Edelweiss Tokio Life Immediate Annuity Plan

Edelweiss Tokio Life Immediate Annuity Plan is a traditional pension plan providing annuity payouts immediately after paying the lump sum payment to ensure regular cash inflows even after retirement for a worry-free life.

Key Features

  • It is an Immediate Annuity Plan with single premium option where the annuity starts immediately after premium payment from the next chosen date
  • The annuity options can be chosen for a single life (policyholder) or for joint life (policyholder and spouse)
  • The annuity options are:
    • Life Annuity
    • Lifetime Annuity with Return of 100% of Purchase Price
    • Life Annuity guaranteed for 5/10/15 or 20 years
    • Life Annuity increasing at a simple rate of 3% or 5% p.a.
    • Joint Life Last Survivor
    • Joint Life Last Survivor with 50% annuity
    • Joint Life Last Survivor with Return of Purchase Price on last death

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Benefits

  • Annuity payouts will be paid as per the frequency chosen immediately after the premium paid
  • Income tax benefit on the premium paid as per Section 80CCC of the Income Tax Act.

Product Specification:

 

Minimum

Maximum

Entry Age (Last Birthday)

45 years

85 years

Purchase Price

100,000

No limit

Yearly Annuity Payout

Depends on the purchase price and the entry age

Annuity payout Frequency

Monthly, quarterly, half-yearly, yearly

Read Also: Different Types of Annuity


Policy Details

Grace Period: Grace period is not applicable.

Policy Termination or Surrender Benefit: there is no Surrender Value under the plan.

Free Look Period: the free look period is not applicable under the plan.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Inclusions

  • Loan is not available under the plan.

Additional Features or Riders

  • The annuity rates are higher for female lives.
  • Higher annuity rates for Purchase price range of 3 lakhs and above.

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.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Average Rating
(Based on 0 Reviews)
Newsletter
Sign up for newsletter
Sign up our newsletter and get email about health plans.

Edelweiss Tokio Life Immediate Annuity Plan Reviews & Ratings

0 / 5 (Based on 7 Reviews)
(Showing Newest 7 reviews)
Parul
Punjab, August 02, 2021
Inexpensive term plan
My friend is 30 year old and I am 25 years old and noticed a difference in our term plan price. I visited Policybazaar and read some blogs there. I found out that term plans are cheaper if you buy at young age. I am glad to buy this plan at the right time.
Amrita
Chail, August 02, 2021
Tax savings
I recently bought a term insurance policy from the website of Policybazaar. My plan has amazing features and some additional benefits due to an addon. The best part is I can also enjoy a tax rebate. I am so glad to buy this plan.
Pratap
Niwari, August 02, 2021
Purchased Online
My friend asked me to buy a term insurance plan online as it is cheaper and more convenient. I visited the website of Policybazaar and bought a term policy which offers great benefits at cheap rates. My online experience has been great. Thank you team.
Anurag
Modinagar, August 02, 2021
Protection against COVID
The pandemic had me worrying about the future of my family in my absence. I have been searching for a pure insurance policy to safeguard my family against any eventuality. With the help of Policybazaar now I my family is secure as a bought a specialized term plan made to help family of the policyholder.
Kashish
Meerut, August 02, 2021
Best customer service
I did not understand much about insurance but I knew one thing that I needed to secure the future of my family. I took help from the team of Policybazaar and they suggested me what would be best for me. I am happy with my plan. Thank you so much team.
Komal
Palwal, August 02, 2021
Huge coverage
I recently bought a term plan from the website of Policybazaar and I am happy with the product. I got a higher coverage term plan with additional benefits and at cost effective price. Now I am worry free for the future security of my family in my absence. Thanks.
Harisha
Gurgaon, August 02, 2021
Quick to buy
My friend suggested me to buy a term insurance plan online. I visited the website of Policybazaar and it took me about half an hour or maybe less to buy the plan online. The experience was smooth and I am happy with my plan. Kudos team.
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL