Edelweiss Life Insurance Wealth Builder Plan

Type

Non Linked Non Participating Endowment Assurance Plan

Coverage

Guaranteed Loyalty Addition – This is accrued during the start of policy year and is given as a percentage of accrued annualized premiums paid up till the previous policy year. GLA will be paid out on death or maturity and the period of accrual is as follows:

Basis

Individual

Policy term

10, 15, 20, 25 and 30 years

Premium paying term

5, 7, 10 and 12 years

Premium payment frequency

Annual – for all ages Yearly, half yearly and monthly

Renewability

Relapsed policies may be reinstated to full coverage within 2 years from due date of first unpaid premium by paying all outstanding premiums with simple interest of 1% per month from date of first unpaid premium. Proof of continued insurability and medical examination may be required.

Loans

Available after policy acquires Surrender Value. Maximum loan amount is 90% of policy surrender value. Interest will be charged at SBI Base Rate plus 1.75% p.a.

Grace period

Grace period of 30 days on all premium payment modes.

Free Look Period

15 days free look period is offered wherein a policyholder may return the policy if he/she is not agreeable to terms and conditions of the plan. 30 days free look period is policy is purchased through distance marketing channels. Refund of premium will be processed after adjustments for stamp duty, medical examination and proportionate risk premium for period covered.

Tax Benefits

Tax benefits are available under Section 80C, Section 80D and Section 10 (10D) of the Income Tax Act, 1961. Section 80D may also be invoked if you have purchased Critical Illness Rider. You should consult your tax advisor for more details.

Benefits Guarantee

Benefits are guaranteed upfront so as to remove any confusion or variations. Additional benefits through GLA

Premium rebate