Edelweiss Life Insurance Easy Pension Plan

Eligibility Criteria for the Edelweiss Life Insurance Easy Pension Plan

Features of the Edelweiss Life Insurance Easy Pension Plan

Here are the key features of the Edelweiss Life Easy Pension Plan:

• It is a unit-linked retirement product where investment performance depends on market movements.

• Offers Guaranteed Loyalty Additions for eligible premium amounts at specified policy milestones.

• Provides Single Pay, Limited Pay, and Regular Pay premium options.

• Allows you to choose between Aggressive and Conservative risk strategies.

• Automatic quarterly rebalancing helps maintain the selected asset allocation mix.

• Partial withdrawals are permitted after completion of the lock-in period, subject to conditions.

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

Benefits of the Edelweiss Life Insurance Easy Pension Plan

The Edelweiss Life Easy Pension Plan is structured to provide retirement accumulation along with life coverage benefits.

1. Death Benefit:

   In case of death during the policy term, the nominee receives the higher of:

   • Fund Value,

   • Assured Benefit as defined in the policy, or

   • 105% of total premiums paid.

2. Vesting Benefit:

   On attaining the chosen vesting age, the higher of Fund Value or Assured Benefit is payable. You may commute up to the permitted percentage as a lump sum and utilise the remaining amount to purchase an annuity.

3. Guaranteed Loyalty Additions:

   For eligible annual premiums, loyalty additions are credited at the end of the 10th policy year and every 5th year thereafter, subject to policy conditions.

Policy Details of the Edelweiss Life Insurance Easy Pension Plan

The following are the policy details of the Edelweiss Life Insurance Easy Pension Plan:

1. Grace Period:

   A grace period of 30 days is available for annual, half-yearly, and quarterly premium payment modes. For the monthly mode, the grace period is 15 days. This period still has the policy in effect.

2. Revival:

   The policy is revivable after acquiring the underwriting requirements and payment of due premiums within a period of three years from the date of the unpaid first premium.

3. Free Look Period:

   You have 30 days after the policy document has been received to review the document. In case you do not agree with certain terms and have not claimed, you can elect to cancel the policy according to the set rules.

4. Surrender:

   The policy in the first five years of the policy is liable to a lock-in period. Also, in the event of surrender within this period, the proceeds become payable once the lock-in period is over. When the lock-in period is reached, the value of the fund at the end of the policy is the surrender value.

5. Fund Switching:

   The risk strategy chosen at policy inception cannot be changed later.

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

Exclusions Under the Edelweiss Life Easy Pension Plan

1. Suicidal Clause:

   When the death is a result of suicide within 12 months of commencement or revival of the policy, the nominee will get the degree of the fund according to the provisions of the policy.