Edelweiss Tokio Life – Milestones Plan

Death Benefit

In the event of unfortunate demise of the life insured, 100% of sum assured plus accrued bonuses till the date of death is payable. The death benefit payable is irrespective of total survival benefit already paid.

Survival Benefit

On survival of the life insured, cash back which is a percentage of the sum assured is payable.

• For 16 year policy term, it is 20% payable at the end of 4^th, 8^th & 12^th policy year.
• For 20 year policy term, it is 15% payable at the end of 4^th, 8^th, 12^th & 16^th policy year.
• For 25 year policy term, it is 15% payable at the end of 5^th, 10^th, 15^th & 20^th policy year.
• For 30 year policy term, it is 15% payable at the end of 6^th, 12^th, 18^th & 24^th policy year.

Maturity Benefit

In case of survival of the life insured till maturity, 40% of Sum Assured plus accrued bonuses till maturity is payable as a lump sum.

Bonus

Accrued reversionary bonuses (as applicable) are payable under this policy.

Loan Benefit

No loan can be availed under this policy.

Surrender Value

Surrender Value payable is higher of Guaranteed Surrender Value and Special Surrender Value. Surrender Value can be acquired on payment of all premiums for at least 3 policy years.

Tax Benefit

The premiums paid under this policy is eligible for tax benefit under section 80C, policy proceeds enjoy the tax benefit under section 10 (10D) of the Income Tax Act. You can also avail tax benefit for premium paid towards critical illness riders under section 80D of the Income Tax Act, 1961.

Following riders can be opted, on payment of additional premium under this plan:

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

Hitesh is looking to buy a plan that can ensure regular cash back at specific milestones plus maturity payout along with the life cover. He at the 30 years of age thus decides to buy Edelweiss Tokio Life – Milestones Plan with the policy term of 25 years and premium pay term of 20 years, pays annual premium of Rs 54,000 and the sum assured is Rs 10 Lacs.

Scenario A: Hitesh Survives the Policy Term

On survival of Hitesh, he receives regular cash back of 15% of sum assured payable at the end of 5^th, 10^th, 15^th & 20^th policy year. If he survives till the maturity of the policy term, 40% of Sum Assured plus accrued bonuses is also payable as a lump sum.

Scenario B: Hitesh dies during the Term of the Policy

In the event of the demise of Hitesh at 22^nd policy year, 100% of sum assured plus accrued bonuses till the date of death is payable as a lump sum.

Premium Illustration: