Be Wise While Choosing Your Insurance Plan


Lately I have been talking about life insurance and mutual fund investments on my blog, my endeavour is to keep updating on the latest and most prominent information possible in the space of finance, investment and Insurance  to my knowledge of understanding, the purpose is to guide you accordingly to invest wisely or choose an Insurance plan.

Few days ago, I was discussing with my friends on life insurance rates and plans which are more than just conventional Life Insurance plan that could take care of investment as well with a decent return, while discussing one of my friend spoke about Edelweiss  Tokio  Insurance plans which are very beneficial when it comes to a combination of multifaceted Insurance cum Investment plan with added benefits.

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After knowing about the summary from my friend, I did a bit of research, here are the details of the Plan offered by –  Edelweiss Tokio Life, basically there are 3 Plans, which I shall be talking about :

  1. Wealth Ultima – ULIP (Unit Link Insurance Plan)
  2. GCAP (Guaranteed Return Plan)
  3. TotalSecure + (Comprehensive protection plan)

1 ) Wealth Ultima – ULIP (Unit Link Insurance Plan)

Firstly let’s talk about Wealth Ultima, This plan has 3 benefits a trio you can say, which are :

1.  SMP – Wealth accumulation

  • You can avail the option of paying your premium systematically on monthly basis, which allows you to safeguard from market fluctuations.
  • Tax Free Investment

2. STP – Wealth Preservation

In this there are few options available according to your appetite of risk:

  • Life Stage & duration based STP
  • Profit target based STP
  • Self Managed options are also available

3. Wealth Utilization :

  • Once the policy has completed 10 years , the policy holder can avail options to choose from like lumpsum amount or a set monthly installments -according to the years fixed, working as a pension plan after retirement.
  • Works as second income
  • The amount withdrawal would be Tax Free (so that’s again an added benefit)

A) Some other added benefits of this Wealth Ultima are:

  • Additions to the fund:
    • Loyalty Additions
    • Guaranteed Additions
    • Booster Additions
  • Little Champ Benefit:
    • In case of payer’s death, PV of future premiums will be funded by the Company.
    • Remaining benefits will continue as is
  • You can also change your preference of increasing or decreasing of PPT (Premium Paying Term)

2) GCAP (Guaranteed Return Plan)

The GCAP Plan insures that you get sure static return irrespective of the market behaviour, sounds tempting isn’t it.  This is a break though Plan by – Edelweiss Tokio, which is quite beneficial for people who want static return and do want to any risk involve in their investment.

Depending upon the no of years for which the plan are selected like 10, 20 or 30 years, the returns are subject to change accordingly marginally.

Listing few other rider  benefits which can be added with this plan:

  • Cover against accidents at small amounts of extra premium
  • Policy continues while eliminating the burden of premium payment in case of death, disease or disability
  • Provides income replacement to the family in your absence
  • Provides income replacement to family in incidence of critical illness

Optional with this GCAP Plan, which you can choose:

  • PWB (Payer waiver Benefit) which allows to help your child’s future, so even in your absence your child continues to enjoy the policy’s benefit without worrying about paying premium.

3) Total Secure+

TotalSecure+ is a comprehensive protection plan – Which means this is a Life Insurance with added features of choosing between Basic health cover (which covers 7 Critical Illness) and Comprehensive health cover (which covers 35 Critical Illness) so it works as a combo.

For instance if you take a life cover of 2 crores, you can choose – a Critical Illness plan of up to 1 Cr and avail the benefits.

The Premium amount will vary according to the Basic Health Cover and Comprehensive Health Cover plans.

TotalSecure+ gives you the facility to choose how to receive your benefits by providing 3 options:

LUMSUM: Takes care of immediate requirements

Monthly: Acts as income replacement by taking care of monthly expense

Combo: Takes care of immediate requirements as well as monthly

Under monthly mode, customer has option to receive monthly income for:
– 36 months – 60 months – 120 months – 180 months
Further, monthly income can be:
• Level (same monthly income for chosen period), or
• Increasing (@5% per annum compounding)

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