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Insurance Company
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Edelweiss Tokio Life Insurance Company Ltd
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Plan Name
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Edelweiss Tokio Life Group Credit Protection Plan
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Plan Nature
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TRADITIONAL
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Plan Category
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Protection Plan
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UIN No.
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147N002V01
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About Plan
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NA
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Minimum Entry Age
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18 years
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Maximum Entry Age
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65 years
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Minimum Policy Term
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1 years
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Maximum Policy Term
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30 years
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Premium Paying Term
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1,3pay,5pay
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Maximum Maturity Age
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70 years
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Benefits
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| Particulars | Description |
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Death Benefits
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On death outstanding Sum Assured as per COI is paid and coverage ceases.
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Survival Benefit
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No amount is payable on maturity or survival.
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Surrender Benefit
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If surrender value is chosen, then surrender value is available a surrender value is payable as per the certificate of insurance. If surrender value is chosen then surrender value available is:During Premium Paying Term: Surrender benefit is zero.After Premium Paying Term: Surrender benefit is equal to Total Premium paid (exclusive of service tax) * 60%* (Number of remaining months of cover/ Total Policy Term in months) * (Sum Assured applicable as at surrender /Sum Assured at inception). For Single premium coverage, surrender benefit will be available from first year onwards.
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Other Benefits
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Life Under this option outstanding loan amount as per schedule is paid on death.Life cover with ATPD: Under this option, cover is provided on, both, death and Accidental Total and Permanent Disability(ATPD). After occurrence of ATPD the premium amount will reduce in proportion by ATPD Sum Assured to the base Sum Assured. Hence after ATPD new premium is given as: Old Premium*(ATPD Sum Assured/Base Sum Assured)
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Tax Benefits
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| No data for Tax Benefits |
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Covers all types of loans
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Flexible Premium Paying Terms:Single Pay,3Pay,5Pay
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Cover available during the moratorium period (only principle)
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Surrender value is payable
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Tax benefits available as per current tax laws
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