Thursday, January 11, 2018

Edelweiss Tokio Life Wealth Plus Plan – UnYakeenable

There is nothing more important than the comfort of your loved ones, and a good life insurance will ensure that even when you are gone.
That is where we need insurance. What if someone needs an integrated plan which gives an ability to invest along with regular insurance benefit?  ULIP is a product which fulfills this requirement. Earlier ULIP was considered as one of the high-cost insurance & people used to avoid including these plans in their portfolio. Those are the gone days now because Edelweiss Tokio Life Insurance has introduced a ULIP plan called WealthPlus that has unbelievable features making it a #UnYakeenable product in this segment.

Wealth Plus is the first ULIP product in the country which comes with zero allocation and administration charges, due to which 100% of your money will be invested in capital market instrument giving you benefits of growth for your entire investment.
Few of the key features are:
•             No Premium allocation & Policy administration charges.
•             Additional allocation (as a % one annualised Premium) on every premium paid and increases every 5 years
•             Extra allocations- added with every premium in 1st 5 policy years -1%
•             Premium Booster- added at the end of each year starting from the 6th policy year till the end of the premium paying term.

•             Over 20 years premium paying term, 80% of one-year premium is invested via additional allocation.
In order to get all above benefits policyholder has two follow two basic things. First Pay the premium on time & second stay invested.

One of the #UnYakeenable features is the cashback you get on your premium payment by way of contributing additional units on every premium paid during the insurance period. The additional advantage is the cashback starts from 1% of the premium payment for the first five years, increasing to 3%, 5%, and 7% respectively for next three years. The total effective cashback sums up to 80% of the 1-year premium over a twenty-year premium paying term thereby resulting in accelerated wealth accumulation.
The plan is conceptualized with enhanced features based on the customer feedback on Policy Baazar.

An additional feature of the Wealth Plus plan is the Rising Star Benefit which ensures that the child’s future is protected. This benefit allows proposer to invest in the name of his or her minor child. In addition to this, a lump sum amount is paid to the family in the event of any casualty of the proposer. Also, all the future premiums payable will immediately get invested in the fund and additional allocations are added annually as required in order to make the corpus grow faster.

As ULIPs are primarily insurance products. Fund managers take smart decisions while using investment strategies which make ULIP less risky than other investment options.The WealthPlus plan gives you an option to choose either one of the two investment strategies based on individual profile and Risk appetite.

Option 1- Life Stage and Duration Based

Option 2- Self Managed:

Along with all above #UnYakeenable benefits, this plan comes with tremendous flexibilities.  The policyholder can change the PPT (Premium Paying Term) along with unlimited switches between funds, which makes it much better investment option than a mutual fund or any other investment products as you get an advantage of life cover as well. Additionally, this plan also gives the option of partial withdrawal and Top-up premiums.
So if you are planning to create a comprehensive insurance portfolio for different purposes, Wealth Plus can be the best option for you. 

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