • During the 2nd and 3rd policy years: The Guaranteed Surrender Value is 80% of the single premium paid.
  • From the 4th policy year till (Policy Term -2): The Guaranteed Surrender Value is 90% of the single premium paid.
  • During the last two policy years: The Guaranteed Surrender Value is 100% of the single premium paid.

ii. A specified percentage of ‘guaranteed addition plus bonuses’ accrued to date

Other pay:
The Guaranteed Surrender Value is the sum of
I. A specific percentage of total premiums paid to date.
ii. A specified percentage of ‘guaranteed addition plus bonuses’ accrued to date

Any amount paid towards riders is not available on surrender of the policy.

(ii) Special Surrender Value (SSV):
Special Surrender Value = (Paid-up Sum Assured plus Guaranteed Addition plus Accrued bonuses) * (Special Surrender Value Factor)
The Special Surrender Value Factor is given in the table below which varies with the policy year of surrender. The Special Surrender Value Factor will be reviewed from time to time based on the experience and will be subject to prior approval of IRDA

Riders

Edelweiss Tokio Life - Term Rider
Edelweiss Tokio Life - Critical Illness Rider

Eligibility

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Eligibility Value
Entry Age of Life Insured (last birthday) 18 to 65 years(age last birthday)
Minimum Maturity Age (last birthday) 45 years
Maximum Maturity Age (last birthday) 75 years
Premium Paying Term (PPT) Single Pay, 5 Pay, 10 Pay, Regular Pay
Policy Term Single Pay, 5 Pay, Regular Pay: 10 to 40 years, 10 Pay: 11 to 40 years
Premium Payment Frequency Single, Annual, Semi-annual, Quarterly and Monthly
Minimum Premium Single Pay: Rs 108,125; Other Pay - Annual: Rs 4,898.50; Semi-annual: Rs 3,000; Quarterly: Rs 1,500; Monthly: Rs 500
Minimum Sum Assured (SA) Single pay: Rs 125,000; Other pay: Rs 2,00,000
Maximum Sum Assured No Limit