Edelweiss Life EduSave Plan

Edelweiss Life EduSave is a traditional child plan which facilitates savings for the child’s future and provides a risk-free future stability for the child even if the parent is not around.

Investing in your child's future:A wise decision & a loving choice

Benefits of Investing In Child Plan

Waiver of Premium Benefit

Future Premiums are paid by the insurer upon death of policyholder

Flexible Payout Options

Your premiums help your child achieve their dreams through lump sum or regular payouts

Wealth Boosters

Get rewarded with Wealth Booster and Loyalty Bonus for staying invested with us

Zero Commission

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Tax Benefits^

You get tax benefits under Section 80(C) and no tax on returns under Section 10 (10D)

Investment Flexibility

It offers the flexibility to invest at regular intervals or as a one-time contribution

Nothing Is More Important Than Securing Your Child's Future

Invest ₹10k/month your child will get ₹1 Cr^# Tax-Free* on Maturity

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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

It is a participating plan with regular and limited premium payment option
There are different Maturity Payout options acting like a money back plan

Benefits

On death of the policyholder, the Sum Assured is paid immediately. Future premiums are waived off and bonuses continue to accrue. At the end of the term, the maturity benefit is paid to the nominee
On Maturity, Sum Assured benefit chosen + accrued bonuses is paid to the policyholder
The SA on Maturity can be taken in 5 options as below:

Benefit Options	End of term	2^nd last yr.	3^rd last yr.	4^th last yr.	5^th last yr.	6^th last yr.
Marriage Funding Plan	100%	-	-	-	-	-
Post-Graduation Plan	52%	52%	-	-	-	-
Graduation Plan	32%	24%	24%	32%	-	-
Integrated 5 yr. Degree Plan	20%	20%	20%	28%	28%	-
Dual Degree Plan	18%	18%	18%	18%	24%	24%

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	45 years
Maturity Age (Last Birthday)	-	60 years
Policy Term (PT) in years	10	30
Premium Paying Term (PPT) in years	Regular Pay, 10 Pay or Term - 5
Premium Paying Frequency	Annual, half-yearly, quarterly, monthly
Premium	6968	No limit
Sum Assured	225,000	No limit

Details About Premium

Annual premium in Rupees for a PPT of 10 years and SA of 250,000

Age / term (yrs.)	15	20	25
30	22,868	20,793	19,708
35	23,210	21,328	20,438
40	23,848	22,198	-

Policy Details

Grace period: 30 days’ grace period is allowed for premium payment in all modes. If policyholder fails to make payment within the grace period, the policy lapses
Policy Termination or Surrender Benefit: Policyholder is allowed to surrender the policy and receive the Surrender Value. The Surrender Value will be higher of the Guaranteed Surrender Value or the Special Surrender Value.
GSV = GSV % of Premiums paid + GSV% of vested Bonuses
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.

Inclusion

Loan is available under the plan to a maximum of 90% of the Surrender Value

Additional Features or Riders

Rebates for Large Sum Assured ranges
Discount in premium for female lives
The following Riders are available for a comprehensive coverage:
- Edelweiss Life Accidental Death Benefit Rider
- Edelweiss Life Accidental Total and Permanent Disability Rider
- Edelweiss Life Term Rider
- Edelweiss Life Critical Illness Rider
- Edelweiss Life Waiver of Premium Rider
- Edelweiss Life Hospital Cash Benefit Rider
- Edelweiss Life Payor Waiver Benefit Rider

Exclusions

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

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.

You May like to Read: Edelweiss Life Child Plans

†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.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.