Tag Archive | insurance

Wealth Plus – A Futuristic ULIP Plan

Wealth Plus – A Futuristic ULIP Plan

Dear Readers,

The world is a competitive place to live in. Our life is not sustained by survival of the fittest, but our capacity to fight the competition and come out as a winner. Everyone wants to succeed and progress, but when we actually step in, we are only struggling to survive. Only a few make it as they are more focussed and innovative.
This applies to all, not only us, but for everyone. You have to be focused, but also take risks. You have to think out of the box to make it larger. There will be many hurdles, obstacles in your path, but you have to walk. When I say focussed it means to work on your goals – as an individual, your career, happy family, financial security, and as a company your budgets, meeting targets, financial position, expansion, profits. Also, when you are working towards your goal, you need to make certain investments, so that you and your family are secured.
Innovation will give you the boost to go further more. You cannot just do one thing all the time for it will bore you, and in a tough competition you will not sustain. Innovation will give an edge over others.

When I talk about innovation, there is one company who has changed the ULIP sector.
Edelweiss Tokio Life Insurance launched ‘Wealth Plus’ Plan, a first of its kind Unit-Linked insurance plan, on 4th November. An industry-first, it offers extra allocations contributed by the insurer to the customer’s plan.

Edelweiss Tokio Life – Wealth Plus

It is a futuristic plan which caters to the new generation tech-savvy people who are on the go, and who demand differentiated, competitive and innovative product.
Edelweiss Tokio Life analyzed the need of today’s generation protection and growth, and thus co-evolved Wealth Plus along with PolicyBazaar (India’s largest insurance market place).
How is it different?
Edelweiss Tokio Life has not only done away with premium allocation and policy administration charges but furthermore contributes additional units on every premium paid by us thereby increasing our fund value. Additional allocation starts at 1% for the first five years and then increases every five years to 3%, 5%, and 7% thereby increasing our wealth.
• Under this plan, fund value is distributed between the below 2 funds:
1) Equity Large Cap Fund
2) Bond Fund
• This strategy provides the flexibility to:
1) Switch the invested amount amongst the available funds using the switching option.
2) Redirect the future premiums to the newly chosen fund using the redirection option.
This product gives you tax benefits which results in extra savings.
If there is a default in the payment of premium, there will be no penalties or charges levied against the beneficiary. And the accumulated amount can be redeemed after a period of five years.

Additional Option:
Rising Star Benefit- For a parent like me, securing my children’s future is always on my mind when considering any investment plan. In Rising Star Benefit, the lump sum amount will be immediately paid to the family in the event of demise of the policy holder. All future premiums (if any) will immediately get invested into the fund allowing the corpus to grow faster thereby ensuring my child’s future is protected.

How is it Innovative?
Edelweiss Tokio Life takes care of one’s financial goals at various life stages, be it taking care of family’s future wealth, saving for retirement, family protection, or any other important milestone. It is the winner of the “Best Product Innovation” title by Fintelekt Insurance Awards 2017 and National Award for excellence in Insurance 2017.
There are loads of options available in the sea full of ULIPS. One gets confused which policy to choose from and thus turn to financial advisor for recommendations. People are way too apprehensive about the family’s future, thus start to make savings in every possible way so that the future is secure. Hence, when I came across this plan, I was rested assured about my investment and future.

For more information, please visit Edelweiss Tokio.

Note: Please read the offer document before investing.

TotalSecure+ – More Than Insurance

TotalSecure+ – More Than Insurance

by Samiksha Khapre

Hi Friends,

We are close to the end of Financial year and as to save Tax I usually consider PPF, NSC and insurance policy. This time, however for insurance policy I thought to do some kind of research work. Being a mother of two children, I wanted not just an insurance policy, but a policy which gives protection to me and is secured for my little ones. A plan that gives dual benefits.

I would like to share a couple of incidents which I experienced, one of my office colleague met with a road accident and I was so shivered by her sudden death as life is so unpredictable. We eat healthy food, exercise, have a safe lifestyle but you never know what’s in your destiny. Also, I was so worried for her child’s future. Seriously Insurance Policy can be so helpful and a God Saviour at this time.

One of my neighbouring uncle passed away due to Heart attack. He was the bread earner for the family. His wife had a hard time to pick up a job and give the necessary lifestyle to her kids. The kids who once used to have a pretty good lifestyle, go for outings suddenly had to sacrifice as the high income had stopped thus devastating the whole family. At that time, I decided to have an insurance policy beneficial for my kids to sustain the lifestyle which they now have.

Since I am in my Thirties, I have noticed the changes in my body which restrict me from my routine and make me realize that the stress can make me susceptible to various unforeseen illness which might create a hurdle in my life span. Had it been my neighbour was treated during a heart attack, he could have been with us.

Like I said in the beginning, any product which gives you multiple benefits are most welcomed today. There are people who have separate policy of insurance and medical coverage. But a policy which gives both the benefits is my requirement.

As I was researching Insurance policies, I got one of the Best term plans.

TotalSecure+ by Edelweiss Tokio Life was like a custom-made plan for my need.

It’s a perfect comprehensive protection plan which gives me the dual benefit of Life cover and Critical illness cover.

It gave me various options to choose from:

1: Designing the Plan-

Option 1: Life Cover.

Option 2: Life Cover with ‘Basic Health Cover’ – Covers 7 Critical Illnesses Benefit.

1. Cancer of specified severity (malignant tumor)

2. First Heart Attack – of Specified Severity

3. Surgery to aorta

4. Open Chest CABG

5. Kidney Failure Requiring Regular Dialysis

6. Major Organ/ Bone Marrow Transplant (as recipient)

7. Stroke resulting in permanent symptoms

Option 3: Life Cover with ‘Comprehensive Health Cover’ – Covers 35 Critical Illnesses.

This helps us to combat health issues. Who knows what your health might be in your 60’s. With our busy schedule, fast food has become a part of our life. Right food diets are very difficult to maintain this can give rise to many diseases. It is for us so that we do not have to rely on our children’s income for any critical illness.

2: Depending on the requirement:

Benefit Option 1: Base Sum Assured; or Benefit Options 2 and 3: Base Sum Assured and Critical Illness Sum Assured.

3: Choosing the Policy Term (duration of insurance coverage) and the Premium Payment Term (duration for which I need to pay the premiums) as per my need and convenience. I have the choice of paying throughout the Policy Term (Regular Pay) or for a shorter period (Limited Pay) or only once at the beginning of the Policy (Single Pay). The Policy Term is available till age 80 for Option 1 and till age 75 for Option 2 & 3.

4: Choose death benefit payment mode options as ‘Lump sum’ or ‘Regular Income’ or a Lump sum plus Regular Income. If I opt for regular income, I can decide the period for which my nominee would receive the benefits, i.e. over 3, 5, 10 or 15 years. I can also choose whether I want equal monthly payout or increasing monthly payouts.

Summing up the Benefits of Edelweiss Tokio Life – TotalSecure+

· Flexible premium paying term

· Accelerated critical illness benefit

· Tax benefits

· Regular death benefits payment mode

So with TotalSecure+ I have to pay minimal premium amount, but now I am relieved as there is cover for my Critical illness and my family is secured in case anything unfortunate happens to me.