Edelweiss Life - Flexi Dream Plan

Edelweiss Life – Flexi Dream Plan is a life insurance plan designed to provide a protection to your family from any financial loss in case of an untimely death and also provide a regular income and lumpsum to you and your family. It has various options to help you customise the plan as per your requirement.

The product offers following two plan options: Milestone Option & LiveLong Option. 

Milestone option offers life cover, survival benefits, and option to accrue survival benefits. Under this plan option, you can choose from a policy term of 25, 30, or 40 years. 

LiveLong option offers life cover, survival benefits, and option to accrue survival benefits. Under this plan option, your policy term will: 

Policy Term = 100 – Your Current Age 

Essentially, the plan will continue until you’re 100 years of age or pass away during the policy term.

This plan can help you achieve various financial goals such as buying a house, paying for a wedding, children’s education, retirement etc. The primary advantage of this plan is that you can accrue and withdraw your survival benefits at any time you want. This allows you to customize your payouts in a way that is optimal for your financial dreams. Additionally, this plan also secures your loved ones via life cover, meaning that your family is financially protected even in your absence.

Cash Bonus⁵ in the form of cash payout is payable annually in arrears every policy year, if declared, starting from the Income Start Year till maturity or death, whichever is earlier, while the policy is in-force. 

Terminal Bonus is the bonus paid only once on termination of the policy due to death, surrender or maturity. Terminal Bonus will be declared based on the performance of the participating fund and the Terminal Bonus amount will be calculated using declared Terminal Bonus rate which is expressed as per 1000 Sum Assured on Maturity (SAM)*. 

The minimum premium for this plan is: 

Annual- ₹35,000 

Semi-Annual- ₹17,920 

Quarterly- ₹9,100 

Monthly- ₹3,080 

There is no limit to maximum premium, but amount will be subject to board approved underwriting policy.

The minimum policy term under Milestone option is 25 years while the maximum policy term is 40 years. The maximum policy term available under LiveLong Option is 100 years (with entry age 0). Under LiveLong option, the policy will remain active until you are 100 years old (irrespective of entry age). The minimum policy term under LiveLong Option is 45 years (entry age 55) without Two-gether Option, and 55 (entry age 45) with Two-gether Option. 

Life Cover is available throughout the policy term, provided all premiums are paid and the policy is in-force.

Yes, this plan offers the Option to Accrue the Survival Benefits at any point during the policy term.

At any point during the policy term, the policyholder will have the option to accumulate a proportion of the survival benefits, up to 100%, instead of cash payouts.  

Accrued survival benefits will grow at a guaranteed rate of 2% p.a. each year plus a bonus rate declared annually by the Company each year based on the performance of the par fund. The accrued survival benefits, if any, will be part of the participating fund.  

The guaranteed rate and the bonus rate would be applicable on the accrued survival benefits at the beginning of the policy year.  

You can choose to withdraw the accrued survival benefit in any proportion up to 100% at any point during the policy term.  

The withdrawn portion will be paid out in lump sum, while the remaining balance of the accrued survival benefit will continue to accumulate within the policy. For illustrative purposes, if the policyholder elects to withdraw 60% of the total accrued survival benefits during the policy term, only this withdrawn portion (i.e., 60%) will be paid as a lump sum at that point. The remaining 40% will continue to accrue and shall be payable along with other applicable benefits at the earlier of policy maturity, surrender, or termination due to death. 

Yes, there are additional benefits for existing customers of Edelweiss Life Insurance. An Existing Customer Loyalty Benefit of 7% of the Annualized⁸ Premium will be paid at the end of policy year 2 for Existing Policyholders to reflect the savings both in terms of efforts by the Sales as well as by the Underwriting teams.

A rider is an additional and optional benefit that you can choose, to enhance your plan.

Following are the riders available with this plan: 

Edelweiss Life - Accidental Death Benefit Rider 

Edelweiss Life - Accidental Total and Permanent Disability Rider 

Edelweiss Life - Critical Illness Rider 

Edelweiss Life - Waiver of Premium Rider 

Edelweiss Life - Payor Waiver Benefit Rider 

Edelweiss Life - Income Benefit Rider 

Yes, you can get a policy loan once policy acquires surrender value.

You have a free look period of 30 days from the date of the receipt of the policy document for the policy issued after 1st April, 2024 and processing TAT for same is 7 days.

We will allow a Grace Period of 15 days where the Policyholder pays the Premium on a monthly basis, and 30 days in all other cases during which you must pay the Premium due in full. The Policy will be In-Force during the Grace Period.