Edelweiss Tokio Life Cash Income Plan

Edelweiss Tokio Life- Cash Income Plan is a non participating, non linked life insurance plan that offers the benefit of both savings and protection. Life cover increases in the first 40 years of the policy.

Eligibility criteria for Edelweiss Tokio Life – Cash Income Plan

Listed below is the eligibility criteria for Edelweiss Tokio Life- Cash Income Plan

Eligibility factor Eligibility criteria
Minimum age at the time of entry 91 days
Maximum age at the time of entry 51 years
Minimum age at maturity 100 years
Maximum age at maturity Not available
Policy term (100 years- Age at the time of entry)
Premium payment term 20 years
Minimum premium amount Rs. 25,000
Maximum premium amount No cap on the maximum premium amount
Minimum basic sum assured Rs. 2,65,000
Maximum basic sum assured There is no cap on the maximum sum assured

Key features of Edelweiss Tokio Life – Cash Income Plan

Listed below is the eligibility criteria of Edelweiss Tokio Life – Cash Income Plan

Type Whole life insurance plan
Basis Individual
Policy terms 100 years- Age at the time of entry
Premium payment term 20 years
Premium payment mode Monthly, Quarterly, bi annually, annually
Death benefit In case of death of insured, sum assured will be paid in lump sum as death benefit. The sum assured amount paid will be equal to or higher than the following three options:
  • 10 times the annualised premium
  • 105% of the premiums paid till death
  • Minimum guaranteed sum assured on maturity
Maturity benefit A guaranteed sum assured will be paid in lump sum as maturity benefit once the policy attains the date of maturity. The maturity amount is equal to 100% sum assured.
Lump sum benefit On survival of the life insured till the end of the policy, the insured will be paid a lump sum amount( certain % of the sum assured amount)
Free look period 15 days
Policy loan Policy loan is available under the plan once it acquires surrender value. One can avail loan up to 90% of the surrender value amount.
Grace period Grace period is not applicable for this policy
Policy cover Death benefit and maturity benefit
Revivals/ Reinstatement The policy can be revived within 2 years from the date of the first unpaid premium.
Nomination The insured can make a nomination any time before the maturity of the policy or the termination of the policy.
Tax benefits The policy qualifies for tax benefits under section 80c of the Income Tax Act, 1961

Benefits of Edelweiss Tokio Life – Cash Income Plan

Listed below are the benefits of Edelweiss Tokio Life- Cash Income Plan

  • Death benefit- Death benefit is paid in the form of sum assured in case of unfortunate death of the insured. The payment will be paid as a lumpsum amount.
  • Maturity benefit- Maturity benefit will be paid at the end of the policy term (on maturity). The maturity benefit amount is equal to 100% sum assured.
  • Survival benefit- On survival of the life insured till the end of the policy, the insured will be paid a lump sum amount( certain % of the sum assured amount)
  • Loan benefit- One can avail loan up to 90% of the surrender value once the loan acquires the surrender value.
  • Tax benefits- The policy qualifies for tax benefits under the Indian Income Tax Act, 1961.
  • Can be easily purchased online
  • Hassle free application process

Edelweiss Tokio Life- Cash Income Plan Riders

  • Edelweiss Tokio Life – Accidental Total and Permanent Disability Rider
  • Edelweiss Tokio Life – Accidental Death Benefit Rider
  • Edelweiss Tokio Life – Waiver of Premium Rider
  • Edelweiss Tokio Life – Term Rider
  • Edelweiss Tokio Life – Critical Illness Rider
  • Edelweiss Tokio Life – Payor Waiver Benefit Rider

GST of 18% is applicable on life insurance effective from the 1st of July, 2017

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