Edelweiss Life Insurance Active Pension Plus Advantage Plan

Eligibility Criteria for the Edelweiss Life Insurance Active Pension Plus Plan

Below are the key eligibility details under the Edelweiss Life Insurance Active Pension Plus Plan:

Minimum annuity instalment in pension plan starts from ₹1,000 per month, depending on the payout mode selected.

Features of the Edelweiss Life Insurance Active Pension Plus Plan

• Provides a guaranteed regular annuity for life.

• Offers Immediate and Deferred annuity benefit types.

• Allows coverage on a Single Life or a Joint Life basis.

• Option to choose Return Of Purchase Price on death.

• Multiple annuity payout modes: Yearly, Half-Yearly, Quarterly, or Monthly.

• Multiple premium payment options are available under the deferred annuity option.

• Option to change annuity payout mode, effective from the next policy anniversary.

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 Active Pension Plus Plan

The Edelweiss Life Insurance Active Pension Plus Plan is designed to provide the participant with consistent retirement planning and consistent 

income, as well as defined death benefits. Here are some of the key benefits:

• Survival Benefit: During an Immediate Annuity, the payouts commence according to the mode that may be chosen. In the case of a deferred annuity, the annuity payment begins at the end of the selected deferment period and continues throughout his/her life.

• Death Benefit: The benefit depends on the annuity option selected:

  • Immediate Life Annuity: Annuity stops upon death.

  • Immediate Life Annuity With Return Of Purchase Price: Purchase Price is paid to the nominee.

  • Deferred Life Annuity: Assured Benefit is payable during the deferment period.

  • Deferred Life Annuity With Return Of Purchase Price: Assured Benefit or Purchase Price (as applicable) is payable.

• Joint Life Option: Annuity continues as long as either of the annuitants is alive, depending on the option chosen.

• Tax Benefits: Premiums paid and benefits received may qualify for tax benefits as per applicable tax laws.

Policy Details of the Edelweiss Life Insurance Active Pension Plus Plan

Understanding policy conditions helps you make informed retirement decisions.

• Grace Period

  A 15-day grace period is allowed for the monthly mode and a 30-day grace period for other premium payment modes. The policy is still in existence in this phase.

• Revival

  In case the premiums are not paid during the grace period, the policy lapses or becomes paid-up. It may be reinstated within five successive years of the security date of the initial unpaid premium, on condition that the outstanding premiums are paid with interest and underwriting consent.

• Free Look Period

  You have 30 days from the date the policy document is issued to you to review its terms. In case you do not agree with any of the conditions, you have the right to cancel the policy within this period, and you are liable to deductions.

• Surrender

  Immediate Annuity: Surrender is not available, except for early exit under certain options. Deferred Annuity: The surrender value can be provided with or without policy terms that are within the deferment period.

• Fund Switching

  Not applicable, as this is a non-linked plan.

• Loan

  Policy loan is not available under this product.

This plan comes under the category of the best investment plans that combine long-term savings and life insurance cover.

Exclusions Under the Edelweiss Life Insurance Active Pension Plus Plan

• Suicidal Clause

  If death occurs due to suicide within 12 months during the deferment period, the nominee will receive the higher of 80% of the total premiums paid or the surrender value available on the date of death.