Edelweiss Tokio Triple Advantage Plan Insurance, Pension or Retirement Triple Advantage Plan Insurance

Triple Advantage Plan overview

Key benefits
Eligibility criteria
Benefit description

Key benefits of Triple Advantage Plan

Limited payment periods allow the insured to pay from your present income for your future needs
Get first lump-sum payout at the end of premium payment term
Get second lump-sum payout when insured reaches age 75
Get third lump-sum payout on maturity i.e. when insured reaches age 100
Get discounts for higher Sum Assured on Maturity
Loan facility to meet any urgent / unforeseen liquidity requirements
Option to make your cover more comprehensive through riders
Tax Benefits : You can avail tax benefits under Section 80C

Eligibility criteria of Triple Advantage Plan

Minimum Entry Age

91 Days
(For entry age below 5 years, risk commences after 1 Year and 11 months from the date of commencement of the policy.For entry age of 5 years and above, risk commences immediately.)

Maximum Entry Age (Last birthday)

55 Years

Maximum Maturity Age (Last birthday)

100 Years

Policy Term (PT)

100 Years less age at entry of the life insured

Premium Paying Term (PPT)

10, 15, 20 and 25 years

Premium Payment Frequency

Annual, Semi-annual, Quarterly, Monthly

Minimum Premium

Rs 9,531

Sum Assured on Death

Higher of: 11 times of the Annualized Premium* OR Sum Assured on Maturity

Sum Assured on Maturity

Minimum : Rs 2,00,000
Maximum : No Limit, Subject to Underwriting

Discount for Large Sum Assured

This plan provides for additional discount on higher sum assured premium amount are given as per the table below:

PPT	Large Sum Assured discount on premium (Rs.)(per Rs.50,000 Sum Assured on Maturity exceeding Rs.200,000)
10	500
15	400
20	360
25	340

Premium Rates for Female Lives

For PPT of 10 years

Up to Age 11 : Same Rate as for Male of age 8
Age 12 & above : 3 year age setback to Male Rate

For PPT of 16 years

Up to Age 6 : Same Rate as for Male of age 3
Age 7& above : 3 year age setback to Male Rate

For PPT of 20 & 25 years

Up to Age 3 : Same Rate as for Male of age 0
Age 4 & above : 3 year age setback to Male Rate

Benefit descriptions of Triple Advantage Plan

Death Benefit	For Life Insured with entry age below 5 years For minor lives, where the entry age is below 5 years, in case of death during the first 1year and 11 months from the date of commencement of the policy, the company will pay 105% of total premiums paid till date of death. After completion of 1 year and 11months from the date of commencement of the policy, the death benefit would be asper the benefit offered for Entry Age of 5 years and above. For Life Insured with entry age of 5 years and above: Till end of PPT: Sum Assured on Death Plus accrued Reversionary Bonus (RB1) After end of PPT till end of policy year when Life Insured attains age 75 years: SumAssured on Death Plus accrued Reversionary Bonus (RB2)After attaining age 75 years: Sum Assured on Death Where, the Sum Assured on Death at any time during the policy term is higher of thefollowing: 11 times of the Annualized Premium Guaranteed Sum Assured on Maturity
Maturity Benefit	On maturity of the policy, the paid-up sum assured on maturity will be payable.Further, the benefit payable on maturity shall never be less than 105% of total premiums paid to date.
Reversionary Bonus (RB)	This is a non-guaranteed benefit payable during the policy term based on the performance ofthe Par Fund as mentioned below: Reversionary Bonus during PPT (‘RB1’): This will accrue every year from the first policy year till the end of premiumpaying term and will be payable on death or at the end of premium paying term, whichever is earlier. Reversionary Bonus after PPT (‘RB2’): This will accrue every year from one year after the premium paying term till theend of the policy year when the Life Insured attains age 75 and will be payable on death or at the end of policy yearwhen Life Insured attains age 75, whichever is earlier.
Guaranteed Lump Sum Benefit (GLB)	This is a survival benefit payable only upon the survival of the Life Insured at theend of the Premium Paying Term (‘PPT’) and at the end of policy year when Life Insured attains age 75 and is equal to SumAssured on Maturity. GLB is payable twice during the policy term as follows: First GLB payout: At the end of the PPT Second GLB payout: At the end of policy year when Life Insured attains age 75. GLB will not be a part of death benefit.
Surrender Benefit	The Policy will acquire Surrender Value if all the premiums have been paid in full and received by Us for at least first threepolicy years. On surrender, the Policy shall be terminated, the Surrender Value, if any, as calculated will be immediatelypaid and all the Benefits under the Policy shall cease to apply. On surrender, the higher of the Guaranteed Surrender Valueor the Special Surrender Value will be payable.
Survival Benefit	Reversionary bonus (RB1) that has been declared before the policy gets paid-up will be protected and paid at the end of PPT. Paid-up GLB shall be payable on survival of Life Insured at the end of PPT and end of policy year when Life Insured attainsage 75. It will not be a part of death benefit. The total survival benefit payable during the policy term is as follows: At the end of PPT: Paid-up GLB plus RB1 At the end of policy year when Life Insured attains age 75: Paid-up GLB
Reduced Paid Up Benefit	If all the premiums have been paid for at least first three consecutive years then the policy will not lapse and continue as a‘Reduced Paid-up’ policy and all the benefits shall be reduced proportionately.All the benefits will be multiplied by a paid up factor, where paid-up factor is as below: Paid-up factor = (Number of premiums paid/ Number of premiums payable) Paid-up Sum Assured on Maturity= Paid-up factor *Sum Assured on Maturity.
Loan Benefit	Policy loan is available once it acquires surrender value. Maximum loan amount available is 90% of surrender valueoffered by the Company. Interest will be charged on the outstanding loan amount at a rate declared by the Company fromtime to time based on then prevailing market conditions and will be equal to “SBI Base rate(minimum rate at which SBIlends) + 1.75%”.
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: 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 Insuredcontinues 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. Critical Illness Rider : This rider provides the insured with a lumpsum to cater to any immediate expenses in case the insured’s income earning capacity is hindered in the event of critical illness.
Free Look / Grace Period	15 / 30 days

Triple Advantage Plan

Edelweiss Tokio Life insurance review

Triple Advantage Plan overview

Key benefits of Triple Advantage Plan

Eligibility criteria of Triple Advantage Plan

Benefit descriptions of Triple Advantage Plan

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