Edelweiss Tokio Life-Smart Lifestyle is a traditional insurance plan. A participating plan, its investment returns depend on the annual bonus the company declares. It also comes with guaranteed additions that increase the maturity corpus over time.
The offer
Your premium depends on factors such as: sum assured, your age, policy term, premium-payment term, and the options chosen.
There are two options in the plan. The base plan works like an endowment plan. It pays the death benefit if a policyholder dies during policy term, and the plan terminates.
If policyholder survives the term, it pays the maturity benefit. The other option—family protection plan—works like a child plan that pays the death benefit on death of policyholder; and on maturity it pays the maturity corpus also, as planned.
In terms of investment benefits, apart from the other benefits that come with participating plans, every 5 years it increases the sum assured. At the end of the 5th year it adds 10% to the sum assured, 15% at the end of 10th, 20% at the end of 15th and 25% at the end of 20th. So, if you choose a policy term of 15 years, you are entitled to an additional 45% of the sum assured. If you choose a 20-year policy, the add-on is 70%.
Also, every year the policy adds 2% to the sum assured (which is inclusive of the periodic increase), which is again payable on maturity.
