Guaranteed Savings Star Customize
Edelweiss Tokio Life - Guaranteed Savings STAR
Savings Plan That Makes Your Har Sapna Poora!
| Policy Year | Maturity Benefit |
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Reasons Why You’re Bound To Love Us Back
99.20% Claim Settlement Ratio**
Our Promise of Integrity- 99.20% Claim Settlement Ratio** for FY 2023
Best Customer Experience
Customer Experience Excellence in CX 2022 – Economic Times CX Summit^³
Reasons Why You’re Bound To Love Us Back
99.20% Claim Settlement Ratio**
Our Promise of Integrity- 99.20% Claim Settlement Ratio** for FY 2023
Best Customer Experience
Customer Experience Excellence in CX 2022 – Economic Times CX Summit^³
Fire Away Queries
Like teachers say, there are no silly questions
Why should I invest in a guaranteed savings plan?
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.
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Why should I opt for Edelweiss Tokio Life – Guaranteed Savings STAR?
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.
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What goals can I meet with this plan?
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.
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Are all the benefits guaranteed?
Yes, all the benefits in this plan are guaranteed.
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Is the Life Cover available throughout the policy term?
Life Cover is available throughout the policy term, provided all premiums are paid and the policy is in-force.
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How many plan options are available?
The product offers following two Plan Options. The Policyholder needs to select one of the Plan Options at inception – Base and Enhanced Cover.
- Base Cover offers 10 times the Annual/Annualized Premium.
- Enhanced Cover offers 20 times the Annual/Annualized Premium.
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Are there any additional benefits available?
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 benef
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What is the Premium Paying Term (PPT) for this plan?
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.
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Can I get a loan through this plan?
Yes, you can get a policy loan once policy acquires surrender value.
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What is the free look period of this policy?
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.
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Are there any exclusions?
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.
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What is a Rider?
A rider is an additional and optional benefit that you can choose, to enhance your plan.
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Are there any Riders available with Edelweiss Tokio Life – Guaranteed Savings STAR?
Following are the riders available with this plan:
- Edelweiss Tokio Life - Accidental Death Benefit Rider
- Edelweiss Tokio Life - Accidental Total and Permanent Disability Rider
- Edelweiss Tokio Life - Critical Illness Rider
- Edelweiss Tokio Life - Waiver of Premium Rider
- Edelweiss Tokio Life - Payor Waiver Benefit Rider
- Edelweiss Tokio Life - Income Benefit Rider
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Do I get any Grace Period?
Grace period of 15 days, where you pay the Premium monthly, and 30 days in all other cases, is available.
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What is the minimum and maximum premium of this plan?
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.
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What is the minimum entry age to buy the plan?
The minimum entry age without Family Income Benefit is 0 years and with Family Income Benefit is 18 years.
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We are always there for you!
For queries, write to onlinesales@edelweisstokio.in
Contact us on 022 6611 6044
1- This is applicable only if all due premiums are paid and the policy is inforce.
2 - The minimum premium amount under this plan is ₹ 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 Sum Assured on Death at any point of time, provided the policy is in-force is highest of: - 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.
6 - Income Benefit payouts are paid End of the Year.
9- Riders are Optional and available at extra cost. Please refer rider brochure for more details.
*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.
^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/
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.
IRDAI Reg. No.: 147. CIN: U66010MH2009PLC197336. UIN: 147N074V01.
ARN: WP/2588/Jun/2022