Save Tiger – you must have heard that somewhere, but have you thought to save your savings, as the inflation is killing it. ULIP insures your life, but it does something more than that.
Most ULIP plans are always bought with a truckload of salt, but for a change, you can take this Unit Linked Insurance Plan with a pinch of sugar.
Edelweiss – Tokio Life has broken the conventional meaning of Unit linked Insurance Plan (ULIP) with this Unyakeenable Wealth Plus Plan by not only going totally digital for the purchase of its units but also redefining it by waiving off the allocation charges and policy administration charges completely.
What adds to the icing is that whatever is the policy premium paid by the consumer, the company also participates by giving a bonus to your premium paid on time. Its like for every 100 rupees of premium paid, it shall be considered as 101 ( an increase of 1 %) and shall keep on increasing on the completion of every 5-year tenure and so on. Below chart shows briefly how much confidence the company has in its product as it partners themselves with the growth of the consumer.
|Policy Year||Premium Booster||Total Boosters|
|1 – 5 yr||1%||5%|
|Total years:-||Total addition:-|
The policyholder here gets its loyalty benefits immediately, and it steadily increases as and when he/she loyally pays the premium and does not exit as additional boosters/units get added to his/her premium paid. Also, the fund managed by the ULIP can be switched over by the consumer without any extra cost thereby keeping the consumer in control of his/her fund of a fund selection criteria and thus avoiding the incidence of taxation on just a switchover.
There is a special additional benefit for a child’s future called as the Rising Star, where the lumpsum amount is paid immediately, plus all the future premium are waived off and instantly added to the policy and the benefits are paid to child thereby securing his future financial needs in case of an untimely death of the policyholder.
So by just paying the premium on time, one can cover not only the life of the dear family members, but they can make considerable savings and receive an upfront increment in return on the investment made.
With Edelweiss Wealth Plus plan, which is customer centric and has a flexible approach, one can easily say ” Bring it on Mutual Funds/SIP – we are ready!” And one can say that because of the USPs of this fund. Wealth Plus provides additional allocation i.e company contributes in your premium every time you pay the premium.
Also you can switch between the funds in different category at absolutely zero charges. And with all such benefits, returns in long term are better than mutual funds. And Yes, you get a life cover as per your policy as well. All these benefits makes this fund stand out in the cluttered market of invest products & makes it better than other comparable income options.