Edelweiss Tokio Wealth Enhancement Ace
The Edelweiss Tokio Wealth Enhancement Ace is a non-participating unit linked life insurance plan designed to maximise returns. It offers sufficient life cover with flexible fund options and guaranteed loyalty additions that allow the fund to grow. The plan ensures that there is a steady growth and enhancement of wealth.
Features of Edelweiss Tokio Wealth Enhancement Ace
- Flexible Payment Options – Policyholders need to pay a single premium and can top up as per their needs to enjoy benefits throughout the policy term.
- Low Allocation Charges – The Edelweiss Tokio Wealth Enhancement Ace plan comes with low allocation charges.
- Flexible Fund Options – Policyholders have the option to choose from different fund options like Equity Large Cap Fund, Bond Fund, Money Market Fund, Managed Fund and Equity Top 250 Fund to find one which suits their needs.
- Loyalty Additions – Policyholders get guaranteed loyalty additions at specified periods that help their funds grow.
- Flexibility – Policyholders enjoy flexibility in terms of switching and increasing the sum assured.
Benefits of Edelweiss Tokio Wealth Enhancement Ace
- Free Look Period – Policyholders have a 15 day period from the date of receipt of policy to review it and decide whether they want to keep the policy or return it.
- Dual Benefits – Policyholders get dual benefits of wealth enhancement and risk protection when they opt for this plan.
- Partial Withdrawals – Policyholders have the option to access their investments through partial withdrawals in case of emergencies.
- Death Benefit – In the event of death of the policyholder his/her nominee gets the fund value or the sum assured or 105% of the total premiums paid, whichever is higher.
- Maturity Benefit – The policyholder gets the fund value on maturity which is payable at the end of the policy term.
- Surrender Benefit – If the policyholder decides to surrender the plan they are entitled to receive the fund value.
- Switching facility – Policyholders can move either their entire balance or a part of it from one fund to the other, depending on their needs.
- Settlement Options – Policyholders can opt to collect their maturity amount in instalments or keep the amount invested in existing funds.
- Change in Sum Assured – Policyholders can either increase or decrease the Sum Assured to suit their immediate surroundings and requirements.
- Policy Discontinuance – Policyholders can choose to discontinue their policy without any risk cover at any time they want during the first five policy years.
The following eligibility criteria need to be met to open an Edelweiss Tokio Wealth Enhancement Ace Plan.
- The minimum age to take this policy is 5 years and the maximum entry age is 65 years.
- The minimum maturity age is 18 years and the maximum maturity age is 75 years.
The Edelweiss Tokio Wealth Enhancement Ace Plan is suited to meet the requirements of life and ensures that death does not mean the end for any dependants. It opens up new doors and offers flexibility to suit individual needs. The plan ensures that the investment grows to become an asset in the future.
GST of 18% is applicable on life insurance effective from the 1st of July, 2017