India's 1st IRDAI Approved Insurance Web Aggregator

Edelweiss Tokio Life Triple Advantage Plan

  •  views
  •  views

Edelweiss Tokio Life – Triple Advantage Plan

Edelweiss Tokio Life – Triple Advantage Plan is a non-linked, participating life insurance plan. You can plan your life stage needs fulfillment as you earn a guaranteed lump sum benefit which is an amount equal to Sum Assured on Maturity payable twice during the policy term. The first payout will be paid at the end of premium payment term and the second payout at the end of policy year when Life Insured attains age of 75. In addition to this you will also receive

Sum Assured on
Maturity i.e when you attain age of 100 years. Also, your loved ones have total peace of mind as you have protection till 100 years of age


Key Features

1.Limited payment periods allow you to pay from your present income for your future needs
2 Get first lump-sum payout at the end of premium payment term
3 Get second lump-sum payout when you reach age 75
4 Get third lump-sum payout on maturity i.e. when you reach age 100
5 Get discounts for higher Sum Assured on Maturity
6 Loan facility to meet any urgent / unforeseen liquidity requirements
7 Option to make your cover more comprehensive through riders
 

Benefits

Death Benefit Higher of:
11 times of the Annualized Premium* OR
Sum Assured on Maturity
Maturity Benefit Minimum: Rs 2,00,000
Maximum: No Limit, Subject to Underwriting
Tax Benefit on Premiums Yes - under section 80c
Tax benefit on Death Benefit Yes - under section 10(10D)
 

Eligibility & other conditions

Eligibility MInimum/Maximum
entry age (last birthday) Minimum* : 91 days
Maximum : 55 years
*for entry age below 5 years, risk commences after 1 Year and 11 months from the date of commencement of the policy.
*for entry age of 5 years and above, risk commences immediately. 
maximum maturity age (last birthday) 100 years
policy term 100 Years less age at entry of the life insured
premium paying term 10, 15, 20 and 25 years 
sum assured on death Sum Assured on death higher of:
11 times of the Annualized Premium* OR Sum Assured on maturity
annualized premium is the premium payable in a year chosen by the policyholder excluding the underwriting extra premiums and loadings for modal premiums, if any. 
sum assured on maturity Minimum: 2 lakhs
Maximum: no limit 
premium payment frequency Annual, semi-annual, quarterly, monthly
 

Riders

The customer has an option of availing the following Rider benefits:
• Edelweiss Tokio Life - Accidental Death Benefit Rider (UIN: 147B002V02)
• Edelweiss Tokio Life - Accidental Total and Permanent Disability Rider (UIN: 147B001V02)
• Edelweiss Tokio Life - Term Rider (UIN: 147B004V02)
• Edelweiss Tokio Life - Critical Illness Rider (UIN: 147B005V02)
• Edelweiss Tokio Life - Waiver of Premium Rider (UIN: 147B003V02)
• Edelweiss Tokio Life - Payor Waiver Benefit Rider (UIN: 147B014V02)
• Edelweiss Tokio Life - Income Benefit Rider (147B015V01)
Rider Sum Assured cannot exceed the Sum Assured on Death. Total rider premium cannot exceed 30% of the base
product’s premium.
For more details on any of the riders mentioned above, please consult your Edelweiss Tokio Life Insurance Personal
Financial Advisor or refer to the rider brochure.

Other Benefits and Details

Reduced Paid-up Benefits
If all the premiums have been paid for at least first three consecutive years then the policy will not lapse and continue as a
‘Reduced Paid-up’ policy and all the benefits shall be reduced proportionately.
All the benefits will be multiplied by a paid up factor, where paid-up factor is as below:
Paid-up factor = (Number of premiums paid/ Number of premiums payable)
Paid-up Sum Assured on Maturity= Paid-up factor *Sum Assured on Maturity.
On the policy being paid-up, the benefits are as follows:

Reversionary Bonus
No further bonus will be declared for the Reduced Paid-up policy. The reversionary bonuses that have been declared so
far, and if not paid earlier, will be protected and paid on death or at the end of premium paying term, whichever is earlier.

Paid-up Guaranteed lump sum Benefit (GLB)
Paid-up GLB will be equal to GLB multiplied by paid-up factor.
• First paid-up GLB payout: At the end of the PPT
• Second paid-up GLB payout: At the end of policy year when Life Insured attains age 75.

Death Benefit
On death of the Life Insured, after the policy getting paid-up, the beneficiary will receive:
Till the end of premium paying term:
• 100% of Paid-up Sum Assured on Death PLUS
• Accrued bonuses declared till the policy gets paid-up
After the end of premium paying term when the accrued reversionary bonus (RB1) has been paid:
• 100% of Paid-up Sum Assured on Death
Paid-up Sum Assured on Death = Sum Assured on Death * Paid-up factor

Survival Benefit
Reversionary bonus (RB1) that has been declared before the policy gets paid-up will be protected and paid at the end of
PPT.
Paid-up GLB shall be payable on survival of Life Insured at the end of PPT and end of policy year when Life Insured attains
age 75. It will not be a part of death benefit.
The total survival benefit payable during the policy term is as follows:
At the end of PPT: Paid-up GLB plus RB1
At the end of policy year when Life Insured attains age 75: Paid-up GLB

Maturity Benefit
On maturity of the policy, the paid-up sum assured on maturity will be payable.
Further, the benefit payable on maturity shall never be less than 105% of total premiums paid to date.

Surrender Benefit
The Policy will acquire Surrender Value if all the premiums have been paid in full and received by Us for at least first three
policy years. On surrender, the Policy shall be terminated, the Surrender Value, if any, as calculated will be immediately
paid and all the Benefits under the Policy shall cease to apply. On surrender, the higher of the Guaranteed Surrender Value
or the Special Surrender Value will be payable.
The Guaranteed Surrender Value is a sum of surrender value of premiums and surrender value of accrued reversionary
bonuses, if not already paid.
Surrender Value of premium is a specific percentage of total premiums received by the Company (excluding any
premiums paid towards rider benefits, and underwriting extra) less Survival Benefits already paid till the date of
surrender.
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.
(Note - After attaining age 75 years and on payment of accrued Reversionary Bonuses (RB2), the Surrender Value of
bonuses will not be available and only Surrender Value of premiums will be made available)
Compare Pension Plans

Leave a Comment

Pension Plan Calculator