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Edelweiss Life Protection Plan

Edelweiss Life Protection is a pure Term Insurance Plan which provides a lump sum to the family in the event of death of the policyholder taking care of the income replacement needs. the plan offers high coverages at low rates.

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Key Feature

It is a pure term insurance plan
There are multiple premium paying options in this plan:
- Regular Pay, i.e. for the entire policy tenure
- Limited Pay, i.e. for a limited period of time while the policy continues till the end of the policy tenure
- Single Pay, i.e. the premium needs to be paid upfront
- This is a pure risk coverage plan for high sum assured of Rs 15 lacs and more

Benefits

The nominee gets the Sum Assured (SA) on death of the policyholder
There is no maturity or surrender benefits in this plan
Income tax benefit on the premium paid as per Section 80C and on the claims received as per Section 10(10D) of the Income Tax Act.

Product Specification:

	Minimum	Maximum
Entry Age (Last Birthday)	18 years	60 years
Maturity Age (Last Birthday)	28 years	70 years
Policy Term (PT) in years	10	30
Premium Paying Term (PPT) in years	Single Pay, 5 Pay, 10 Pay, 15 Pay, Regular Pay
Premium Paying Frequency	Annual
Yearly Premium	Depends on age, Sum Assured, term and PPT
Sum Assured	15,00,000	No limit

Details About Premium

Annual premium in Rupees for a non-smoker for a 25 year term with a Sum Assured of 25 lakhs

Age/PPT (yrs.)	Single Pay	5 Pay	10 Pay	15 Pay	Regular Pay
30	52,500	12,000	7000	5250	4000
35	70,250	16,000	9000	6750	5250
40	98,750	22,500	12,750	9250	7250

Policy Details

Grace Period: 30 days grace period is allowed for payment of premium.
Policy Termination or Surrender Benefit: the plan acquires a Surrender Value only in case of Single and Limited pay options where the policy can be surrendered form the 2^nd year or after the Premium Paying Term respectively.
Surrender Value for Single Pay plans – Single premium * 70% * (number of remaining months of cover/total policy term in months)
Surrender Value for Limited Pay plans – total premiums paid * 70%* (number of remaining months of cover/total policy term in months)
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.

Additional Features or Riders

The plan offers the following Riders for additional protection:

Edelweiss Life – Accidental Total & Permanent Disability Rider
Edelweiss Life – Accidental Death Benefit Rider
Edelweiss Life – Waiver of Premium Rider
Edelweiss Life – Critical Illness Rider
- Premium discounts are given for high Sum Assured coverages of Rs.20 lakhs and above.
- Premium discounts for non-tobacco users.

Exclusions

In case of suicide committed within 12 months of policy inception only 80% of premiums paid are returned to the nominee.
If suicide is committed within 12 months of revival, higher of 80% of the premiums paid or acquired Surrender Value is payable

Documents Required

Policyholder has to fill up an ‘Application form/ proposal form’ online and provide self-attested copies of KYC/AML Documents.

You May like to Read: Edelweiss Tokio Term Plan

Note: Check all the best term insurance plan in India.

Note: You should also check the benefits of term life insurance if you are planning to purchase the term insurance plan.

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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. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in

+Rs. 487/month (Rs.16/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.

Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited

We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881

For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale

Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.

+Rs. 820/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.

+Rs. 1,443/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.

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