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Edelweiss Tokio Life Guaranteed Income Plan
Edelweiss Tokio Life Guaranteed Income Plan is a traditional Endowment Assurance Plan which enables savings for future requirements and also provides life insurance cover for protection purposes.
Eligibility
Edelweiss Tokio Life Guaranteed Income Plan is a traditional Endowment Assurance Plan which enables savings for future requirements and also provides life insurance cover for protection purposes.
Benefits
On maturity, 200% of the annual premium is paid starting form the end of term for 15 years The policyholder can avail the payouts in lump sum any time during the payout period discounted @ 9% On death during the policy term higher of 10 times the annual premium or 125% of annual premiums paid till death or lumps sum amount payable on maturity On death post the end of term, the payouts continue as and when they accrue Income tax benefit under Sections 80C and 10(10D) for premiums paid and claims received respectively
Key Features
This plan is a non-participating traditional Endowment plan with regular premium payment term The plan promises guaranteed regular annual payouts after maturity for 15 years
Product Specification:
Policy Details Grace Period: 30 days grace period is allowed for premium payment in all modes Policy Termination or Surrender Benefit: the policy can be surrendered anytime if 2 full years premiums have been paid. The Surrender value will be higher of the Guaranteed Surrender Value (GSV) or Special Surrender Value (SSV) GSV = (% of all Premiums paid) SSV = (number of premiums paid/15) * SSV Factor * lump sum maturity benefit Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim. Inclusions The policy provides loan facility of up to 90% of the Surrender value.