Edelweiss Tokio Life Easy Pension Plan

In an economic uncertain time such as this, it is important for everyone to be aware of their finances and ensure that they have adequate monetary funds to help them throughout their life, especially when they are not in a position to earn such as during retirement. Retirement is always spoken about as being a golden period in one’s life, a time when people can sit back and reap the rewards of all their hard work. However, this will not be possible unless customers save up for their sunset years and manage their finances prudently.

Procuring a retirement savings plan is one of the best ways to ensure this. The Easy Pension Plan by Edelweiss Tokio Life Insurance provides customers with their own fund value in the form of a lump sum amount at a retirement age of their choosing.

Eligibility Conditions for Edelweiss Tokio Life - Easy Pension

Minimum Age of Entry 18 years
Maximum Age of Entry 75 years as of last birthday
Minimum Age of Maturity 45 years
Maximum Age of Maturity 85 years
Policy Tenure 10 years - 67 years
Premium Paying Tenure Single Pay, Limited Pay [5 Pay to (Policy tenure - 5)] and Regular Pay
Frequency of Premium Payment Single Pay, Yearly, Half-Yearly, Quarterly, Monthly
Minimum Premium
Single Pay Rs. 45,000
Regular/Limited Pay
Yearly Rs. 15,000
Half-Yearly Rs. 8000
Quarterly Rs. 4000
Monthly Rs. 1500

Key Features of Edelweiss Tokio Life - Easy Pension

Plan Type Non-Participating Linked Pension Plan
Plan Basis Individual
Vesting Benefits Applicable
Death Benefit Applicable
Loan Not available
Free Look Period 15 days 30 days if policy is sold through distance marketing
Surrender Benefit Not available
Tax Benefits Applicable if requested before completion of fifth policy year. Post this period, only fund value will be provided.
Nomination Allowed
Assignment Allowed
Grace Period 30 days for all modes except for monthly which is 15 days.
Rider(s) Not available

Benefits of Edelweiss Tokio Life - Easy Pension

Edelweiss Tokio Life - Easy Pension plan comes with a plethora of benefits. Some of them are -

  • In case of untimely death of life insured, the nominee will receive a higher of guaranteed benefit, fund value and 105 percent of total premiums that have been paid till death.
  • On vesting of plan, customers will receive a higher of guaranteed benefit, fund value at maturity and guaranteed benefit is 101 percent all premiums paid until maturity.
  • Additions are also added to policy on certain conditions.

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

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