Edelweiss Tokio Life Wealth Plus is a Unit Linked, Non-Participating, Individual Life Insurance Plan that combines investment and insurance benefits. The plan also offers a Rising Star Benefit that financially secures your children in case of your death.
Insurer pays premium in case of loss of life of parent
Create wealth for child’s aspirations
Tax Free maturity amount+
12+ plans available
Invest ₹10k/month your child will get ₹1 Cr Tax Free*
Edelweiss Tokio Life Wealth Plus is a unit-linked individual life insurance product. This means that the policy combines investment benefits with insurance coverage. The investment portion of your premium is allocated to units of funds chosen by you. The value of these units fluctuates based on the performance of the underlying assets. The insurance benefit provides a death benefit to your beneficiary in case of your unfortunate demise.
Life cover and savings growth: This plan provides a life insurance benefit and the opportunity to grow your money through investment in units of chosen funds.
Child benefit option: You can opt for the Rising Star benefit, which provides an additional lump sum payout and waives off future premiums for your child in case of your unfortunate demise.
Manage your funds: Choose between managing your fund allocation yourself or leaving it to Edelweiss Tokio Life's experts through their Life Stage and Duration-based Strategy.
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Conditions | Minimum | Maximum | ||||||||||||||||||
Entry Age | 1 year | 55 years | ||||||||||||||||||
Maturiy Age | 18 years | 70 years | ||||||||||||||||||
Policy Term | 10 years | 20 years | ||||||||||||||||||
Premium Payment Term | 5 years | Policy Term minus 1 | ||||||||||||||||||
Premium Paying Frequency | Annual | Half – Yearly | Quarterly | Monthly | |||||||||||||||||||
Sum Assured | 10 x Annualised Premium | 10 x Annualised Premium | ||||||||||||||||||
Top-Up Sum Assured | 1.25 x Top-up Premium | 1.25 x Top-up Premium | ||||||||||||||||||
Annualised Premium |
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No Limit | ||||||||||||||||||
Top-Up Premium | ₹5,000 | At any point of time the total top-up premiums paid shall not exceed the total of the base premiums paid at the point of time. |
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Below are the benefits of Benefits of the Edelweiss Tokio Life Wealth Plus Plan:
Loyalty Rewards: Edelweiss treats you like family! You'll receive an increasing loyalty bonus starting at 1% of your annual premium in the first 5 years, growing by 2% every 5 years thereafter.
Child Benefit (Rising Star): Safeguard your child's future. This optional benefit provides them with a payout in your absence, waives future premiums, and ensures the policy continues to grow for their benefit.
Investment Choice: Take charge or let the experts handle it. Choose between the Self-managed Strategy, where you control your investments, or the Life Stage and Duration Strategy, where Edelweiss Tokio Life's specialists manage the funds for you.
Easy Access to Your Money: Need some cash? No problem. From the 6th year onwards, you can make partial withdrawals from your accumulated amount.
Boost Your Savings: Got some extra money? Invest it in your policy! Top-up premiums allow you to add to your fund value and increase your potential returns.
Tax Advantages: Get tax benefits on both ends. Premiums paid may qualify for tax deductions under Section 80(C), and your returns may be tax-exempt under Section 10(10D).
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This plan does not offer a policy loan facility.
You have 15 days (30 days for policies sold through Distance Marketing) to review the policy documents after you receive them. If you disagree with any terms and conditions, you can return the policy with written reasons for objection. In this case, you will receive a refund consisting of:
Fund value at the date of cancellation
Non-allocated premium (if any)
Charges levied by cancellation of units
Minus:
Stamp duty
Medical expenses (if any)
Proportionate risk premium for the coverage period
Extra allocation added to your policy
The grace period for paying your premium is:
30 days for annual, semi-annual, and quarterly payments
15 days for monthly payments
Your policy will remain active during the grace period. If the premium remains unpaid after the grace period ends, the non-forfeiture provisions will apply.
If the fund value becomes zero after five (5) policy years, the policy will be terminated (foreclosed).
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If the Life Insured dies by suicide within 12 months from the Policy Commencement Date or from the Policy Revival Date, the Nominee or beneficiary of the Policyholder will receive the Fund Value as of the death notification date. Additionally, any charges except Fund Management Charges (FMC) and guarantee charges collected after the death date will be reimbursed and added back to the Fund Value as of the death notification date.
†Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
*Please note that the quotes shown will be from our partners
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
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#The lumpsum benefit is calculated if policyholder invested ₹10000 monthly for 10 years in the fund with a policy term of 20 years. This Point To Point past performance data of last 10 years has been used to illustrate a scenario for the customers benefit. It is assumed that the past 10 years returns would have also been delivered in last 20 years. This is not guaranteed and not in anyway indicative of what the customer may actually get 20 years from now. The investment is subject to market risk and the risk is borne by the policyholder.