Edelweiss Life Single Pay Endowment Assurance Plan

Introduction/Overview
Edelweiss Life Single Pay Endowment Assurance Plan is a traditional Endowment Assurance plan with a single pay facility which enables the policyholder to reap the benefits later on in life while at the same time being protected under the life cover feature.

4.8^~ Rated
7.7 Crore Registered Consumer
50 Partners Insurance Partners
4.2 Crore Policies Sold

Investment Plans

Guaranteed Tax Savings^Under sec 80C & 10(10D)
Under sec 80C & 10(10D)Invest ₹10k Per Month*
Zero LTCG Tax^

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Get Guaranteed returns along with life cover

invest in 100% Guaranteed Return Plans Tax benefits under sec 80C & No Tax on returns*

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We are rated^~

7.7 Crore

Registered Consumer

Insurance Partners

4.2 Crore

Policies Sold

Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

Key Features

This plan is a non-participating traditional Endowment plan with Single pay premium payment term

Benefits

On maturity, Guaranteed Maturity Benefit is paid which depends on age, sex and premium range
On death, Sum Assured is payable which is equal to 10 times the Single premium paid
Income tax benefit under Sections 80C and 10(10D) for premiums paid and claims received respectively

Product Specification:

	Minimum	Maximum
Entry Age (Last Birthday)	8 years	50 years
Maturity Age (Last Birthday)	-	60 years
Policy Term (PT) in years	10
Premium Paying Term (PPT) in years	Single pay
Yearly Premium	40,000	No limit
Sum Assured	400,000	No limit

Details about Premium

Premium in Rupees and Maturity benefit illustration

Age / Premium	Applicable Maturity Benefit
Age / Premium	50,000	1 lakh	2.5 lakhs	10 lakhs	25 lakhs
30 yrs.	89,100	180,100	466,250	19,04,000	48,10,000
35 yrs.	86,400	174,700	454,500	18,63,000	47,10,000
40 yrs.	81,250	164,500	432,500	17,84,000	45,20,000
45 yrs.	71,900	145,800	392,750	16,44,000	41,80,000
50 yrs.	55,950	114,100	326,000	14,11,000	36,22,500

Policy Details

Grace Period: grace period is not applicable for single pay plans

Policy Termination or Surrender Benefit: the policy can be surrendered anytime if 1 full year’s premium has been paid. The Surrender value will be higher of the applicable % of the Maturity Benefit or applicable % of the Single premium Paid. The applicable % depends on the year of surrender

Free Look Period: If you would not be pleased with the coverage, and terms and conditions of the policy, you have the option of canceling the policy within 15 days of receipt of the policy documents, provided there has been no claim.

Inclusions

The policy provides loan facility of up to 90% of the Surrender value

Additional Features or Riders

Higher Maturity Benefits for female lives aged 11 years and above
The following riders are available under the plan:

Edelweiss Life Accidental Death Benefit Rider
Edelweiss Life Accidental Total and Permanent Disability Rider
Edelweiss Life Term Rider
Edelweiss Life Critical Illness Rider

Exclusions

In case of suicide within 12 months from inception, 90% of the premiums paid is refunded

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ with accurate medical history along with the address proof and other KYC documents. Medical examination may be required in some cases, based on the sum assured and the age of the person.

†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
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