Features of Edelweiss Tokio GCAP Guaranteed Life Insurance
- All the benefits are guaranteed upfront
- Get additional benefits from 9th policy year through Guaranteed Accrual Additions
- Loan facility is available
- Multiple options of policy term and premium paying term to suit your requirements
- Enhance your benefits by adding various riders
- Option to receive maturity benefit payments as a lump-sum amount
Eligibility Criteria of Edelweiss Tokio GCAP Guaranteed Life Insurance
| Minimum Entry Age(last birthday) |
91 days
|
| Maximum Entry Age(last birthday) |
55 years |
| Minimum Maturity Age (last birthday) |
18 years
|
| Maximum Maturity Age (last birthday) |
70 years |
| Policy Term |
10 / 15 / 20 / 25 / 30 years |
| Premium Payment Term (PPT) |
5 / 7 / 10 / 12 years
Note: For policy term of 10 years, only 5 pay and 7 pay (PPT) are allowed
|
| Minimum Premium |
- Annual: Rs 15,000
- Semi-Annual: Rs 8,000
- Quarterly: Rs 4,000
- Monthly: Rs 1,500
|
| Premium Payment Mode |
Annual, Semi-annual, Quarterly, Monthly
|
Benefit Descriptions of Edelweiss Tokio GCAP Guaranteed Life Insurance
Death Benefit
On death of the Life Assured during the policy, company pays : Sum Assured on Death plus Guaranteed Accrual Additions(GAA), if any. GAA is calculated as a specific percentage of total annualized premiums paid.
Maturity Benefit
On survival of the Life Assured till maturity, company pays: Sum Assured on maturity (SAM) + Cumulative Guaranteed Accrual Additions + Large premium benefit (LPB), if any
LPB = If annual premium is in excess of Rs.40,000/- ,there is an additional payout on maturity for every Rs.20,000 in excess of Rs.40,000/-
Tax Benefits
You can avail tax benefits under Section 80C and Section 10 (10D) of Income Tax Act, 1961. Premium paid for Critical Illness Rider, if opted, may qualify for a deduction under Section 80D of the Income Tax Act, 1961. Tax benefits are subject to change in the tax laws.
