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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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