Edelweiss Tokio Life GCAP Plan

Life is all about planning. Plans help us achieve the goals we have for ourselves, professionally and financially. Work towards building not just your wealth but also protecting yourself from risks with the help of the Edelweiss Tokio Life – GCAP life insurance plan. This is a non-linked, non-participating life insurance plan which will help you maximize your wealth which can be generated from your income, so you can enjoy life to the fullest. What distinguishes this plan from other life insurance plans is, that with the Edelweiss Tokio Life Insurance – GCAP, you get to enjoy Guaranteed maturity benefit and death benefit, along with Guaranteed Accrual Addition.

Eligibility for Edelweiss Tokio Life – GCAP

Minimum age at Entry Applicant must be at least 91 days old
Maximum age at Entry Applicant must be not more than 55 years of age
Minimum age on Maturity Applicant must not be below 18 years of age
Maximum age on Maturity Applicant must not be over 70 years of age.

Key Features of Edelweiss Tokio Life – GCAP

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

Benefits / Advantages of Edelweiss Tokio Life – GCAP

  • Guaranteed Accrual Addition – Policyholders can benefit from Guaranteed Accrual Additions or GAA. This amount is calculated considering the policy term, annualized premium, premium paying term, age of entry and the gender of the life assured individual. Guaranteed Accrual Addition accumulates on an annual basis, beginning from the 9th policy year, up till maturity and is paid on death or maturity.
  • On Death of Life Insured – For policyholders with an entry age of 5 years and beyond, death benefit during and after the premium payment term will be Sum Assured on Death, along with Cumulative Guaranteed Accrual Addition. Policyholders with an entry age below 5 years will receive an amount calculated at 105% of total premium payments made till date of death (excluding any underwriting extras, rider premiums, service tax and cess).
  • On Maturity – Upon maturity of the plan, the policyholder will get Sum Assured on Maturity plus Cumulative Guaranteed Accrual Additions (CGAA).

Riders Available with Edelweiss Tokio Life – GCAP

  1. Edelweiss Tokio Life - Waiver of Premium Rider
  2. Edelweiss Tokio Life - Accidental Death Benefit Rider
  3. Edelweiss Tokio Life - Accidental Total & Permanent Disability Rider Term Rider
  4. Edelweiss Tokio Life - Payor Waiver Benefit Rider
  5. Edelweiss Tokio Life - Income Benefit Rider
  6. Edelweiss Tokio Life - Critical Illness Rider

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

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