Accumulating and saving wealth is not an easy task considering there are so many expenses, but it is imperative that customers make prudent choices when it comes to finances. This is especially required in cases of significant events which require a lot of money such as their child’s education or wedding or even for their own golden years. Saving money is necessary and it is important to do this in a way that is beneficial. Life Insurance policies are one of the best ways to utilize money as these policies help create a corpus that can be used in the future and can also provides financial support to the nominee in case of untimely demise of the insured.
Edelweiss Tokio Life Insurance provides a number of unique life insurance policies that are provide a whole host of benefits and features. The Wealth Accumulation plan with an Accelerated Cover provides the benefit of investment as well as risk protection. Customers also have the option of switching between different fund options.
Eligibility Conditions for Edelweiss Tokio Life - Wealth Accumulation (Accelerated Cover)
|Age of Entry (in years)||5 to 65|
|Age of Maturity (in years)||18 to 75|
|Basic Premium||If paid yearly, minimum Rs. 25,000. If paid half-yearly, minimum Rs. 18,000. If paid quarterly, minimum Rs. 9000 If paid monthly, minimum Rs. 3500 For top-ups, minimum Rs. 5000 No limit for maximum premium|
|Minimum Basic Sum Assured where AP refers to annualized premium||For age of entry below 45 - AP*Higher of(10,0.5*PT) For age of entry 45 years and over - AP*Higher of(7,0.25*PT) Top-up - For age of entry below 45 - Top-up premium * 1.25 For age of entry 45 and above - Top-up premium * 1.10|
|Maximum Basic Sum Assured||Regular and Limited Pay - For age of entry below 45 - AP*25 For age of entry 45 and over - AP*20 Top-up : Top-up premium*5|
Key Features of Edelweiss Tokio Life - Wealth Accumulation (Accelerated Cover)
|Plan Type||Unit linked insurance plan|
|Maturity Benefits||Fund value|
|Policy Tenure (PT)||10 years, 15 years, 20 years, 25 years and 30 years|
|Premium Payment Tenure||Regular premium is same as policy term Limited premium - 5 years, 7 years, 10 years|
|Premium Payment Frequency||Monthly, Quarterly, Half-yearly, Yearly|
|Fund Options||Equity Large Cap Fund, Equity Top 250 Fund, Bond Fund, Money Market Fund, Managed Fund, Price Earning Based Fund|
|Grace Period for non-forfeiture provisions||30 days for annual, Semi-Annual and Quarterly premium mode and 15 days for monthly premium mode.|
|Partial Withdrawal Facility||Available for a minimum amount of Rs. 5000 for every withdrawal.|
|Switching Facility||Available for a minimum amount of Rs. 5000|
Benefits of Edelweiss Tokio Life - Wealth Accumulation (Accelerated Cover)
Edelweiss Tokio Life - Wealth Accumulation plan comes with a number of benefits. Some of the popular benefits include -
- In case policyholder survives until maturity, the fund value will be provided as maturity benefit.
- On surrender of policy, the fund value will be provided.
- In case of untimely demise of the insured during the policy tenure, then a higher of either fund value including the top-up fund value or assured sum including the top up assured sum or 105 percent of total premiums paid including top-ups that have been paid until death will be given to the nominee of the insured.
- Assured additions are provided for a policy that is in force after a specified amount of time.
Edelweiss Tokio Life - Wealth Accumulation Riders
Not available for this policy.
GST of 18% is applicable on life insurance effective from the 1st of July, 2017