Edelweiss Tokio Life Single Pay Endowment Assurance Plan

life insurance
Protect your loved ones against death, disability and Illness
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Edelweiss Tokio Life Single Pay Endowment Assurance Plan is a non-linked, non-participating, and one-time investment solution that helps you grow your wealth. The plan also provides you with a substantial life cover ranging from 1.25 times to 10 times of your single premium amount. 

Moreover, the plan can be customised to provide extra coverage with the help of 4 rider options. The plan also allows you to avail a loan of up to 90% of the surrender value. 

Best Features of Edelweiss Tokio Life Single Pay Endowment Assurance Plan

Following are the key features of Edelweiss Tokio Life Single Pay Endowment Assurance Plan:

  • Death Benefit- The plan offers 2 options for availing the death benefit. Under Option A, you get an absolute amount equivalent to 10 times of your single premium and under Option B, you get a death benefit equivalent to the maturity sum assured.
  • One-time Investment- The plan is a one-time investment as the premium for it is only payable once for the entire policy term.
  • Higher Sum Assured- The plan provides higher sum assured for female lives.
  • Policy Loan- The policy allows you to avail a loan of up to 90% of the surrender value of the policy. The loan is available at an interest rate which currently stands at 11.05% p.a.
  • Rider Options- The plan offers 4 additional rider options namely Accidental Death Benefit Rider, Accidental Total and Permanent Disability Rider, Critical Illness Rider, and Income Benefit Rider. 
  • Minor Life- In case the life assured is a minor, the ownership of the plan is transferred from the legal guardian to the life assured on attainment of majority.

Benefits of Edelweiss Tokio Life Single Pay Endowment Assurance Plan

Following benefits are available to the policyholders of Edelweiss Tokio Life Single Pay Endowment Assurance Plan:

  1. Death Benefit

In case of death of the life assured during the policy term, the highest of the following is paid to the nominee as the death benefit -

  • 125% of the single premium
  • Guaranteed sum assured on maturity
  • An absolute amount as per the chosen death benefit option 
  1. Death Benefit Option A - On the death of the life assured, the absolute amount is equivalent to  10 times of the single premium. 
  2. Death Benefit Option B - Under this option, the death benefit is equivalent to sum assured on maturity. 
  3. Maturity Benefit

If the life assured survives till the end of the policy term, a guaranteed amount in accordance with the life assured’s age, gender, policy term, death benefit option, and premium band is paid as the maturity benefit. 

Following are the 5 premium bands applicable under this plan - 

Premium Band

Single Premium Range

Band 1

Rs. 40,000 – Rs. 99,999

Band 2

Rs. 1,00,000 – Rs. 2,49,999

Band 3

Rs. 2,50,000 – Rs. 9,99,999 

Band 4

Rs. 10,00,000 – Rs. 24,99,999

Band 5 

Rs. 25,00,000 & above

  1. Surrender Benefits

If the life assured decides to terminate the policy before the completion of the policy term, the higher of the Guaranteed Surrender Value (GSV) or the Special Surrender Value (SSV) is paid as the surrender benefit.

GSV = Single Premium * GSV Factor

SSV = Sum Assured on Maturity * SSV Factor

Edelweiss Tokio Life Single Pay Endowment Assurance Plan Eligibility

The Edelweiss Tokio Life Single Pay Endowment Assurance Plan comes with the following eligibility conditions -

Eligibility Criteria For Edelweiss Tokio Life Single Pay Endowment Assurance Plan

Minimum Age at Entry

For policy term of 10 years - 8 years

For policy term of 15 years - 3 years

Maximum Age at Entry


 

Policy Term 

Death Benefit Option A

Death Benefit Option B

10 years

40

70

15 years

35

65


 

Minimum Age at Maturity

18 years

Maximum Age at Maturity

Death Benefit Option A- 50 years

Death Benefit Option B- 80 years

Minimum Premium Amount 

INR 40,000

Maximum Premium

No limit, subject to underwriting

Minimum Sum Assured

Death Benefit Option A -INR 4 Lakh

Death Benefit Option B- INR 50,000

Maximum Sum Assured

No limit, subject to underwriting

Policy Term 

10, 15 years

Premium Paying Term

Single Pay

Premium Payment Frequency

Single

Edelweiss Tokio Life Single Pay Endowment Assurance Plan Review

Edelweiss Tokio Life Single Pay Endowment Assurance Plan is a savings plan which provides guaranteed maturity benefit along with death benefit. It is a one-time investment plan as it only accepts a single premium. The plan provides 4 different rider options to help you enhance the coverage during uncertain circumstances along with a policy loan option. For female lives, the plan offers a higher sum assured than male lives. It is a suitable savings plan for individuals who want to avoid making regular premium payments to enjoy an investment corpus.

Edelweiss Tokio Life Single Pay Endowment Assurance Plan FAQs
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