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Income Builder Investment Insurance Overview

Key Features
Eligibility
Benefit Description

Features of Income Builder Investment Insurance

The important features of this plan include:

Secure the insured’s family’s financial future through life insurance cover.
Option to receive regular income or regular income plus lumpsum, to fulfil future dreams.
'Secured Income' Plan Option to ensure that those dreams are met even in case of an eventuality.
Two Maturity Benefit Options to choose from – Regular Income / Regular Income plus Lumpsy.
Flexibility to pay premiums and receive income payouts as per the insured’s convenience, financial stability and financial goals.
Flexibility to receive income on that date of a month which the insured cherishes the most.

Eligibility Criteria of Income Builder Investment Insurance

Particulars	Base Option		Secured Income Option
Minimum Entry Age(Last Birthday)	Policy Term (years)	Age	18 years
	6	12
	7	11
	8	10
	10	8
	12	6
Maximum Entry Age (Last Birthday)	55 years		50 years
Minimum Maturity Age (Last Birthday)	18 years		24 years
Maximum Maturity Age (Last Birthday)	67 years		62 years
Policy Term	Single Premium - 6 / 8 / 10 / 12 years Regular Premium - 7 / 10 / 12 years		7 / 10 / 12 years
Payout Period	Premium Payment Option	Policy Term	Payout Period
	Single Premium	6	6
		8	8
		10	10
		12	12
	Regular Premium	7	7
			13
			18
			23
		10	10
			15
			20
		12	12
		12	18
Premium Paying Term	Single Premium: 1 year Regular Premium: Equal to Policy Term
Minimum Sum Assured on Death	Regular Premium: Rs. 3,00,000 Single Premium: Rs. 1,10,000
Maximum Sum Assured on Death	No Limit, subject to Board approved underwriting policy
Minimum Premium	Regular Premium: Rs. 30,000 Single Premium: Rs. 1,00,000
Maximum Premium	No Limit, subject to Board approved underwriting policy
Premium Paying Frequency	Annually, Semi-Annually, Quarterly, Monthly
Payout Frequency	Annually, Semi-Annually, Quarterly, Monthly

Benefit Descriptions of Income Builder Investment Insurance

Maturity Benefit (for both plan options)	The Maturity Benefit is payable in the form of Regular Income or Regular Income plus Lumpsum depending on the Maturity Benefit Option as detailed below. The Option once chosen at inception cannot be changed during the Policy Term: Regular Income Provided the policy is In-Force, Regular Income Instalment shall be payable starting from the First Payout Date in the Payout Frequency, as decided by the insured till the end of the Payout Period. The insured also has the option to advance the first payout date by a maximum of 30 days. This option can be exercised only once and at least 90 days before the maturity date. Regular Income plus Lumpsum Provided the Policy is In-Force, Regular Income Instalment shall be payable starting from the First Payout Date in the Payout Frequency, as decided by the insured till the end of the Payout Period. In addition, a Lumpsum Payout shall be payable with the last Regular Income Instalment. The insured also has the option to advance the First Payout Date by a maximum of 30 days. This option can be exercised only once and at least 90 days before the maturity date.
Critical Illness Benefit **	This benefit will be applicable only if the Plan Option selected is Secured Income. If the Life Insured is diagnosed with one of the covered Critical Illness conditions, during the Policy Term and while the policy is In-Force, the insurer will pay the Critical Illness Sum Assured as lumpsum provided the Life Insured has survived for a period of 30 days following the date of diagnosis. In addition, all the future premiums will be waived and the policy will continue for Death Benefit, Surrender Benefit and Maturity Benefit. The Critical Illness Sum Assured is equal to 5 times the Annualised Premium. No Critical Illness Benefit will be payable within the Waiting Period of 90 days from the risk commencement date of the policy or revival whichever is later.
Death Benefit	Base Option For Premium Payment Option – Regular Premium If the Life Insured dies during the Policy Term while the policy is In-Force, Sum Assured on Death is payable. Sum Assured on Death is higher of: 10 times the Annualised Premium or Maturity Sum Assured or 105% of all the Premiums paid till date of death; Any absolute amount assured to be paid on death For Premium Payment Option – Single Premium If the Life Insured dies during the Policy Term while the policy is In-Force, Sum Assured on Death is payable. Sum Assured on Death is higher of: 125% of Single Premium if age at entry of Life Insured is less than 45 years or 110% of Single Premium if age at entry of Life Insured is 45 years and above or Maturity Sum Assuredor Any absolute amount assured to be paid on death Any absolute amount assured to be paid on death will be equal to 125% of Single Premium if age at entry of life assured is less than 45 years or 110% of Single Premium if age at entry of life assured is 45 years and above. Secured Income Option Regular Premium Payment Option If the Life Insured dies prior to making any claim for the covered Critical Illness Benefit during the Policy Term while the Policy is In-Force; Sum Assured on Death is payable. Sum Assured on Death is higher of: 10 times the Annualised Premium or Maturity Sum Assuredor 105% of all the Premiums paid till date of death or Any absolute amount assured to be paid on death Any absolute amount assured to be paid on death will be equal to 10 times the Annual Premium.
Enhanced Protection through Riders	A rider is an add-on provision to the base plan. Riders can help in making the plan more comprehensive by paying an additional premium. Riders can be added at the inception of the policy or at policy anniversary during the Policy Term subject to underwriting and terms and conditions of the riders and the product. Following riders are available with this plan: Income Benefit Rider : This rider will make sure that the insured’s family has a backup source of monthly income even in the insured’s absence. Payor Waiver Benefit Rider : This rider waives future premiums in case of death, Critical Illness or total and permanent disability due to accident of the proposer (payor) so that the Life Insured continues to get the benefits. Accidental Death Benefit Rider : This rider provides for additional financial security in case any death occurs due to accident. Also, the benefit is payable in lumpsum. Accidental Total and Permanent Disability Rider : This rider provides the insured with a lump sum to cater to any immediate expenses in case the insured’s income earning capacity is hindered due to an accidental disability (total & permanent). Term Rider : This rider provides the insured with a lumpsum amount in addition to the base plan cover to provide increased security to the dependent family. Waiver of Premium Rider : This rider waives of future premiums in case the insured suffers from Critical Illness or total and permanent disability due to accident. Payor Waiver Benefit Rider and Waiver of Premium Rider won’t be offered under the Secured Income Option and with Single Premium Payment Option.
Surrender Benefit	For Single Premium Payment Option, the policy will acquire surrender value immediately after the insurance company has received the premium. For the Regular Premium Payment Option and Policy Term of 7 years, the policy will acquire Surrender Value only from second policy year provided we have received full premiums for the first two policy years. For the Regular Premium Payment Option and Policy Term of 10 and 12 years, the policy will acquire Surrender Value only from third policy year, provided we have received full premiums for at least first three policy years. On surrender, the policy shall be terminated and all the benefits under the policy shall cease to apply. On surrender of the policy, the insurer will pay the higher of Guaranteed Surrender Value or Special Surrender Value.
Reduced Paid Up Death Benefit	Under the Base Option, if the Life Insured dies during the Policy Term and while the Policy has become Reduced Paid-Up, the Reduced Paid-Up Sum Assured on Death shall be payable and the Policy will be terminated. Under the Secured Income Option, if the Life Insured dies prior to making any claim for a covered Critical Illness Benefit during the Policy Term and while the Policy has become Reduced Paid-Up, the Reduced Paid-Up Sum Assured on Death shall be payable.
Free Look / Grace Period	15 / 30 days

** - Covered Critical Illnesses include Cancer of Specified Severity Major Organ/ Bone Marrow Transplant / Open Chest Coronary Artery Bypass Graft / Permanent Paralysis of Limbs / Myocardial infarction (First Heart Attack of Specified Severity)/ Stroke resulting in permanent symptoms / Open Heart Replacement or Repair of Heart Valves / Major Surgery Of Aorta Kidney Failure Requiring Regular Dialysis / Coma of Specified Severity / Third Degree Burns Total Blindness

Income Builder Investment Insurance

Edelweiss Tokio Life insurance review

Income Builder Investment Insurance Overview

Features of Income Builder Investment Insurance

Eligibility Criteria of Income Builder Investment Insurance

Benefit Descriptions of Income Builder Investment Insurance

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