A Plan that gives Annuity Benefits Immediately

In today’s fast paced world, it is becoming increasingly important to plan your life well. Given our hectic work lives today, it is important that you plan for a peaceful and secure retirement in the future. Many of us also plan to retire early and fulfill our unrealized dreams post retirement. It is, thus, necessary to ensure that you have adequate financial resources to enjoy a stress-free post-retirement life. 

Edelweiss Tokio Life – Immediate Annuity Plan enables you to plan your retirement with guaranteed annuity benefit. It offers a choice of multiple options as per your requirements. With this plan, you pay only once and avail immediate annuity benefits for lifetime.

As this is an annuity plan, its primary goal is to offer you plan a smooth retirement (or superannuation). You can opt for a regular annuity payout throughout your lifetime and ensure financial stability for your family if you’re not around.

Yes, this plan covers death due to COVID-19.

Maturity Benefit is equivalent to Annuity in this plan.

A Single pay plan is a life insurance plan that requires you to pay the premium amount only once.

The minimum premium amount is Rs. 1 lakh. However, there is no defined maximum premium amount, as it will be subject to Board approved underwriting policy.

 The minimum and maximum entry age of the annuitant is 18 and 85 years respectively, according to the last birthday.

As it is a Single premium paying term, you have to pay your premium only once.

 The Annuity payout can start immediately with Edelweiss Tokio Life – Immediate Annuity Plan.

The Annuity amount depends upon the mode of pay-out. For yearly pay-out, the sum assured is 105% of the premium, for half-yearly, it is 51%, for quarterly, it is 25% and for monthly it is 8.33%.

Yes, there is a free look 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.

Grace period of 15 days, where you pay the Premium on a monthly basis, and 30 days in all other cases, is available.