I have taken a life insurance policy from Edelweiss Tokio called "Edelweiss Saral Jeevan Bima". The details of my policy is given below.

Term: 15 years Premium Amount: Rs 50,000.00 Sum Assured: Rs 500,000.00 Frequency of Payment: Annual My age: 23 years (Non-smoker, non-alcoholic)

I want to know how much return will I get after the maturity?

Brochure - https://www.edelweisstokio.in/term-insurance-plans/saral-jeevan-bima

PS: I bought this plan to save tax without reading further into the plan. Any help in understanding the maturity benefit is much appreciated.

  • 2
    This is term insurance (a concept totally unknown to most people in India) and there is no maturity value whatsoever. If you die before the end of the 15-year term, the beneficiary gets the assured sum. If you don’t die in the next 15 years, you get no money back whatsoever. The real question is whether that 50,000 premium is a one-time premium that you have paid or is it an annual premium? If the latter, they really are crooks. Feb 23, 2021 at 18:51

1 Answer 1


Looking at the details, this is pure term insurance. Term insurance does not pay out at maturity - it pays out in the event that you die within the term, and pays nothing if you do not. So there is no "return" at maturity.

This is specified in one of the FAQs:

Does this plan have a Maturity Benefit?

As this is a pure term plan, no benefit is payable on maturity.

Term life insurance is used to provide for your dependents, or anyone that depends on your income if you were to die. If you do not have such dependents, then there is no need for term life insurance, other than possibly a small amount to cover any funeral/burial expenses.

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