Edelweiss Life Insurance Bharat Savings STAR Plan

Eligibility Criteria for Edelweiss Life Insurance Bharat Savings STAR Plan

Features of the Edelweiss Life Insurance Bharat Savings STAR Plan

Here are the key features of the Edelweiss Life Insurance Bharat Savings Star Plan:

• Pension Income Security Over a Long Period: The plan offers a stable, guaranteed income for up to 40 years of the policy term.
• Early Income Start: Depending on the payout frequency, income benefits can be initiated as early as the first month of termination.
• Flexible Income Accrual Option: Policyholders can choose to save income payouts and draw them out partially or in full in the future.
• Premium Break Benefit: The plan enables policyholders to make no premium payments for a specific period, and the policy remains in force. Designed for different financial objectives, Edelweiss Life investment plans help individuals build savings, achieve future goals, and secure their loved ones
• Preponement Of Future Income: Future income can be moved forward and paid earlier, in the form of a lump sum, where possible and as needed.

These features enable policyholders to adjust the plan according to their financial priorities.

Benefits of the Edelweiss Life Insurance Bharat Savings STAR Plan

Below are the primary benefits offered under the plan:

• Income Benefit: Policyholders receive regular income according to their plan choice and payout frequency.
• Maturity Benefit: Where the insured is alive on the date of the policy, the lump sum of the final payout of the income and maturity value assured will be paid.
• Death Benefit: The policy terms of the sum assured on death are paid to the nominee in the event of the death of the life insured at the time the policy terminates.
• Income Accumulation Benefit: The income payouts may be accumulated with interest and withdrawn later on in the policy term if not withdrawn.

These advantages provide income security, financial security, and savings growth.

Riders Under the Edelweiss Life Insurance Bharat Savings STAR Plan

Riders enhance the base policy by providing additional protection against specific risks.

• Accidental Death Benefit Rider: It will be used to provide extra financial coverage in case of accidental death of the insured.
• Accidental Total and Permanent Disability Rider: It provides a lump-sum payout upon an accident that permanently disables the insured.
• Critical Illness Rider: It is a lump-sum payment made to the insured when he or she is diagnosed with any of the mentioned critical illnesses covered under the rider.
• Waiver of Premium Rider: This waives all future premium payments if the insured becomes disabled or contracts a critical illness, keeping the policy in force.

Policy Details of Edelweiss Life Insurance Bharat Savings STAR Plan

1. Grace Period

   A grace period of 15 days for monthly premiums and 30 days for other payment modes is provided to pay due premiums without policy lapse.

2. Revival

   If premiums are not paid within the grace period, the policy may lapse. However, it can be revived within five years from the first unpaid premium by paying outstanding premiums with applicable interest.

3. Free Look Period

   Policyholders have 30 days from receipt of the policy document to review the policy terms and cancel it if not satisfied.

4. Surrender

   The policy acquires surrender value after the payment of at least one full year’s premium. The surrender value payable will be the higher of the guaranteed surrender value or the special surrender value.

5. Fund Switching

   Fund switching is not applicable to this non-linked savings plan. Selecting the best investment plans in 2026 allows individuals to secure their future while growing their wealth through structured financial strategies.

6. Loan

   A loan can be availed once the policy acquires surrender value. The maximum loan amount available is up to 60% of the surrender value.

Exclusions Under the Edelweiss Life Insurance Bharat Savings STAR Plan

Suicide Clause

If the life insured dies by suicide within 12 months from policy commencement or revival, the nominee receives at least 80% of the total premiums paid or the surrender value, whichever is higher.