Edelweiss Tokio Life Income Replacement – Features & Benefits

This is a non-linked, non-participating life insurance plan. The plan aims to provide a cost-friendly solution for protecting your aspirations for your loved ones.

•	To maintain continuity of income on death of the life assured the plan provides a monthly income till the end of policy term
•	Monthly benefit will be provided for minimum of 5 years even if the remaining Policy Term is less than 5 years
•	Monthly benefit increases by 5% every year to mitigate the inflation effects
•	You can choose to pay premium for a limited period while you enjoy protection for a longer period
•	The cost of protection reduces for higher Sum Assured
•	Avail lower rates for leading a healthy life style. E.g.: Non- consumption of Tobacco

Plan Summary –

Entry Age of life Insured (last birthday)	18 to 60 years of age
Maturity Age( last birthday)	28 to 70 years of age
Policy Term (PT)	10 to 30 years
Premium Paying Term (PPT)	Single 5,10,15 and Regular
Premium Payment Frequency	Annual
Minimum Monthly Benefits	Rs.15000/- (multiple of 1000) Sum Assured is calculated as: Monthly benefits amount x 12 x policy term
Maximum Monthly Benefits	No Limit, subject to underwriting Discount available for non tobacco user Discount available for higher sum assured

*For policy Term 20 and above only,# For policy term 25 and above only.

$ Product offers discounted premium rates to non Tobacco users for monthly benefits of Rs.25000/- and above.

Benefits Summary –

When are benefits payable?	How are the benefits payable?	What are the benefits?
a) On Death of life Assured	Payable when the unfortunate event of death of life assured has been confirmed.	Chosen ‘Monthly Benefits’ will be paid monthly in arrear increasing at 5% every policy year to the nominee till the end of the term or 5 year, whichever is later
b) On Survival	No benefits during policy term	None
c) On Maturity	No benefits	None

Surrender –

Premium Paying Term	Clause	Surrender Value
Single Pay	Surrenders are not allowed in the first year. The policy may be surrendered from the second year onwards	Single Premium (exclusive of service tax) 70% {Number of remaining complete months of cover/total policy term in months}^2
5 or 10 or 15 pay	Surrender benefits is zero during premium paying term	Total Premium paid (exclusive of service tax) 70% {Number of remaining complete months of cover/Total policy term in months}^2
Regular Pay	No Restrictions	No Benefits is available

Loan on Policy –

Loan facility is not available under this plan.

Paid up benefits –

No Paid up benefits is available

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Tags: Income Replacement

Edelweiss Tokio Life Income Replacement – Features & Benefits

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