Edelweiss Tokio Life – Triple Advantage Plan

• Receive three lump sum payouts
• Life cover till 100 years
• Limited premium payment
• Discounts for higher Sum Assured on Maturity
• Discounted Premium rate for female lives
• Premium Discount of 3% when buying policy directly from company website
• Loan facility to meet financial contingency
• Riders to enhance the cover
• Tax benefits

Death Benefit

Following is the death benefit payable:
 

For Life Insured with entry age below 5 years

For minor lives, when the entry age is below 5 years, in the event of death during the first 1 year and 11 months of the policy, 105% of total premiums paid till the date of death is payable. After completion of 1 year and 11 months from the date of commencement of the policy, the death benefit is the same as for entry age of 5 years and above.
 

For Life Insured with entry age of 5 years & above

Till the end of PPT: Sum Assured on Death Plus accrued Reversionary Bonus (RB1)

After the end of PPT till end of policy year when Life Insured attains age 75 years: Sum Assured on Death Plus accrued Reversionary Bonus (RB2)

After attaining age 75 years: Sum Assured on Death. Here, the Sum Assured on Death during the policy term is the higher of 11 times of the Annualized Premium or Guaranteed Sum Assured on Maturity.

The amount payable as Death Benefit is reduced by the outstanding loan amount, accumulated interest and due premiums or the unpaid premiums during the policy year in case of death.

The death benefit shall not be less than 105% of total premiums paid, till the date of death.

Maturity Benefit

The maturity benefit payable is Sum Assured on Maturity Plus terminal bonus. The total maturity benefit shall not be less than 105% of total annualized premium paid, as on the date of maturity.

Survival Benefit

Guaranteed Lump Sum Benefit (GLB) is a survival benefit payable only upon the survival of the life insured at the end of the Premium Paying Term and at the end of policy year when Life Insured attains age 75 and is equal to Sum Assured on Maturity.

GLB is not a part of the death benefit. Any amount payable towards the Survival Benefit is reduced by the outstanding loan amount and accumulated interest.

Bonus

Reversionary Bonus (RB) is a non-guaranteed benefit payable during the policy term based on the performance of the Par Fund.

Reversionary Bonus during PPT (RB1): It accrues every year from the first policy year till the end of premium paying term and is payable on death or at the end of premium paying term, whichever is earlier.

Reversionary Bonus after PPT (RB2): It accrues every year from one year after the premium paying term till the end of the policy year when the Life Insured attains age 75. It is payable on death or at the end of policy year when Life Insured attains age 75, whichever is earlier.

Terminal Bonus is also payable under this plan.

Loan Benefit

You can avail loan benefit up to 90% of the surrender value.

Surrender Value

The surrender value can be acquired on payment of all due premiums for at least first three policy years. The surrender value payable is the higher of Guaranteed Surrender Value or Special Surrender Value.

This plan offers following riders, on payment of additional rider premium:

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

You can avail tax benefits under Section 80C and Section 10 (10D) of the Income Tax Act, 1961. Premium paid for Critical Illness Rider qualify for deduction under Section 80D of the Income Tax Act, 1961, subject to change in the tax laws.

Madhukar aged at 30 years is planning for his retirement and looking for a plan that can ensure a regular income plus protection till 100 years of age. He thus chooses Edelweiss Tokio Life – Triple Advantage Plan with the policy term of 70 years, premium payment term of 15 years, and sum assured is Rs 5 Lacs with annual premium of Rs 52,815.

Scenario I: Madhukar Survives till 100 years

In case of Madhukar’s survival till maturity/vesting, The maturity benefit payable is Sum Assured on Maturity Plus terminal bonus. Guaranteed Lump Sum Benefit is also payable at the end of the Premium Paying Term and at the end of the policy year when he attains 75 years. Reversionary Bonus (as applicable) may also be payable.

Scenario II: Madhukar dies during the Term of the Policy

In the event of the demise of Madhukar at 38 years, Sum Assured on Death Plus accrued Reversionary Bonus (RB1). A lump sum of Rs 5 Lacs or above is payable, as Death Benefit.

Benefit Illustration: