Edelweiss Tokio Life Single Pay Endowment Assurance Plan
Edelweiss Tokio Life Single Pay Endowment Assurance Plan
Edelweiss Tokio Life Single Pay Endowment Assurance Plan 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 in a lumpsum under Single Premium Paying Option and the policy continues for the entire policy tenure of 10 years. The Sum Assured is fixed at 10 times the Single Premium paid.
In this plan, the Maturity Benefit would be paid to the policyholder on survival till the end of the policy tenure and the policy terminates. The Maturity Benefit is defined at the beginning of the Policy Tenure depending on age, gender and premium band.
However, if the Life Insured dies within the policy year, then the Sum Assured, i.e.10 times the Single Premium paid would be paid to the nominee as Death Benefit and the policy terminates.
There are 4 additional riders in this plan.
Key Features
- The Maturity Benefit is defined at the beginning of the Policy Tenure depending on age, gender and premium band
- if the Life Insured dies within the policy year, then the Sum Assured would be paid to the nominee as Death Benefit
Benefits
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.
Premium Band
|
Single Premium Range
|
Band 1
|
Rs 40,000 to Rs 99,999
|
Band 2
|
Rs 1,00,000 to Rs 2,49,999
|
Band 3
|
Rs 2,50,000 to Rs 9,99,999
|
Band 4
|
Rs 10,00,000 to Rs 24,99,999
|
Band 5
|
Rs 25,00,000 and more
|
Age
|
Maturity Benefit
|
||||
Band 1
|
Band 2
|
Band 3
|
Band 4
|
Band 5
|
|
30
|
Rs 1,782
|
Rs 1,801
|
Rs 1,865
|
Rs 1,904
|
Rs 1,924
|
35
|
Rs 1,728
|
Rs 1,747
|
Rs 1,818
|
Rs 1,863
|
Rs 1,884
|
40
|
Rs 1,625
|
Rs 1,645
|
Rs 1,730
|
Rs 1,784
|
Rs 1,808
|
45
|
Rs 1,438
|
Rs 1,458
|
Rs 1,571
|
Rs 1,644
|
Rs 1,672
|
50
|
Rs 1,119
|
Rs 1,141
|
Rs 1,304
|
Rs 1,411
|
Rs 1,449
|
- Accidental Total and Permanent Disability Rider
- Accidental Death Benefit Rider
- Term Rider
- Critical Illness Rider
Eligibility
|
Minimum
|
Maximum
|
Sum Assured (in Rs.)
|
4,00,000
|
No Limit
|
Policy Term (in years)
|
10
|
|
Premium Payment Term (in years)
|
Single
|
|
Entry Age of Life Insured (in years)
|
18
|
50
|
Age at Maturity (in years)
|
-
|
60
|
Premium (in Rs.)
|
40,000
|
No Limit
|
Payment modes
|
Only Single
|
FAQs
Being a single premium plan, there is no requirement of further payment of premium.
Policy Year
|
Surrender Value
|
1
|
NA
|
2
|
Higher of 50% of MB and 80% of premium
|
3
|
Higher of 54% of MB and 80% of premium
|
4
|
Higher of 59% of MB and 90% of premium
|
5
|
Higher of 63% of MB and 90% of premium
|
6
|
Higher of 68% of MB and 90% of premium
|
7
|
Higher of 74% of MB and 90% of premium
|
8
|
Higher of 80% of MB and 100% of premium
|
9
|
Higher of 86% of MB and 100% of premium
|
10
|
Higher of 93% of MB and 100% of premium
|
Loan facility is available in this plan upto 90% of surrender value.