Edelweiss Tokio Life Guaranteed Savings STAR is a guaranteed1 returns plan that helps you save for your future goals like wealth accumulation, higher education for your child, buying a house, foreign trip with family or even a well-planned retirement. This plan offers tax saving up to Rs. 64,116* u/s 80C.
This rider provides financial security in the form of an additional life cover to your loved ones in case of demise due to an accident.
With this rider, you can get a lump sum amount to manage your expenses in case total or permanent accidental disability has hindered your earning capacity.
In case you are diagnosed with one of 12 listed critical illnesses, this optional benefit will provide you 100% of the Rider Sum Assured after 30 days of diagnosis.
In case of critical illness, accidental total and permanent disability or death, get all future premiums waived off through this optional benefit.
With this rider, if the proposer of the policy suffers from an unfortunate event like death, disability or critical illness, all future premiums are waived off and the policy continues for the life insured.
This rider gives a daily allowance in case you are hospitalized for any necessary treatment of an illness or injury.
Our Promise of Integrity - 98.09% Claim Settlement Ratio for FY 2022.
BFSI Excellence - Life Insurance Company of the Year 2021^²
Best Customer Experience & Contact Center Management - Life Insurance 2021^³
A guaranteed savings plan is a great choice for someone who wants to save and accumulate wealth for the future. It helps you create financial discipline in your life. Along with life insurance coverage, such plans also provide guaranteed returns. With the guaranteed returns received from the plan, you can easily plan and fulfil your long-term and short-term goals.
Edelweiss Tokio Life – Guaranteed Savings STAR is a guaranteed returns plan designed for you to save for your future. You can choose to receive your pay-out as lumpsum or as a regular stream over 5 years. With two plan options, i.e., Base Cover and Enhanced Cover, you can also protect your loved ones with 10x and 20x sum assured of the premium paid, respectively.
This plan helps any earning/business professional to set aside regular savings as small as Rs. 500 per month for wealth creation and tax-benefits. Be it a working woman, salaried professional, self-employed or businessman, this plan provides you a boost to fulfil your goals. With a savings plan, you can achieve life goals like child’s education or marriage. You can also fulfil other goals such as buying a luxury car, your dream home or planning a peaceful retirement.
Yes, all the benefits in this plan are guaranteed.
Life Cover is available throughout the policy term, provided all premiums are paid and the policy is in-force.
The product offers following two Plan Options. The Policyholder needs to select one of the Plan Options at inception – Base and Enhanced Cover.
With ‘base’ plan option, there is an additional optional benefit of Family Income Benefits - Family Income Benefits on Death and Family Income Benefits on Critical Illness and Death. This benefit ensures that in case of an unfortunate event of death or diagnosis of covered Critical Illness of the Life Insured, you and your loved ones don’t have to compromise on your dreams as you/they will continue to receive benefit.
For the Base Cover option, the Premium Paying Term (PPT) options are 5, 8, 10 & 12 years. However, if you plan to go for the Enhanced Cover option, the Premium Paying Terms (PPT) are 8, 10 and 12 years.
Yes, you can get a policy loan once policy acquires surrender value.
You have a period of 15 days from the date of the receipt of the policy document. Policies sold through Distance Marketing will have a free look period for 30 days.
In case of death due to suicide within 12 months from the risk commencement date or from the date of revival of the policy, your beneficiary shall be entitled to receive at least 80% of the Total Premiums Paid, provided the policy is in in-force.
A rider is an additional and optional benefit that you can choose, to enhance your plan.
Following are the riders available with this plan:
Grace period of 15 days, where you pay the Premium monthly, and 30 days in all other cases, is available.
When bought online, the minimum premium for annual mode is Rs 6,000, for semi-annual mode is Rs. 3,072, for quarterly mode is Rs. 1,560 and for monthly is Rs. 500. There is no limit for maximum premium and is subject to board approved underwriting policy.
The minimum entry age without Family Income Benefit is 0 years and with Family Income Benefit is 18 years.
*Applicable where the taxable income exceeds Rs. 5 crores. Tax benefit of ₹ 64,116 is calculated at highest tax slab rate of 30% (in addition to income tax, a surcharge of 37% is applicable where the Taxable Income exceeds 5 Crores) on life insurance premium u/s 80C of ₹ 1,50,000. As per provisions of Income Tax Act, 1961. Tax benefits are subject to changes in tax laws.
^ Illustration for Life Insured - Age:25-year-old (male) | Annualized Premium: Rs. 34,091 (excluding taxes) | Policy term: 25 years | Premium Paying Term: 12 years | Payment Frequency: Monthly| Plan Option: Base | Maturity Benefit: Lumpsum | Employee of Edelweiss: No | Distribution channel: Online | Lumpsum received at the end of the 25th policy year | Total Amount received by the Policyholder: Rs. 10,90,238
^^ Illustration for Life Insured - Age:25-year-old (male) | Annualized Premium: Rs. 56,819 (excluding taxes) | Policy term: 25 years | Premium Paying Term: 10 years | Payment Frequency: Annual| Plan Option: Base | Maturity Benefit: Lumpsum | Employee of Edelweiss: No | Distribution channel: Online | Lumpsum received at the end of the 25th policy year | Total Amount received by the Policyholder: Rs. 17,40,286
1 - This is applicable only if all due premiums are paid and the policy is inforce.
2 - The minimum premium amount under this plan us ₹ 500/- per month when bought online. The premium amount is applicable when premium payment mode is selected as annual. The minimum premium for annual mode is consistent with minimum sum assured on death available under the product. For other than annual mode, the minimum premium is consistent with minimum premium for annual mode after allowing for modal factors.
3 - As per provisions of Income Tax Act, 1961. Tax benefits are subject to changes in tax laws.
4 – On selecting plan option Enhanced Cover, the highest out of these will be paid out - 20 times the annualized premium or any absolute amount assured to be paid on death or 20 times the annual premium. Annualized Premium shall be the premium amount payable in a year chosen by the Policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any. Annual Premium shall be the premium payable in a year chosen by the Policyholder, including loadings for modal premiums and the underwriting extra premiums, if any but excluding the taxes, rider premiums, if any.
5 – On selecting plan option Base Cover, the Sum Assured on Death at any point of time, provided the policy is in-force is highest of: - 10 times the annualized premium or any absolute amount assured to be paid on death or 10 times the annual premium. Annualized Premium shall be the premium amount payable in a year chosen by the Policyholder, excluding the taxes, rider premiums, underwriting extra premiums and loadings for modal premiums, if any. Annual Premium shall be the premium payable in a year chosen by the Policyholder, including loadings for modal premiums and the underwriting extra premiums, if any but excluding the taxes, rider premiums, if any.
9- Riders are Optional and available at extra cost. Please refer rider brochure for more details.
Edelweiss Tokio Life - Accidental Total and Permanent Disability Rider is only an Individual, Non-Linked, Non-Par, Pure Risk Premium, Health Insurance rider. UIN 147B001V03
Edelweiss Tokio Life - Accidental Death Benefit Rider is only the name of an Individual, Non-Linked, Non-Par, Pure Risk Premium, Health Insurance Rider. UIN 147B002V03
Edelweiss Tokio Life - Critical Illness Rider is only the name of the Individual, Non-Linked, Non-Par, Pure Risk Premium, Health Insurance rider. UIN 147B005V03
Edelweiss Tokio Life – Payor Waiver Benefit Rider is only the name of the Individual, Non-Linked, Non-Par, Pure Risk Premium, Life Insurance Rider. UIN 147B014V04
Edelweiss Tokio Life - Waiver of Premium Rider is only the name of the Individual, Non-Linked, Non-Par, Pure Risk Premium, Health Insurance rider. UIN 147B003V04
Edelweiss Tokio Life – Income Benefit Rider is only the name of an Individual, Non-Linked, Non-Par, Pure Risk Premium, Life Insurance Rider. UIN 147B015V01
^¹ - Festival Of Insurance Awards 2020 on Sahara Samay Hindi News Channel on 27th December, 2020 - YouTube. For CSR Activity and Digital Sales Channel (Insurance Alerts Excellence Awards 2020)
^² - https://cloud-user-recordings-ffmpeg-converted-prod.s3-ap-south-1.amazonaws.com/recordings/ccd117b0-be48-11eb-9782-b590083730e8/3b7e25a3-b9b4-47b0-9f68-70eeb8062d60/ccd117b0-be48-11eb-9782-b590083730e8_0001_474830a2.mp4 (Quantic Business Media)
^³ - https://thealdenglobal.com/inflection-conference-awards/
^⁴ - Claim statistics are for Financial Year 2021-22 and is computed basis individual claims settled over total individual claims for the financial year. For details, refer to Public Disclosures in our Website.
Edelweiss Tokio Life Insurance Company Limited.
IRDAI Reg. No.: 147. CIN: U66010MH2009PLC197336. UIN: 147N074V01. | ARN: LP/2753/Aug/2022
Registered & Corporate Office: 6th Floor, Tower 3, Wing ‘B’, Kohinoor City, Kirol Road, Kurla (W), Mumbai 400070.
Toll Free No.: 1800 212 1212 | Fax No.: +91 22 6117 7833 | www.edelweisstokio.in
Flower & Edelweiss are trademarks of Edelweiss Financial Services Limited; Tokio is Trademark of Tokio Marine Holdings Inc. and used by Edelweiss Tokio Life Insurance Co. Ltd. under license.
Edelweiss Tokio Life - Guaranteed Savings STAR is a Non-Linked, Non-Participating, Individual, Savings, Life Insurance Plan. Tax benefits are subject to changes in the tax laws. The tax benefits under this Policy may be available as per the prevailing Income Tax laws in India. For more details on risk factors and terms and conditions, please read sales brochure carefully before concluding a sale.
BEWARE OF SPURIOUS PHONE CALLS AND FICTIOUS/FRAUDULENT OFFERS
IRDAI is not involved in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint