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Edelweiss Tokio Life Safe N Sure Plan

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Edelweiss Tokio Life Safe n Sure Plan

 Edelweiss Tokio Life-Safe n Sure Plan (WA) is a non-Participating Endowment Plan. It is a Traditional Plan without Bonus facility.
 
How it works – In this plan, premium needs to be paid for 15 years irrespective of the Policy Tenure chosen. Thus, there is Limited Payment as well as Regular Payment Option in this plan.
 
In this plan, the Sum Assured would be paid to the policyholder on survival till the end of the policy tenure as Maturity Benefit and the policy terminates. However, if the Life Insured dies within the policy year, then the Sum Assured would be paid to the nominee as Death Benefit and the policy terminates.
 
There are 6 additional riders in this plan.
 
 

Key Features of Edelweiss Tokio Life-Safe n Sure Insurance Policy

  • It is an Endowment Plan without Bonus facility
  • In this plan, premium needs to be paid for 15 years only, irrespective the policy tenure chosen
  • In this plan, the Sum Assured is paid to the nominee if the Life Insured dies within the Policy Tenure
  • On survival till the end of the policy term, the Sum Assured is paid to the policyholder as Maturity Benefit
  • There is discount for higher Sum Assured in this plan
  • There is discount for female lives as well
  • There are 6 additional riders in this plan
COMPARE THIS PLAN WITH OTHER ENDOWMENT PLANS


 

Benefits you get from Edelweiss Tokio Life-Safe n Sure Insurance Plan

Death Benefit – In case of death of the Life Insured within the Policy Tenure, the Sum Assured would be paid to the nominee as Death Benefit and the policy terminates.
 
Maturity Benefit – On survival till the end of the policy tenure, the policyholder gets the Sum Assured as the Maturity Benefit and the policy terminates.
 
Income Tax Benefit - Life Insurance premiums paid up to Rs. 1,50,000 are allowed as a deduction from the taxable income each year under section 80C and the Maturity Proceeds are tax free under section 10(10)D subject to fulfilment of terms and conditions.
 
 

Eligibility conditions & other restrictions in Edelweiss Tokio Life-Safe n Sure Policy

 
Minimum
Maximum
Sum Assured (in Rs.)
2,00,000
No Limit
Policy Term (in years)
15, 20
25
Premium Payment Term (in years)
15
Entry Age of Life Insured (in years)
5
55
Age at Maturity (in years)
-
80
Premium (in Rs.)
Annual: Rs 7,326,
Semi-annual: Rs 4,000,
Quarterly: 2,500,
Monthly: Rs 1,000
No Limit
Payment modes
Monthly / Quarterly / Semi-Annually / Annually
 
 

 Sample illustration of Edelweiss Tokio Life-Safe n Sure Plan

The below illustration is for a healthy male opting for Sum Assured of Rs 1,00,000 for a Policy Tenure of 20 years and 25 years.

Edelweiss Tokio Safe n Sure Plan Sample Premium

 

Additional Features and Benefits of Edelweiss Tokio Life-Safe n Sure Plan

Riders – There are 6 additional riders in this plan
  1. Accidental Total and Permanent Disability Rider
  2. Accidental Death Benefit Rider
  3. Waiver of Premium Rider
  4. Term Rider
  5. Critical Illness Rider
  6. Payor Waiver Benefit Rider
 

What happens if?

You stop paying the premium - If the policy holder stops paying the premium, then the policy lapses and all benefits cease. However, if at least first two policy years’ full premiums have been paid, then the policy may continue as a ‘Paid-up’ policy for a reduced Sum Assured.
Paid-up Sum Assured = Sum Assured * (Number of premiums paid/ Number of premiums payable)
 
You want to surrender the policy – The Policy can be surrendered after at least 2 years premiums have been paid. On Surrender the 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).
Guaranteed Surrender Value= 30% of all premiums paid -1st year’s premium
Special Surrender Value= Paid-up Sum Assured X Surrender Value Factor.
The Surrender Value Factor depends on policy term and policy year of surrender.
 
You want a loan against your policy – Loan facility is available in this plan upto 90% of surrender value.



 
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