Edelweiss Tokio Life Wealth Plus

What is Edelweiss Tokio Life Wealth Plus?

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.

Features of Edelweiss Tokio Life Wealth Plus

• 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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Eligibility Criteria for the Edelweiss Tokio Life Wealth Plus

Investment

Secure

Secure your child’s future with or without you

Start Investing

₹10,000/Month

& Get

₹1 Crore^*

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*Standard T & C Apply

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Benefits of the Edelweiss Tokio Life Wealth Plus

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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Policy Details of the Edelweiss Tokio Life Wealth Plus

1. Policy Loan

   This plan does not offer a policy loan facility.

2. Free Look Period

   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

3. Grace Period

   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.

4. Foreclosure

   If the fund value becomes zero after five (5) policy years, the policy will be terminated (foreclosed).

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Exclusions Under the Edelweiss Tokio Life Wealth Plus

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.