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IN THIS POLICY, INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER
Get Additional Allocations1 Each Policy Year
Rising Star Benefit2 to Enhance Cover for Your Child
Easy Liquidity Through Partial Withdrawals
Top-Up Premium Option Available
Tax Benefits3 u/s 80C & 10(10D)
Term Insurance Calculator
Why Choose Edelweiss Life- Wealth Plus?
Additional Allocation¹- You get allocations equal to 1% of your annual premium at the end of each policy year. Allocations increase by 2% after every 5 policy years.
Withdrawals for Easy Liquidity- Easy access to your savings! You can make partial withdrawals from your fund value from 6ᵗʰ policy year.
Save More with Top-Up Premium Option- Pay additional premium over your regular amount to increase the value of your market-linked funds.
Invest Strategically to Increase Your Returns- Two fund management strategies to choose from. Choose Life Stage and Duration Strategy to mitigating risk as per your life stage. Or choose Self-Management Strategy to manage your own funds with unlimited fund switching.
Rising Star Benefit² - Your child’s future will never be compromised! Get additional cover for your child in your absence and waive off any future premiums while keeping policy intact.
Tax Benefits³ for Extra Savings- Unit-Linked Insurance Plans are subject to tax benefits under Section 80C and Section 10(10D) of the Income Tax Act.
Who Can Benefit from This Plan?
1. Those Looking for Life Cover with Returns: Secure your family while ensuring your wealth growth for the future. Choose Rising Star Benefit to provide additional security for your little one.
2. Those Looking for Diverse Market-Linked Funds: Choose equity-linked funds when you can take on more risk or shift your funds to safer debt funds that offer modest returns. Flexibility to switch as per your risk appetite!
3. Long-Term Wealth Growth- With a minimum policy term of 10 years, this plan allows you to grow your wealth for the next phase of your life.
Myths About Unit-Linked Insurance Plans
Myth 1: ULIPs are High-Risk
While ULIPs are market-linked, they are not necessarily high-risk products! If you are risk averse, then consider putting your premiums into debt or balanced funds. Wealth Plus allows you to invest into debt funds that are low risk while still offering moderate returns.
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Myth 2: ULIPs are Inflexible
ULIPs offer a range of diverse funds to choose from. This gives you the flexibility to pick and choose a fund that best suits your risk appetite and growth requirements.
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Myth 3: ULIPs are for Investors
ULIPs are, first and foremost, life insurance plans. The main objective of any ULIP is to secure your loved ones with life cover. However, unlike a normal term plan, ULIPs also provide returns if you survive until the end of your policy via market-linked funds.
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How to Buy Edelweiss Life- Wealth Plus Online?
4 Steps To Plus-sized Happiness!
Start Your Edelweiss Life Wealth Plus Journey!
- Choose your preferred premium amount
- Choose your policy term
- Choose your premium paying term
Choose Your Fund Strategy
- Choose between the Self-managed strategy or the Life Stage and Duration. The first option gives you the freedom and unlimited switches to make your own choices; the latter gives us the chance to do this for you.
Customize Away!
- Choose your optional benefits (Rising Star)
- Choose the period over which you get your payout (1,2,3,4 or 5 years)
- Choose the frequency of your payout (yearly, half-yearly, quarterly, monthly)
Sit Back and Relax!
- Submit the requested documents
- Let us verify your details and start your wealth accumulation journey!
What Makes Edelweiss Life Insurance Your Ideal Partner?
99.23% Claim Settlement Ration^4
Our Promise of Integrity- 99.23% Claim Settlement Ration^4 for FY 2024
Most Trusted BFSI Brand - 2023
Recognised among 'Most Trusted BFSI Brands 2023' by Marksmen Daily^³
What Makes Edelweiss Life Insurance Your Ideal Partner?
99.23% Claim Settlement Ration^4
Our Promise of Integrity- 99.23% Claim Settlement Ration^4 for FY 2024
Most Trusted BFSI Brand - 2023
Recognised among 'Most Trusted BFSI Brands 2023' by Marksmen Daily^³
Fire Away Queries
Like teachers say, there are no silly questions
What is a wealth accumulation / savings plan?
As an achiever, you would want to make the most of your achievements by enjoying a good lifestyle or planning for some big moments in your life. You may want an early retirement which can be enjoyed in grand style or it could be international education for your child. However, it is also important that we take necessary steps to take care of our family in all certain and uncertain events. Thus, it would be ideal to invest in a plan which takes care of financial security of your family and also helps you accumulate wealth.
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Why should I opt for Edelweiss Life – Wealth Plus?
Edelweiss Life – Wealth Plus offers to increase your fund value at the end of each policy year. You have the option to especially cater to your child’s future financial needs when you’re not around.
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What kind of goals will this plan help me achieve?
As this plan aids you in wealth accumulation while giving protection to your family and tax*¹ benefits, it gives you the freedom to pursue a number of goals. Some of the goals you can achieve include an early retirement which can be enjoyed in grand style or even an international education course for your child.
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Does this plan cover death due to COVID-19?
Yes, this plan covers death due to COVID-19.
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What are the premium paying frequencies available?
You can choose to pay your premiums on an annual, half-yearly, quarterly or monthly basis.
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What is the minimum and maximum policy term?
The minimum policy term is 10 years and the maximum policy term is 20 years.
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What is the minimum and maximum entry age?
The minimum entry age is 1 year and the maximum entry age is 55 years.
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What is the minimum and maximum maturity age?
The minimum maturity age is 18 years and the maximum maturity age is 70 years.
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What is the minimum and maximum top-up premium?
The minimum amount you can invest as top-up premiums is Rs. 5,000. The maximum amount cannot exceed the amount generated by combining all the base premiums paid till that date.
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What are Extra Allocations?
Extra Allocation is one of the additions we make to your plan. This benefit begins from your first policy year. From 1st to 5th policy year, 1% of the annualised premium is added to your fund value.
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What is Premium Booster?
Premium Booster is another benefit we offer to help you maximize your returns. Starting from the 6th policy year, they are added to your fund(s) at the end of each policy year. For instance, the Premium Booster from 6th to 10th policy year is 3% of the annualized premium, 11th to 15th policy year is 5% of the annualized premium, from 16th to 20th policy year is 7% of the annualized premium, and so on and so forth.
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What is Rising Star Benefit?
This optional benefit is designed to safeguard your child’s future in case of unfortunate circumstances. If the Rising Star Benefit has been chosen, an additional benefit will be applicable on your life in addition to the death benefit. On your demise, this additional benefit is applicable for the entire policy term irrespective of your child’s age.
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What will the child get from Rising Star Benefit?
On your demise, your child will receive the following benefits:
- A Lump Sum amount will be paid immediately
- An amount equal to the sum of all the future Modal Premiums (if any) shall be added to your Fund Value
- The future Extra Allocation and Premium Booster as and when due would be added to the Fund Value.
- The Policy will continue till maturity date or death of your child, whichever is earlier
- Life Cover of your child will continue.
- The Lumpsum Amount will be equal to Annualised Premium x applicable Annualised Premium multiple as mentioned below. This Annualised Premium multiple will depend on the entry age of the Policyholder.
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Are there unlimited free switches between funds?
If you have chosen Self-Managed Strategy, you can move money between the funds depending on your financial priorities and investment outlook. This facility is called switching and is available free of cost. Minimum amount per switch is Rs. 5,000. In case your current Investment Strategy is Life Stage & Duration Based Strategy, switching facility is not available.
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How many opt-in and opt-out options are there between the Investment Strategies?
There are unlimited opt-in and opt-out options during the policy term.
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What is Premium Redirection?
You can choose to allocate future premiums including top-up premiums in fund(s) different from those selected at policy inception or previous premium redirection request. This facility is called premium redirection, which is unlimited and free of cost. This option is available only with self -managed strategy.
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What are Partial Withdrawals and how are they beneficial?
Partial Withdrawal is a benefit offered with this plan. It allows you to withdraw a part of the Fund Value as per liquidity requirements at any time after the completion of the fifth policy anniversary. These are subject to terms & conditions.
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What are Top-up Premiums?
It is a benefit offered to invest surplus money as a premium over and above the existing premium amount.
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What is Surrender benefit?
At any time during the policy term, you can choose to surrender the policy by submitting a written request to us.
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Is there any exclusion to this plan?
In case of your death due to suicide within 12 months from the Policy Commencement Date or from the date of Revival of the Policy, the nominee or beneficiary shall be entitled to the Fund Value as available.
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What is the free look period of this policy?
You have a freelook period of 30 days from the date of the receipt of the policy document for the policy issued after 1st April, 2024 and processing TAT for same is 7 days.
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Do I get any Grace period to pay my premium?
Do I get any Grace period to pay my premium?
Grace Period of 30 days is available for annual, semi-annual and quarterly premium payment frequency and 15 days for monthly premium payment frequency.
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Generic ULIP FAQs
What is a ULIP?
A Unit-Linked Insurance Plan (ULIP) is a plan that combines the benefits of life insurance with market-linked investments. In a ULIP, your premiums are invested into various market-linked funds while also paying for your life cover. Your ULIP returns will depend on the market growth rate.
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How to Surrender a ULIP Policy?
To surrender a ULIP policy, you need to contact your insurance company and ask them for a surrender form. Fill out the surrender form and submit to the insurance company. Doing so will terminate your policy and you will get the ULIP surrender value.
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How to Calculate the Surrender Value of a ULIP Policy?
It can be difficult to calculate the exact surrender value of your ULIP, as the fund value of your ULIP is non-guaranteed and subject to change based on market conditions. The best way to determine your ULIP surrender value is to check your policy document. Generally, your policy document will give you a detailed breakdown of how your surrender value will be calculated. You can also contact your insurance provider and ask them what your current surrender value is.
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What is the Difference Between ULIP and Endowment Plans?
While both ULIPs and endowment plans offer returns, there are a few major differences between the two. ULIPs are market-linked, meaning that your returns depend on the performance of your market funds. Better the market performance, better will be your returns.
On the other hand, endowment plans are not market-linked. Endowment plans can either be guaranteed or participating plans. In a guaranteed plan, your returns are 100% assured and you will know exactly how much money you will get back at maturity. Participating plan are non-guaranteed, and your returns are dependent on the financial performance of the insurance company itself. If your insurer's profits are high, then the returns you get will also be higher.
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What is the Lock-In Period for ULIP?
Lock-in period is the time during which you cannot withdraw any money from your ULIP funds. Most ULIPs in India have a lock-in period of 5 years.
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What is Absolute Return in ULIPs?
Absolute return is a measurement of how well your ULIP funds are performing. Using the absolute return formula, you can judge whether your ULIP investments are profitable or not. Below is the formula for calculating your ULIP absolute Return:
[(Current NAV - Initial NAV) ÷ Initial NAV]X100
So, if your current NAV is 100 and your initial NAV was 50, your absolute return will be:
[(100-50) ÷ 50]X100 = 100%
Meaning that your ULIP funds' absolute return is 100%
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What are Allocation Charges in ULIPs?
ULIPs are an insurance plans with an investment element, and hence they have some additional charges that you need to be aware of. Allocation charge is the percentage of money deducted from your ULIP premiums to allocate your units into market-linked funds.
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What is a ULIP Fund?
ULIPs only allow you to invest your money into specific funds that are linked to the insurance company. ULIPs offer three types of funds, equity funds (high-risk, high returns), debt funds (low-risk, modest returns), and balanced funds (medium risk, medium returns).
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For queries, write to [email protected]
Contact us on 022 6611 6029
1- These allocations start with Extra Allocation at 1% for first 5 years. From 6th year onward you receive premium booster starting at 3% and increasing to 5% and 7% every 5 years. Allocation will be made only if premium is paid within the grace period.
2- The Policyholder/Proposer under this benefit can be a Parent / Grand-parent / guardian or any person who has an insurable interest with the insured child. If Rising Star Benefit has been chosen, an additional benefit will be applicable on the life of the Policyholder in addition to the death benefit applicable on the life of the Life Insured.
3- As per provisions of Income Tax Act, 1961. Tax benefits are subject to changes in tax laws.
^⁴ Claim statistics are for Financial Year 2023-24 and is computed basis individual claims settled over total individual claims for the financial year. For details, refer to Public Disclosures in our Website
^³ - Listed as one of the Most Trusted BFSI Brands 2023 by Marksmen Daily. The survey conducted by LeadCap Ventures for Marksmen Daily appraised the brands based on parameters like quality & consistency, uniqueness, value delivered, Brand affinity, innovation, affluence and more. Source: https://marksmendaily.com/2023/06/24/building-trust-in-a-changing-world-order/
The Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender/withdraw the monies invested in Linked Insurance Products completely or partially till the end of the fifth year.
IN UNIT LINKED INSURANCE PLAN (ULIP), INVESTMENT RISK IN THE INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER. Unit Linked Life Insurance products are different from the traditional insurance products and are subject to the risk factors. Edelweiss Life Insurance Company Limited is only the name of the Insurance Company and Edelweiss Life – Wealth Plus is only the name of A Unit Linked, Non-Participating, Individual, Life Insurance Product and does not in any way indicate the quality of the contract, its future prospects, or returns. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns. Please know the associated risks and the applicable charges from your Personal Financial Advisor or the Intermediary or policy document of the Insurer. The premium paid in unit linked life insurance policies are subject to investment risk associated with capital markets and the unit price of the units may go up or down based on the performance of investment fund and factors influencing the capital market and the policyholder is responsible for his/her decisions. Tax benefits are subject to changes in the tax laws. For more details on risk factors, terms and conditions please read sales brochure carefully before concluding a sale.
Edelweiss Life Insurance Company Limited (formerly known as ‘Edelweiss Tokio Life Insurance Company Limited’).
Flower & Edelweiss (as displayed above) are trademarks of Edelweiss Financial Services Limited used by Edelweiss Life Insurance Company Limited under license.
IRDAI Reg. No.: 147 | CIN: U66010MH2009PLC197336 | UIN: 147L055V04 | ARN: LP/3963/Oct/2024
Registered & Corporate Office: 6th Floor, Tower 3, Wing ‘B’, Kohinoor City, Kirol Road, Kurla (W), Mumbai 400070.
Toll Free No.: 1800 212 1212 | www.edelweisslife.in
BEWARE OF SPURIOUS PHONE CALLS AND FICTIOUS/FRAUDULENT OFFERS IRDAI or its officials do not involve in activities like selling insurance policies, announcing bonus or investment of premiums. Public receiving such phone calls are requested to lodge a police complaint. |