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Edelweiss Tokio Life Wealth Enhancement Ace Plan (ULIP)

Edelweiss Tokio Life- Wealth Enhancement Ace is an ULIP Plan that offers sufficient life cover along with returns.

Eligibility criteria for Edelweiss Tokio Life – Wealth Enhancement Ace(ULIP)

Listed below is the eligibility criteria for Edelweiss Tokio Life- Wealth Enhancement Ace(ULIP)

Eligibility factor Eligibility criteria
Minimum age at the time of entry 18 years
Maximum age at the time of entry 45 years
Minimum age at maturity 28 years
Maximum age at maturity 55 years
Policy term 10 years
Premium payment term It is a single premium payment plan
Minimum single premium amount Rs. 1,000
Maximum single premium amount Option A- Rs. 5,000 Option B- Rs. 2,500
Minimum basic sum assured Rs. 5,000
Maximum basic sum assured Rs. 25,000

Key features of Edelweiss Tokio Life – Wealth Enhancement Ace(ULIP)

Listed below is the eligibility criteria for Edelweiss Tokio Life – Wealth Enhancement Ace(ULIP)

Type ULIP
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. There are two cover options available under the plan. In the first option, sum assured paid is equal to five times the single premium. In the second option, the sum assured is equal to ten times the single premium.
Maturity benefit A guaranteed sum assured will be paid in lump sum as maturity benefit once the policy attains the date of maturity.
Surrender value If the surrender request is made within the first year of the policy, the application will be accepted but the surrender value will be paid only at the end of the policy 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
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 – Wealth Enhancement Ace(ULIP)

Listed below are the benefits of Edelweiss Tokio Life- Dhan Nivesh Bima Yojana.

  • 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.
  • Maturity benefit - Maturity benefit will be paid at the end of the policy term (on maturity). The sum assured amount will be paid in lump sum as maturity benefit.
  • Surrender benefit - If the policy is surrendered in the first year of the policy, the surrender benefit will be paid at the end of the first year of the policy.
  • Tax benefits - The policy qualifies for tax benefits under the Indian Income Tax Act, 1961.
  • Edelweiss Tokio Life Insurance can be easily purchased online
  • Hassle free application process

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

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