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)
|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