A sickness can befall anyone at anytime and with the growing number of dengue cases that are springing up all around us, it is wise to take up an insurance cover to help you out of you do find yourself in such a situation. A sickness can cause a lot of emotional, physical, and financial strain on a person as availing treatment and the cost of it can be a hassle to deal with. The Edelweiss Tokio Life – Cash Income Plan provides protection when a person’s life is in danger when they are affected by Dengue. This plan helps secure any financial burden that’s laid out on you when you are diagnosed with this sickness. Some of the key features of a Edelweiss Tokio Life – Cash Income Plan:
Insurance providers usually set eligibility criteria which need to be met in order to avail the protection accorded by the plan and these are listed below:
|Parameters||Criteria for Eligibility|
|Minimum Age of Entry*||91 days|
|Maximum Age of Entry*||65 days|
*Age as on last birthday
The sum which is assured with a Edelweiss Tokio Life – Cash Income Plan is based completely on the premiums that you will be required to pay to avail the benefits of the policy. The sum assured for Edelweiss Tokio Life – Cash Income Plan can be Rs.25,000, Rs.40,000, or Rs.50,000 and 100% of the sum assured shall be payable at the time of diagnosis.
Premiums are paid to the insurer to purchase a policy from them so that the individual can come under the umbrella of benefits and coverage that this plan has to offer. The premiums that a policyholder will have to pay towards a Edelweiss Tokio Life – Cash Income Plan are listed below:
|Term of the Policy||5 years|
|Premium Payment Term||
|Premium Payment Modes||
*Premiums paid vary based on age, location, plan term and other factors
Premiums for a Edelweiss Tokio Life – Cash Income Plan can be made using any of the following ways:
|Premium Modes||Modal Factors|
The Edelweiss Tokio Life – Cash Income Plan offers a number of different benefits and these are listed in the table below:
|Maturity Benefit||No maturity benefit is payable with a Edelweiss Tokio Life – Cash Income Plan.|
|Tax Benefit||As per prevailing tax laws of the Income Tax Department.|
|Death Benefit||No death benefit is payable with a Edelweiss Tokio Life – Cash Income Plan.|
There are no additional riders that are available for purchase along with the Edelweiss Tokio Life – Cash Income Plan.
Under the Edelweiss Tokio Life – Cash Income Plan, no benefit is payable to the insured by the insurance company for any of the following reasons listed below:
Other Key Features
|Free Look Period||Free Look Period is granted for:
|Grace Period||30 days for all modes that come under Regular Premium Payment|
|Nomination||Nomination is allowed as per the existing tax laws under Section 39 of the Insurance Act, 1938.|
|Assignment||Assignment is allowed as per the prevailing tax laws under Section 38 of the Insurance Act, 1938.|
|Surrender Value||Surrender Value is calculated as: 50% of Single Premium which is paid multiplied by (Unexpired coverage term*/60)|
|Revival/Reinstatement||Revival of a policy can be done within 2 years from the date of the first unpaid premium. All unpaid premiums plus interest will have to be paid to revive a policy.|
|Loan||Loan facility is not available with a Edelweiss Tokio Life – Cash Income Plan.|
*Unexpired coverage term is calculated in months
A policyholder can enjoy tax benefits on any premium that is paid towards Edelweiss Tokio Life – Cash Income Plan under the prevailing tax laws under Section 80C and for withdrawals or maturity amount under 10(10D) of the Income Tax Act, 1961. Tax benefits are subject to changes without prior notice so it is important that the policyholder consults a Tax Advisor to stay informed about any changes made.
Edelweiss Tokio Life started operating in India in late 2008. The company is committed to provide financial advice of top quality as well as provide a wider customer protection cover. With a Claim Settlement Ratio of 84%, Edelweiss Tokio Life is one of the leading insurance agencies that a lot of people in India prefer doing business with. The company also has an Asset Under Management that’s worth over Rs.2,893.05 crore. There are over 103 branches of Edelweiss Tokio Life located across the country which service over 13 million customers.