Edelweiss Tokio Life Single Pay Endowment Assurance Plan

Key Features

• This plan is a non-participating traditional Endowment plan with Single pay premium payment term

Benefits

• On maturity, Guaranteed Maturity Benefit is paid which depends on age, sex and premium range
• On death, Sum Assured is payable which is equal to 10 times the Single premium paid
• Income tax benefit under Sections 80C and 10(10D) for premiums paid and claims received respectively

Product Specification:

Details about Premium

Premium in Rupees and Maturity benefit illustration

Policy Details

Grace Period: grace period is not applicable for single pay plans

Policy Termination or Surrender Benefit: the policy can be surrendered anytime if 1 full year’s premium has been paid. The Surrender value will be higher of the applicable % of the Maturity Benefit or applicable % of the Single premium Paid. The applicable % depends on the year of surrender

Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.

Inclusions

The policy provides loan facility of up to 90% of the Surrender value

Additional Features or Riders

• Higher Maturity Benefits for female lives aged 11 years and above
• The following riders are available under the plan:

1. Edelweiss Tokio Life Accidental Death Benefit Rider
2. Edelweiss Tokio Life Accidental Total and Permanent Disability Rider
3. Edelweiss Tokio Life Term Rider
4. Edelweiss Tokio Life Critical Illness Rider

Exclusions

In case of suicide within 12 months from inception, 90% of the premiums paid is refunded

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and other KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.