Edelweiss Tokio Life Single Pay Endowment Assurance Plan

Edelweiss Tokio Life – Single Pay Endowment Assurance Plan is a single payment, endowment plan that offers guaranteed benefits for over ten years. The plan not only offers life cover but provides the insured a chance to build on their wealth.

Eligibility Criteria of Edelweiss Tokio Life – Single Pay Endowment Assurance Plan

Listed below is the eligibility criteria for Edelweiss Tokio Life – Single Pay Endowment Assurance Plan

Eligibility factor Eligibility criteria
Minimum age at the time of entry 8 years
Maximum age at the time of entry 50 years
Maximum age at maturity 60 years
Policy term 10 years
Premium payment term It is a single premium payment plan
Minimum single premium amount Rs. 40,000
Maximum single premium amount There is no cap on maximum premium payment
Minimum basic sum assured Rs. 4,00,000
Maximum basic sum assured No limit. Subject to underwriting

Key features of Edelweiss Tokio Life – Single Pay Endowment Assurance Plan

Listed below are the key features of Edelweiss Tokio Life – Single Pay Endowment Assurance Plan

Type Endowment plan
Basis Individual
Policy terms 10 years
Premium payment terms Single premium payment
Premium payment mode Single premium payment at the beginning of the policy
Death benefit In case of death of insured, sum assured will be paid in lump sum as death benefit. The sum assured payable is equal to ten times the single premium.
Maturity benefit A guaranteed maturity benefit amount will be paid in lump sum as maturity benefit once the policy attains the date of maturity. The amount depends on the age, gender and premium band.
Surrender value The policy can be surrendered after completion of one year.
Free look period 15 days (30 days for distance marketing)
Grace period Grace period is not applicable for this policy
Policy cover Death benefit and maturity benefit
Policy loan Loan facility is available under the policy once it attains surrender value
Revivals/ Reinstatement Not applicable for this policy
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 – Single Pay Endowment Assurance Plan

Listed below are the benefits of Edelweiss Tokio Life – Single Pay Endowment Assurance Plan

  • Death benefit - In case of death of insured, sum assured will be paid in lump sum as death benefit. The sum assured payable is equal to ten times
  • Maturity benefit - A guaranteed maturity benefit amount will be paid in lump sum as maturity benefit once the policy attains the date of maturity. The amount depends on the age, gender and premium band.
  • Tax benefits - Tax benefits are provided under various sections of the Indian Income Tax Act, 1961
  • Provides comprehensive cover of 10 times the single premium
  • Option to choose the wealth enhancement need
  • Offers loan facility
  • Edelweiss Tokio Life Insurance can be applied for online
  • Hassle free application process

Riders for Edelweiss Tokio Life – Single Pay Endowment Assurance Plan

Given below is a list of riders that can be added on to the policy in order to enhance its cover

  • Edelweiss Tokio Life - Accidental Total and Permanent Disability Rider
  • Edelweiss Tokio Life - Accidental Death Benefit Rider
  • Edelweiss Tokio Life - Term Rider
  • Edelweiss Tokio Life - Critical Illness Rider

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

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

reTH65gcmBgCJ7k
This Page is BLOCKED as it is using Iframes.