edelweiss tokio life insurance
Edelweiss Tokio Life Retirement Policy

Edelweiss Tokio Pension Plans

Edelweiss Tokio Pension Plans are insurance policies designed to ensure a comfortable life after retirement. These plans not only offer protection but also function as investment tools, helping you save up money to cover your expenses in retirement, such as medical bills and daily living costs.

One of the company’s key benefits is its impressive claim settlement ratio of 99.20%, meaning it reliably pays out claims, giving you peace of mind. Additionally, they have over 84,694 agents available to provide excellent customer support. With careful investment and planning through these pension plans by Edelweiss Tokio, you can ensure a steady income and secure your financial future during your retirement years.

Features and Benefits of Edelweiss Tokio Pension Plans

Here is a list of the key features and benefits of the Edelweiss Tokio Pension Plans. 

  • Flexibility to Retire

One of the key features and benefits of Edelweiss Tokio Pension Plans is that they offer you the flexibility to determine your retirement age based on your financial goals. By starting to invest early, you harness the power of compounding, which allows your savings to grow substantially over time. It ensures that you can retire at a time that suits you best without concerns about financial security. Whether you aim for an early retirement or prefer to work longer, these pension plans by Edelweiss Tokio empower you to make that choice confidently.

  • Flexible Payment Options

With Edelweiss Tokio Pension Plans, policyholders will have the freedom to select their preferred payment mode and frequency. Whether you prefer making a lump sum payment for the entire policy duration or over a fixed period, or if you opt for periodic payments such as yearly, half-yearly, quarterly, or monthly, these plans adapt to your financial preferences. This flexibility ensures that your investment strategy aligns seamlessly with your income patterns and financial planning needs.

  • Regular Income Stream

Edelweiss Tokio Pension Plans provide you with the assurance of a steady income post-retirement. You have the option to receive your accumulated savings as a lump sum or in regular installments—annually, semi-annually, quarterly, or monthly—throughout your retirement phase. This feature allows you to manage your expenses efficiently and maintain a consistent standard of living after you stop working. It provides peace of mind knowing that your retirement income is structured according to your financial requirements and preferences.

  • Tax Benefits

Investing in Edelweiss Tokio Pension Plans offers attractive tax benefits under prevailing tax laws. Contributions made towards your pension plan are eligible for tax deductions, helping you reduce your taxable income during your working years. Additionally, the growth of your investment within the plan is tax-deferred, allowing your savings to compound without immediate tax implications. These tax advantages make Edelweiss Tokio Pension Plans a smart choice for optimizing your retirement savings while minimizing your tax liability.

  • Life Cover and Financial Protection

Last but not least, beyond retirement benefits, Edelweiss Tokio Pension Plans provide life cover to protect your loved ones in the event of your untimely demise. Thus, it ensures that your family receives a financial cushion to cover their expenses and maintain their lifestyle. The combination of retirement planning and life cover in a single policy offers comprehensive financial protection, which gives you and your family peace of mind for the future.

Top Edelweiss Tokio Pension Plans

Here are the top Edelweiss Tokio Pension Plans.

1. Saral Pension Plan

Edelweiss Life – Saral Pension is a dedicated insurance plan designed to secure your retirement years with guaranteed income, which ensures you can enjoy life to the fullest without financial worries. This pension plan allows you to plan for your retirement by providing guaranteed annuity benefits. It offers flexibility with two options tailored to meet your specific needs. With Saral Pension, you make a single payment and receive annuity benefits for your entire lifetime to provide financial stability and peace of mind during your golden years.

ParametersDetails
Minimum Entry Age (age last birthday)40 Years
Maximum Entry Age (age last birthday)80 Years
Premium Paying TermSingle Pay
Minimum / Maximum Maturity AgeNot Applicable
Minimum Annuity Installment
  • Rs. 1,000 per month for Monthly Annuity Mode
  • Rs. 3,000 per quarter for Quarterly Annuity Mode
  • Rs. 6,000 per half-year for Half-yearly Annuity Mode
  • Rs. 12,000 per annum for Yearly Annuity Mode.

Key Features & Benefits: 

  • Guaranteed Regular Annuity Income for Life

One of the key benefits of Edelweiss Life – Saral Pension is that it provides you with guaranteed annuity income throughout your lifetime under any annuity option you choose. This ensures a steady stream of income post-retirement, allowing you to maintain your standard of living without worrying about financial uncertainties.

  • Life Annuity with Return of Purchase Price (ROP)

With this option, you receive annuity payments for your entire life. Additionally, in the unfortunate event of your demise, the purchase price of the policy is returned to your nominee or legal heirs. This feature provides financial security not only during your lifetime but also ensures that your loved ones are protected after you.

  • Joint Life Last Survivor Annuity with ROP on Death of the Last Survivor

Another major highlight of the plan is that it offers annuity payments to you throughout your life. After your demise, if your spouse survives, they continue to receive the same amount of annuity for their lifetime. Moreover, upon the death of the last survivor, the purchase price is returned to the nominee or legal heirs. It provides comprehensive financial support for both you and your spouse, ensuring financial stability for your family.

  • Flexibility in Annuity Payment Modes

Edelweiss Life—Saral Pension offers flexibility in choosing how you receive your annuity payments. Depending on your financial needs and preferences, you can opt to receive annuity income monthly, quarterly, half-yearly, or yearly. You also have the flexibility to change the annuity mode at any time, effective from the next policy anniversary, providing you with adaptability as your financial situation evolves.

2. Forever Pension

Edelweiss Life – Forever Pension is an insurance plan designed to ensure you have guaranteed income during your retirement years. This plan aims to provide financial security so that you can enjoy your golden years without having to worry about money. It enables you to indulge in life’s necessities and fulfill your retirement dreams without compromising on your lifestyle. With Edelweiss Life – Forever Pension, you can have peace of mind knowing that your financial needs are taken care of, which allows you to focus on making the most of your retirement years.

Parameters Details 
Minimum Entry Age (age last birthday)

For Immediate Annuity – 40 years

 

For Deferred Annuity – 35 Years

Maximum Entry Age (age last birthday)85 years
Premium Paying TermSingle Pay
Minimum / Maximum Deferment PeriodMinimum: 1 year Maximum: 10 years
Minimum / Maximum Maturity AgeNot Applicable

Key Features & Benefits:

These are as follows: 

  • Guaranteed Regular Annuity for Life

Edelweiss Life – Forever Pension provides guaranteed annuity payments throughout the lifetime of the annuitant under any chosen annuity option. This ensures a steady and reliable income stream during retirement, giving you financial security and peace of mind.

  • Customizable Plan Options

You have the flexibility to customize your pension plan according to your financial needs. Edelweiss Life – Forever Pension offers a variety of annuity options, including immediate and deferred options. This allows you to select the option that best suits your retirement goals and timeline.

  • Second Life Coverage

This plan allows you to include a second life under the same annuity plan. In a joint life annuity, the primary annuitant receives payouts during their lifetime. Upon the primary annuitant’s death, the secondary annuitant (who could be the spouse, major child, parent, major grandchild, grandparents, or sibling of the primary annuitant) continues to receive annuity payments for their lifetime. This feature ensures financial protection for your loved ones after your demise.

  • Higher Annuity Instalments

Edelweiss Life – Forever Pension offers higher annuity rates for higher purchase prices. This means that if you invest a larger sum, you will receive proportionally higher annuity payouts. This feature allows you to maximize your retirement income based on your investment capacity, which ensures that you receive adequate financial support during your retirement years.

3. Easy Pension

Edelweiss Life – Easy Pension is a unit-linked retirement solution designed to help you plan for a financially secure and fulfilling retirement. This solution provides flexibility by allowing you to receive a portion of your fund as a lump sum at your chosen retirement age, known as the vesting age. This age could either be your standard retirement age or an earlier date if you plan to retire early. The remaining portion of your fund is then invested to provide you with a regular income in the form of annuity payments, which ensure you can enjoy your retirement years to the fullest.

ParametersDetails
Minimum Entry Age18 years
Maximum Entry Age (Last birthday)75 Years
Minimum Maturity Age (Last birthday)45 Years
Maximum Maturity Age (Last birthday)85 Years
Policy Term (PT)10-67 Years

Key Features and Benefits: 

These are as follows: 

  • Long Life Cover

Edelweiss Life—Easy Pension offers life cover protection until you reach 85 years of age. This ensures financial security for an extended period, providing peace of mind knowing that your loved ones are protected.

  • Flexible-Premium Payment Options

You have the flexibility to choose how you pay your premiums with Edelweiss Life – Easy Pension. You can opt for the Single Pay option, where you complete all payments at once. Alternatively, you can choose the Regular Pay option and spread out your payments at periodic intervals—annual, half-yearly, quarterly, or monthly. 

  • Satisfy Your Risk Appetite

This plan offers two investment strategies tailored to your risk appetite and financial goals—Aggressive Strategy and Conservative Strategy. Depending on your preferences, you can allocate your investments between the Pension Growth Fund and the Pension Secured Fund. This choice is made at the outset of the policy, allowing you to align your investments with your risk tolerance and investment objectives.

  • Tax Benefits

Another major benefit is that you can enjoy tax benefits under section 80CCC of the Income Tax Act for the premiums paid towards Edelweiss Life – Easy Pension. Thus, it ensures that you can save on taxes while planning for your retirement, which makes it a tax-efficient investment option.

How Does Edelweiss Tokio Pension Plan Work?

Mr Atul Dhiman, a 35-year-old software engineer working in the IT sector, has started thinking about his long-term financial security. Understanding the importance of planning for retirement, he decides to invest in the Edelweiss Tokio Easy Pension Plan. This pension plan is designed to help individuals like Atul accumulate a retirement corpus that ensures a stable and secure income during their post-retirement years.

The plan works on the principle of systematically building a retirement corpus. The premiums Atul pays are invested in a mix of debt and equity instruments, aiming to maximize returns while managing risks. Over the years, the power of compounding has helped his investments grow. The plan also provides tax benefits under Section 80C of the Income Tax Act, reducing his taxable income.

Factors to consider while purchasing Edelweiss Tokio Pension Plans

Listed below are the factors to consider while buying pension plans from Edelweiss Tokio. 

  • Monthly Expenses

It’s crucial to estimate your future monthly expenses accurately. Your pension plan should be sufficient to cover these expenses, including essentials like housing, food, utilities, and other regular costs of living.

  • Consider Inflation

Over time, inflation erodes the purchasing power of money. Your pension plan should generate a corpus that not only meets your current needs but also grows enough to combat inflation effectively. This ensures that your income remains sufficient to maintain your standard of living throughout your retirement.

  • Life Expectancy

Consider your life expectancy when choosing a pension plan. It should provide income for as long as you live, ensuring that you do not outlive your savings. Plans that offer lifelong annuity payments or guaranteed income until a certain age (like 85 years) can be assured in this regard.

  • Medical Expenses

Healthcare costs tend to increase with age. A good pension plan should factor in provisions for medical expenses, ensuring that you have enough funds to cover healthcare needs, including regular check-ups, treatments, and emergencies.

  • Outstanding Loans

If you have any outstanding loans, such as mortgages or other debts, your pension plan should be structured to ensure these obligations are paid off comfortably. It should also allow for continued income to maintain your financial stability post-retirement.

Buying Process: Steps to Buy Edelweiss Tokio Pension Plans

Here is a list of the steps to buy Edelweiss Tokio Pension Plans.

  • In the first step, you will need to visit Edelweiss Tokio’s official website using your smartphone or laptop.
  • After that, at the top, you will see a section titled “Our Products.” Click on “All Products.”
  • The moment you click on it, you will need to find out the pension plan you want to buy. For example, if you want to buy the Edelweiss Tokio Forever Pension Plan, you need to find it and then click on “Know More.”
  • Once you click on it, the plan page will open. Just below the banner, you will see a box asking you to enter your name, mobile number, gender, annual income, and date of birth. After entering all the details, click on the “Get Started” button.
  • When you click on it, a message will appear: “Thank you for sharing your details with us. Our Investment expert will contact you soon to understand your life insurance needs.”
  • Ensure you keep your mobile number active. Agents will contact you using your registered contact number.

Frequently Asked Questions

Listed below are the frequently asked questions related to the Edelweiss Tokio Pension Plans. 

If you wish to cancel your Edelweiss Tokio pension plan, you can fill out a surrender form and submit it at any branch office along with applicable cancellation charges. The cancellation process typically takes up to 10 days to complete and record. The refund amount will be calculated based on the Net Asset Value (NAV) at the current market price.

Yes, the Saral Pension Plan by Edelweiss Tokio allows for policy surrender, especially in cases of critical illness diagnosis.

Yes, you can avail a loan on Edelweiss Tokio Pension Plans.

Tax benefits may be available as per prevailing tax laws. Please note that tax laws are subject to change, affecting the availability of these benefits.

Yes, there is a 15-day free-look period from the date of receiving the policy document. Policies sold through Electronic Mode and Distance Mode have an extended free-look period of 30 days.

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