Edelweiss Life Insurance GCAP Plan

Plan Type

Non-linked, non-participating Guaranteed Return life insurance plan

Plan Basis

Individual

Premium Payment Terms

Premium for this life insurance plan can be paid over a period of 5, 7, 10 or 12 years.

Policy Term

This policy can be taken for a term of 10, 15, 20, 25 or 30 years.

Maturity Benefits

Upon maturity of the plan, the policyholder will get Sum Assured on Maturity plus Cumulative Guaranteed Accrual Additions (CGAA).

Premium Payment Frequency / Mode

Payments of premiums can be done on an annual, semi-annual, quarterly or monthly basis.

Policy Loan

Policyholders may avail a loan under this policy. Loans will be available only when the policy has acquired surrender value. The maximum amount of loan available will be 90% of surrender value of the policy as offered by the company. Interest will be levied on the remaining amount of loan, the rate for which will be decided by the company, subject to change depending on the prevailing market conditions. The rate of interest will be equivalent to the base rate offered by SBI + 1.75%, for each year. Current rate of interest for loans stands at 11.75% per annum.

Medicals

Medical examination may be required to be carried out by Life Insurance applicant.

Free Look period

A free look period of 15 days will be permitted, from the date of receipt of the policy document. For policies which are received via distance marketing, a free look period of 30 days is allowed.

Grace period

Policyholders will be allowed a grace period of 30 days for all modes of premium payment. Policy will continue to be in-force during the grace period.

Policy Revival

The policy will lapse if any due premium remains unpaid after the grace period is over. The lapsed policy can be revived within a period of two years, counting from the date of first unpaid premium.

Nomination

Nomination is allowed as per Section 39 of the Insurance Act, 1938.

Sum Assured on Death (Min. & Max.)

Minimum - Rs 1,65,000; Maximum - No limit

Sum Assured on Maturity

Cumulative of Annualized Premium