Edelweiss Life Insurance Legacy Plus Plan

Eligibility Criteria for the Edelweiss Life Insurance Legacy Plus Plan

The policy matures at age 100 under both options.

Features of the Edelweiss Life Insurance Legacy Plus Plan

Some of the key features of the Edelweiss Life Insurance Legacy Plus Plan include:

• This plan consists of guaranteed income paid in the first year of the policy, subject to the payment of all necessary premiums, and the policy remains active.
• There are two types of plans available:
• Lifelong Income Option
• Family Secure Option
• It is based on whether you can afford single life or joint life cover.
• Under the Family Secure Option, the plan provides two lives under a single policy to provide longer financial security.
• The plan involves profits; that is, Cash Bonus and Terminal Bonus can be awarded based on the performance of the participating fund.
• It provides the flexibility to accrue survival benefits, allowing you to add or deduct payouts as your financial needs change.

You can also explore other Edelweiss Life Investment Plans to compare income, savings, and wealth creation options offered by the insurer.

Benefits of the Edelweiss Life Insurance Legacy Plus Plan

The Edelweiss Life Insurance Legacy Plus Plan offers a combination of income and protection benefits. Some of the key benefits are:

• Survival Benefit: Under both plan options, regular income is payable annually from the first policy year until maturity or earlier death, provided the policy is in force. The regular income includes Guaranteed Income and Cash Bonus, if declared.
• Maturity Benefit: On survival until maturity, the sum assured on maturity, along with Terminal Bonus, if declared, will be payable.
• Death Benefit:
• Lifelong Income Option: In case of death, the Sum Assured on Death, along with Terminal Bonus, if declared, will be paid. The death benefit will not be less than 105% of total premiums paid or 10 times the annual premium, whichever is higher.
• Family Secure Option: In this plan, the discrepancies are arranged differently for each of the primary and secondary lives in the death benefit. In the event of the first death, there is the payment of a lump sum benefit as the policy continues till the surviving life.

At any point, the death benefit will not be less than the applicable surrender value.

Policy Details of the Edelweiss Life Insurance Legacy Plus Plan

The following are the policy details of the Edelweiss Life Insurance Legacy Plus Plan:

1. Grace Period

   There is a grace period during which you may pay overdue premiums. The policy has remained active in this period following the policy terms.

2. Revival

   A lapsed policy can be reinstated during the revival period only after all due premiums are paid, subject to underwriting.

3. Free Look Period

   In case you fail to be satisfied with the policy, then you can repudiate the policy within the stipulated period of free look after the policy document was received.

4. Surrender

   The policy acquires a surrender value after one full year of premium payments. This value will be paid out in accordance with the policy terms.

5. Loan

   Once the policy acquires surrender value, you may be eligible to avail a loan against the policy, subject to applicable terms and conditions.

   This plan falls under the investment plans category, which integrates long-term savings with life insurance cover.

Exclusions Under the Edelweiss Life Legacy Plus

Suicidal Clause

The benefit will be payable in case of death as a result of suicide within the period of 12 months after the commencement or revival date on the policy provisions.