A new non-linked and non-participating life insurance has been launched by Edelweiss Tokio Life Insurance which provides a combination of protection and savings. The name of the plan is Edelweiss Tokio Life- Wealth Builder and it guarantees all the benefits at the beginning of the policy.
- Minimum entry age: 91 days
- Maximum maturity age: 70 years
- Policy Term: 10 to 30 years
- Mode of payment: monthly, semi annually or annually
- Premium Paying Term: 5, 7, 10 or 12 years
Along with Tax benefits under section 80 C and 10(10D), this plan also provides a “Guaranteed Loyalty Additions (GLA)” which depends upon policy term, premium, premium paying term, gender of the life assured and entry age. A press release issued by the company states that the accrued GLA is payable on death or on maturity.
The cumulative annualised premium is the sum assured on maturity. In case the policyholder dies then the death sum assured ranges from 10 to 13 times of the annualised premiums. The death benefit is at least equal to 115% of the annualised premiums that are paid until the date of death.
This plan also has other features like loan facility, 15-day free look period and options for riders like total & permanent disability cover, accidental death benefit, critical illness and likewise.
- Cashless Economy Brings Significant Insurance Premium Discounts
In addition to discounts on diesel and petrol and exemption on...
- New Delhi Marathon to be sponsored by IDBI Federal Life Insurance
The inaugural edition of the New Delhi Marathon will be sponsored by...
- Micro-Insurance Business Of Bajaj Allianz Life Expected To Grow
In spite of its overall life insurance business getting a slight...
- Postal Life Insurance Scheme for Girl Child and Women
For a family, having a child plan is a vital requirement, as it helps...
- Reliance Life Insurance Introduces an Online Life Cover Plan of Rs One Crore
Reliance Life Insurance Company has recently come up with Reliance...
- Modi Government Launches 3 Social Security Schemes
Prime Minister Narendra Modi has launched three new social security...