Edelweiss Life Assured Income STAR is a newly launched life insurance plan designed for people like you who want predictable income, long-term security, and peace of mind for your family. In today’s uncertain financial environment, relying only on market-linked investments may not always give you stability. That’s where a guaranteed income plan like Assured Income STAR becomes extremely relevant.
This article will help you understand how this plan works, what benefits you get, who should buy it, and whether it fits into your financial planning goals.
Why Guaranteed Income Plans Matter Today
You may already be investing in mutual funds, stocks, or real estate. While these options offer growth potential, they do not always provide consistent income. Life expenses such as household costs, children’s education, medical needs, or retirement income require stability.
A guaranteed income insurance plan ensures that you receive regular income irrespective of market conditions, while also providing life cover. This combination makes it ideal for conservative investors and long-term planners.
What Is Edelweiss Life Assured Income STAR?
Edelweiss Life Assured Income STAR is a non-participating life insurance plan that offers guaranteed income payouts along with life cover. The plan is designed to start giving you income early and continue it consistently for a long period.
The core promise of this plan is simple: you pay premiums for a limited period, and in return, you receive guaranteed income plus maturity benefits and life cover.
Key Features of Edelweiss Life Assured Income STAR
- Guaranteed regular income
- Choice of two plan options
- Option to receive income in advance
- Income accumulation facility
- Flexible payout frequency
- Additional benefits for ECS and existing customers
- Life cover throughout the policy term
Two Plan Options Explained
Option 1: Regular Income Option
This option is suitable for you if your primary goal is stable and predictable income. Under this option:
- You receive guaranteed income every year
- Income starts after the premium payment term
- Income continues till policy maturity or death
- Maturity benefit is paid at the end of the policy term
This option is ideal if you want income support for household expenses, school fees, or EMI payments.
Option 2: Regular Income Advantage Option
This option is designed for those who want early liquidity along with regular income. Under this option:
- You receive an immediate payout after paying the first premium
- Regular guaranteed income starts thereafter
- You receive a maturity benefit at the end of the policy
- Life cover continues throughout the policy term
This option works well if you need early cash flow for business setup, debt reduction, or personal milestones.
Premium Payment and Policy Term Options
The plan allows you to choose from multiple premium payment terms and policy durations. You can pay premiums for a limited number of years while enjoying benefits for a much longer time.
This flexibility helps you align the policy with your earning years while securing income during later stages of life.
Income Benefit Payout Options
Income in Arrears (Default Option)
By default, income benefits are paid at the end of each policy year. This suits individuals who do not need immediate liquidity.
Income in Advance Option
If you prefer receiving income earlier, you can opt for income payout at the beginning of each policy year. This option is available when premiums are paid regularly and ECS is enabled.
This is helpful if you want predictable cash flow at the start of the year for planned expenses.
Income Accrual Option Explained
If you do not need immediate income, you can allow your income payouts to accumulate within the policy. These accumulated amounts earn interest and can be withdrawn later.
This feature is ideal if you want to build a lump sum for a future goal like your child’s wedding or for your retirement.
Flexible Income Payout Frequency
You can choose how often you want to receive income:
- Annual
- Half-yearly
- Quarterly
- Monthly
This flexibility helps you match income with your regular expense cycle.
Death Benefit Under the Plan
In case of the unfortunate death of the life insured during the policy term, a lump sum death benefit is paid to your nominee.
The death benefit will be the highest of:
- Sum assured on death
- Multiple of annualized premium
- 105% of total premiums paid
This ensures financial protection for your family even if something happens to you.
Maturity Benefit
At the end of the policy term, you receive a guaranteed maturity benefit. This is paid even if you have already received regular income during the policy period.
The maturity amount can be used for retirement planning, debt-free living, or wealth transfer.
Additional Benefits Offered
Benefit for ECS Mandate
If you choose ECS or auto-debit for premium payments, you receive an additional guaranteed benefit percentage.
Benefit for Existing Edelweiss Customers
Existing policyholders of Edelweiss Life Insurance enjoy extra guaranteed benefits on income payouts.
Who Should Buy Edelweiss Life Assured Income STAR?
- Salaried professionals looking for stable income
- Self-employed individuals with irregular cash flow
- Parents planning education expenses
- Individuals planning retirement income
- Risk-averse investors
Tax Benefits
Premiums paid may be eligible for tax benefits under Section 80C of the Income Tax Act, subject to prevailing laws. Income and maturity benefits may also be tax-free under Section 10(10D), as per applicable conditions.
Please consult your tax advisor for personalized advice.
Advantages of Edelweiss Life Assured Income STAR
- Guaranteed returns with zero market risk
- Regular income plus life cover
- Flexible payout and accumulation options
- Additional loyalty benefits
- Strong financial backing of Edelweiss Life Insurance
Things to Keep in Mind
- This is not a high-return investment plan
- Liquidity is limited in early years
- Best suited for long-term financial planning
Frequently Asked Questions (FAQs)
Is Edelweiss Life Assured Income STAR a safe plan?
Yes, it offers guaranteed benefits and does not depend on market performance.
Can I receive monthly income?
Yes, monthly income payout is available under this plan.
Is life cover included?
Yes, life cover is provided throughout the policy term.
Can I accumulate income instead of withdrawing?
Yes, you can choose the income accrual option.
Edelweiss Life Flexi Dream Plan: A Smarter Way to Secure Your Family’s Dreams
Best Term Insurance Plans in India – Comparison & Benefits
Conclusion: Should You Buy Edelweiss Life Assured Income STAR?
If you are looking for a reliable, predictable, and long-term income solution with life cover, Edelweiss Life Assured Income STAR can be a strong addition to your financial portfolio.
It may not make you rich overnight, but it will definitely help you sleep peacefully knowing that your income and family security are taken care of.