As per the draft proposed by IRDA, Insurers can allot ‘Orphan life insurance policies’ & ‘A lapsed life insurance policy’ to other Insurance agents (Allottee Agent) who have worked with the Insurers for 5 years or more.

What is Orphan Life Insurance Policy

‘Orphan life insurance policies’ for the purpose of these Guidelines, means the policies initially effected by an insurance agent whose services were subsequently terminated or removed from the rolls of the insurer excluding those policies to which the effecting agent is entitled to renewal commission under provisions of Section 44 of the Insurance Act. The policies that are considered eligible under proviso to section 40(2A) of Insurance Act also do not fall under the purview of this definition.

Lapsed Life Insurance Policy

‘A lapsed life insurance policy’ for the purpose of these guidelines is a policy on which premium that is due and remained unpaid even after six months from the date of first unpaid premium.

Who is an Allottee Agent

‘Allottee Agent’ for the purpose of these guidelines is an individual insurance agent who is on the rolls of the life insurance company to whom the orphan, lapsed life insurance policies are allotted for the purpose of conservation and rendering the policy services.

Insurance Act Section 40(2A) and Section 44

The Insurance Act has two specific provisions, namely Section 40(2A) and Section 44 which protect the long term interests of agents.

In brief, under provisions of Section 40(2A), lapsed policies which require medical examination prior to revival can be assigned to another agent after giving due notice to the existing agent to revive such policies. In such cases, new agent is entitled to commission of only 50% of what the procuring agent would have been entitled had the policy continued to be in force.

Under Section 44, except on grounds of fraud, an agent who has served an insurance company for a period of 5 years shall be entitled, subject to certain conditions, to renewal commission on such policies if he discontinues his agency. However, agents who have completed 10 years of service with a given insurance company and stops for any reason his/her agency business but does not join another company are entitled to renewal commission on all such policies which they had placed. The commission on policies covered under Section 44 is inheritable and entitled to be passed on to the legal heirs of that agent.

Benefit to the Allottee Agent

As the Allottee agent would none other than you, who has been assigned the policy for follow up with the policy holder. This way, you get new clients and commission.

• Equivalent to the commission rates mentioned in the respective File & Use
• The remuneration payable only on revival of a lapsed orphan policy on account of arrears premiums received on or after the date of allotment and also on subsequent renewal premiums paid under the policy.
• single Premium Life Insurance policies or life insurance policies on which no further premiums are due for payment are not eligible for allotment.

Life Insurance agents look out for this, and check with your development officer. IRDA has requested for feedback from the insurers by 31-March-2012.

Good Luck to All our Life Insurance agents…

Note: When a lapsed policy allotted is not revived / reinstated within 3 months from the date of such allotment, life insurers shall have the discretion to undo the allotment by issuing a formal notice to the Allottee agent and re-allot to any other agent as per the norms prescribed herein.

source:irda
 

Edelweiss Tokio Life has got 6 different insurance riders which can be added with any Life Insurance policy. The riders can be availed for a very small additional premium value. Adding riders is really a great choice. No-Body knows when life is going to make a twist. Buying Life Insurance protects a person, but adding a rider would give double to triple protection. To put it more in simple words, it is WISE to buy a Life Insurance Policy, but it is WISER to have a rider to Life Insurance Policy that you buy.

With so much said, let us see the different riders available from Edelweiss Tokio Life.

1. Edelweiss Tokio Life – Waiver of Premium Rider
2. Edelweiss Tokio Life – Accidental Death Benefit Rider
3. Edelweiss Tokio Life – Accidental Total and Permanent Disability Rider
4. Edelweiss Tokio Life – Term Rider
5. Edelweiss Tokio Life – Critical Illness Rider
6. Edelweiss Tokio Life – Hospital Cash Benefit Rider

Let us understand each of them in details as below.

Edelweiss Tokio Life – Waiver of Premium Rider

This rider protects benefits in case of critical illness or accidental total and permanent disability. In case the policyholder

• Meets with an accident and becomes totally and permanently disabled
• Gets diagnosed with a critical illness

The company waives off all premiums and pays it on the policyholder’s behalf. The policyholder continues to enjoy the plan benefits and realize his future financial goals, as per his or her original plans.

The  Product Fits below Life Insurance plans:

• Edelweiss Tokio Life – Education
• Edelweiss Tokio Life – Wealth Accumulation (Accelerated Cover)
• Edelweiss Tokio Life – Wealth Accumulation (Cover Plus)
• Edelweiss Tokio Life – Wealth Accumulation (Comprehensive Cover)
• Edelweiss Tokio Life – Protection, Edelweiss Tokio Life – Income Replacement

Edelweiss Tokio Life – Accidental Death Benefit Rider

This rider provides for additional financial security in case of unfortunate event of accidental death. The company pays 100% of the rider sum assured as a lump sum in event of accidental death.

The product Fits below Life Insurance Plans:

• Edelweiss Tokio Life – Education
• Edelweiss Tokio Life – Wealth Accumulation (Accelerated Cover)
• Edelweiss Tokio Life – Wealth Accumulation (Cover Plus)
• Edelweiss Tokio Life – Wealth Accumulation (Comprehensive Cover)
• Edelweiss Tokio Life – Protection, Edelweiss Tokio Life – Income Replacement

The Premium Rates are Rs. 0.5 per 1000 Sum Assured.

Edelweiss Tokio Life – Accidental Total and Permanent Disability Rider

This rider helps you provide for a support system and live with financial independence in case of unfortunate event of an accident resulting in total and permanent disability. The company pays 100% of the rider sum assured as a lump sum If the Life Assured gets totally and permanently disabled due to an accident.

The Product Fit below type of Life Insurance plans:

• Edelweiss Tokio Life – Education
• Edelweiss Tokio Life – Wealth Accumulation (Accelerated Cover)
• Edelweiss Tokio Life – Wealth Accumulation (Cover Plus)
• Edelweiss Tokio Life – Wealth Accumulation (Comprehensive Cover)
• Edelweiss Tokio Life – Protection, Edelweiss Tokio Life – Income Replacement

The Premium Rates are Rs. 0.4 per 1000 Sum Assured.

Edelweiss Tokio Life – Term Rider

This is a special rider to enhance your life cover in addition to the base plan cover to provide increased security to your family. The company pays 100% of the rider sum assured as a lump sum if the Life Assured dies.

The Life Insurance Product that can avail the riders are :

• Edelweiss Tokio Life – Education
• Edelweiss Tokio Life – Wealth Accumulation (Accelerated Cover)
• Edelweiss Tokio Life – Wealth Accumulation (Cover Plus)
• Edelweiss Tokio Life – Wealth Accumulation (Comprehensive Cover)

Edelweiss Tokio Life – Critical Illness Rider

This rider provides for financial security in case of critical illness.  The company pays 100% of the rider sum assured as a lump sum in event of critical illness of the policyholder.

Life Insurance Product avail the riders are :

• Edelweiss Tokio Life-Education
• Edelweiss Tokio Life-Wealth Accumulation (Accelerated Cover)
• Edelweiss Tokio Life-Wealth Accumulation (Cover Plus)
• Edelweiss Tokio Life-Wealth Accumulation (Comprehensive Cover)
• Edelweiss Tokio Life-Protection*(for regular pay only)

Edelweiss Tokio Life – Hospital Cash Benefit Rider

This rider provides for financial stability coverage in case of hospitalization of policyholder. The benefits to policy holder are:

• Daily recuperation benefit of 1% of sum assured
• Additional benefit of 1% of sum assured for each day of stay in ICU
• Recuperating benefit of 4% of sum assured as lump sum in case of extended hospitalization

To avail the riders, you need to have the below Life Insurance products:

• Edelweiss Tokio Life-Wealth Accumulation (Accelerated Cover)
• Edelweiss Tokio Life-Wealth Accumulation (Cover Plus)
• Edelweiss Tokio Life-Wealth Accumulation (Comprehensive Cover)

Details about these riders can also be found by your insurance agent, who will guide when taking the policy.

Request to every Life Insurance policy holder, if you buy Life Insurance, PLEASE plan to take the benefit of the riders which can give better returns in your protection.

What is Met Bhavishya?
Met Bhavishya is a Guaranteed child money-back plan that pays out funds to meet education and career milestones of your children. With this plan, the life insured is the parent. The plan has built-in guaranteed additions to add value to the policy over its term.

To put it simply, with Met Bhavishya, you can plan your child’s future as best as you can.

What are your Guarantees with Met Bhavishya?

Guarantee 1: Guaranteed interim payout at critical milestones of your child’s life
Guarantee 2: Guarantee of policy continuance even in the event of the demise of the parent
Guarantee 3: Total guaranteed payout of upto 250%* of the chosen sum assured during the term

What is the term of the policy?
You have two policy terms to choose from, depending upon the age of your child.

Option A: 21 minus age at entry of the named child.
Option B: 25 minus age at entry of the named child.

Are you eligible for Met Bhavishya?
Option A (LBD*) Option B (LBD*)
Minimum entry age of the named child 0 years 0 years
Maximum entry age of the named child 8 years 12 years
Minimum entry age of parent 20 years 20 years
Maximum entry age of parent 50 years 50 years

What are guaranteed additions?
The policy holder will be entitled to guaranteed periodic additions of Rs.50/- per Rs.1,000/- of the face amount for every completed year. What’s more, a guaranteed Terminal addition would be payable if the policy is in force till the end of the policy term. The Terminal additions will be at 20% of the total guaranteed periodic additions.

Guaranteed Fixed term benefits
Receive money-back payouts as per the schedule.

Option A
Age of child Percentage of payout Assumed milestone
15 years 20% Class X
17 years 30% Class XII
20 years 50% College
21 years Guaranteed additions Higher education

Option B
Age of child Percentage of payout Assumed milestone
17 years 20% Class XII
21 years 30% Completes graduation
23 years 50% Higher education
25 years Guaranteed additions Wedding

What is the maturity benefit?
On maturity of the policy, guaranteed additions as explained above would be payable.

What is the death benefit?

Of the life assured

In the unfortunate event of the death of the life assured, the family will receive the entire face amount. The fixed term payment and maturity benefits will continue irrespective of the death of the life insured and all future premiums on the policy would be waived.

Of named child

On the death of the named child, the life insured may -
1. Keep the policy in force by the payment of the premium on the dates and may nominate any other individual whom he / she has insurable interest. The terms of the policy and due dates of the periodical and maturity benefits will remain the same.
Or
2. Surrender the policy and receive the guaranteed surrender value as specified in the policy document.
Or
3. Opt to discontinue payment of further premium and keep the policy in force as reduced paid-up value.

Riders for the plan
A rider is an optional contract that allows you to enjoy additional benefits. It is always attached to the base policy at the time of purchase. It annot be bought separately or independently.

For a very nominal additional premium, you can choose from the following riders. These can be taken at the time of taking the plan to customize the policy for added benefits.

Accidental Death Benefit (ADB): Provides for the payment of an additional amount should death occur as a result of an accident by outward violent and visible means before age 60 years.

Waiver of Premium (WoP): In case of total and permanent disability of the life assured due to accident by outward, violent or visible means, this rider allows premium on base policy and attached riders, if any, to be waived.

Critical Illness: This rider provides payment of an additional amount on diagnosis of any of the 10 critical conditions pecified. You can have the money to pay for the illness when you need it, thus helping you protect yourself against any health or lifestyle risk.

Term Rider: The term rider allows the payment of an additional amount should death of the life insured occur before 60 years. You can match your changing needs (risk protection) and buy additional insurance at a low cost.

Illustration:
Raghu, aged 30, wants to plan for education funds for his 2 year old daughter, Mansi. He chooses Met Bhavishya option B. Now his policy period is 23 years, which means it matures when Mansi is 25. For a face amount of Rs.5,00,000, the annual premium is Rs.29,420. He will receive funds as per the schedule below.

17 years: Rs.1,00,000 (Coaching classes for Class XII)
21 years: Rs.1,50,000 (College)
23 years: Rs.2,50,000 (Higher education)
25 years: Rs.6,90,000 (Wedding) – Guaranteed maturity benefit

The death benefit throughout the term of the policy is Rs.5,00,000. In the unfortunate case of Raghu’s death during the term of the policy, the death benefit will be paid to Mansi along with all the guaranteed payments as per the schedule above. Thus Raghu can rest, knowing for sure that Mansi’s education is provided for, no matter what.

This is the second Child Savings Plan added in MetLife’s portfolio, after Met Bhavishya

MetLife India Insurance (MetLife), has announced the launch of its new unit linked child plan – “Met Smart Child”. This plan offers complete solution for child’s higher education, even in the absence of parents. The life insured is the parent or grandparent and the beneficiary is the child/grandchild. This is the second Child Savings Plan added in MetLife’s portfolio, after Met Bhavishya.

The unique feature of Met Smart Child is that the fund is locked in for the benefit of the child till the child turns 18. This will ensure that the fund never gets misused and is solely used for the child’s benefit.

Met Smart Child offers a differentiated death benefit. In case of the unfortunate demise of the parent, the sum assured under the product is paid immediately to the beneficiary and all the future premiums which would have been otherwise paid by the parent are paid by MetLife into the fund.

These future premiums are paid into the Balancer fund, which offers the twin benefits of potential equity based upsides as well the steady performance of the debt markets.

The plan is available in three terms of 10, 15 and 20 years with a minimum premium of Rs. 18,000. The amount cover is equal to 10 times of the chosen premium and remains constant throughout the term of the Policy. The plan comes with 6 unit linked funds for customers with varying risk appetite to choose from.

It provides customers with an option of unlimited switches between the available funds to take care of the changing risk appetite of the customers. Systematic Transfer Option under this plan allows the customer to hedge against the near term market volatilities and built corpus for long term systematically.

Policies with 15 and 20 year term have a loyalty additions benefit of 2% and 3% respectively. These loyalty additions will be paid even on demise of the parent.

The fund will charge 7% in the first year, 6 per cent in the second year and from third year onwards a charge of 5% will be levied on the premiums before investing. The administration charges will be Rs 10 per month between first to fifth year and from sixth year onwards the administration charges become Rs 35 per month. The fund management charges will range from 1.10 % – 1.25% and the mortality charges will be calculated on the basis of the attained age of the parent.

Met Smart Child plan can be easily bought by just filling an application form. Ease of buying feature has been designed especially keeping in mind the fast pace of life.

In case of your sudden demise, child’s future is secured by the death benefit payable under the Policy. The death benefit which is at least 100% of Sum Assured is paid immediately to your child and the policy continues to work towards providing or higher education expenses, with an amount equal to monthly premiums (for corresponding annualized premium chosen at inception), as a part of Premium Waiver Benefit (PWB), being paid by MetLife into the Policy on every monthly Policy Anniversary irrespective of the Premium payment mode chosen by you. You can be a Parent or grandparent to opt for this Policy with beneficiary being the child or grandchild respectively.

Met Smart Child at a Glance

Minimum/Maximum Age at entry (LBD)* for Life Insured 18/55 Years
Minimum /Maximum Age at entry (LBD)* for beneficiary 90 days/17 years
Premium Payment term (years) Same as policy Term
Minimum Annualised Premium Rs. 18,000 p.a.
Maximum Annualised Premium Till age 35 : 2 lakh
36-45 age : 1.25 lakhs
Age 46+ : 1 lakh
Policy Term 10, 15 & 20 years
Sum Assured 10 times the chosen Annualised Premium only
Premium Payment modes Annual, Semi Annual, Quarterly, monthly
and PSP (Payroll Savings Program)

Systematic Transfer Option:

In case you wish to make the most of market volatility, you may choose Systematic Transfer Option which allows you to take the advantage of rises and falls in the market and allows you to get the benefit of rupee cost averaging.

How does Systematic Transfer Option work for you?

You should be paying premiums in an annual mode to avail this option
You may choose Systematic Transfer option either at Policy Inception or during the term of the Policy
In case this option is chosen at policy inception, the premium allocation percentage in Protector II Fund should be at least 50% of the Annualized Premiums paid. If the option is chosen during the term of the Policy, then Protector II Fund should at least have 50% of Total Fund Value.
Your Fund will be automatically transferred from Protector II Fund to Flexi Cap Fund at the end of every month in the following manner

Month1 1/12 of the units available at the end of Month1
Month2 1/11 of the units available at the end of Month2
Month5 1/8 of the units available at the end of Month5
Month11 1/2 of the units available at the end of Month11
Month12 Balance Units available at the end of the Month12

Other conditions on Systematic Transfer Option:
Systematic transfer plan if chosen during the term of the Policy will be activated only by the next policy anniversary.

The request for opting in and out of systematic transfer plan has to be given at least 30 days before the next monthly policy anniversary

This facility will be deactivated in case the policy moves to discontinuance fund status.

No switches will be allowed in and outside of Protector II Fund and Flexi Cap Fund funds during this strategy is active.

This will not be available with Auto rebalancing option.

In case premium payment mode from Annual to any other mode is changed, this option will be deactivated.

Kotak Life Insurance has launched a new investment oriented Unit Linked Insurance Plan (ULIP). There is no Premium Allocation charge. Limited to only 2 portfolios, which gives less headache for any individual to manage and get confused with the options available.

Apart from that, you get 2% of the fund value as additional bonus from the 10th year. But this is not every year from there after, but every 5th year after the 10 year.

The premium paying options are regular as well as Single premium is allowed. There is option for riders to enhance your life insurance policy to safe-guard your interests.

Kotak Invest Maxima offers you two portfolio strategies to choose from:

1. Self Managed Portfolio Strategy
2. Systematic Switching Strategy

Kotak Invest Maxima allows you to opt for additional rider benefits with regular and limited premium payment options. The plan offers following rider benefits to help you customize the level of protection:

• Kotak Accidental Death Benefit (ADB) : Lump sum Benefit paid on accidental death

• Kotak Permanent Disability Benefit (PDB): Installments paid on being totally and permanently disabled as a result of an accident.

The first fifteen switches (including the 12 automatic fund switches, if Systematic Switching Strategy is chosen) in a policy year are free. For every additional switch thereafter, Rs. 500 will be charged.

Illustration:
Sujay is a 35-year-old professional who lives with his wife and children. He holds a respected position in one of the leading pharma companies, with a steady stream of income. He wants to invest his money with the objective of maximizing its investment potential. He is keen to invest in equity but is unable to put in the time required for managing the investment. Kotak Invest Maxima provides the perfect solution for him as it gives him the option to invest in funds of his choice and at the same time he enjoy adequate protection. Given below is an illustration of the benefits payable to Sujay for an Annual premium of 1,00,000, policy term of 20 yrs and a Sum Assured of 10,00,000:

How to Maximize your investment in 4 easy steps

Now that you are aware of the Kotak Invest Maxima features and benefits, just follow the below mentioned easy steps and get the maximum out of your investments:

Step 1: Choose to pay your premiums under Regular Payment mode or Limited Payment for 5 yrs or a one-time lump sum as a Single Premium;

Step 2: Choose the term for which you wish to invest and the corresponding premium.

Step 3: Choose your life insurance cover – the Sum Assured, depending on your existing insurance cover and needs. Choose the optional rider benefits to boost the protective element of your plan.

Step 4: Invest your premium in all or any of the 5 available investment funds OR opt for the unique ‘Systematic Switching Strategy’.

A single premium insurance plan “Guaranteed Maturity Insurance Plan” from Bajaj Allianz is the cheapest Life Insurance plan related to Premiums. You start with Rs 5000.00, and in multiples of Rs 5000.00. This Single Premium ULIP plan is more to target the Rural and low income people.

Benefits of the plan are:

1. Secure your investments with guarantee of two times the amount invested as maturity value.
2. No premium allocation charge
3. Option to buy multiple ‘Guaranteed Maturity Certificates’.
4. Flexibility to partially withdraw units after 5 years

Bajaj Allianz Guaranteed Maturity Insurance Plan is a simple to understand single premium unit-linked life insurance plan. The plan offers you to buy “Guaranteed Maturity Certificates” of single premium of Rs. 5,000 each. You have a choice to buy any number of “Guaranteed Maturity Certificates” under a single policy.

Single Premium paid by you under each of the “Guaranteed Maturity Certificates” is invested in the Guaranteed Bond Fund and units are allocated to your policy account at the prevailing unit price of the fund. The value of your policy is the total value of units across all “Guaranteed Maturity Certificates” that you hold in the fund.

Bajaj Allianz Guaranteed Maturity Insurance Plan provides you only one fund option, the Guaranteed Bond Fund. The investment objective of this fund is as follows: Guaranteed Bond Fund

Plan Parameters:

Maturity Benefit will be higher of the Guaranteed Maturity Value of all the “Guaranteed Maturity Certificates” held as on maturity date or the fund value, as on the maturity date. The Guaranteed Maturity Value is equal to 2 times of the single premium paid under all the maturing Guaranteed Maturity Certificate(s).

Premium Paid are eligible for tax benefits under section 80C and maturity benefit , death benefit, and surrender value are eligible for Tax benefits under Section 10(10)D of the Income Tax Act subject to the
provision stated therein.

IDBI FEDERAL Lifesurance Savings Insurance Plan – a fixed-term participating endowment policy that provides you with the twin benefits of long-term savings and life cover. It is a guaranteed plan that allows you to accumulate considerable savings to meet your responsibilities in life. The IDBI Federal Lifesurance Savings Insurance Plan also offers you the benefit of a death cover that provides financial security to your family in your absence.

This plan is also called “Lifesurance”.

This plan is unique and good. There is Guaranteed additions at the rate of Rs. 50 per 1000 fr the first 5 years. After the first 5 years, Reversionary bonuses + Interim bonus (if any) is given every year for the policy completion. And there is Terminal bonus (if any) is added to the plan on the final maturity year.

Maturity Benefit:
On the maturity of your Lifesurance policy, provided all premiums have been paid in full when due, we will pay you the sum insured along with the vested guaranteed additions, vested reversionary bonuses and terminal bonus, if any, in a lump sum.

Death Benefit
On the death of the life insured during the policy term, provided all premiums have been paid in full when due, we will pay the beneficiary the sum insured along with the vested guaranteed additions, vested reversionary bonuses, interim bonus, if any and terminal bonus, if any, in a lump sum.

Guaranteed Additions
Guaranteed additions at the rate 50 per 1,000 sum insured will be added to your policy for each full annual premium that is due and paid in the first 5 years of the policy. In the case of premiums paid more frequently than annually, the guaranteed additions will be added on a pro rata basis as the due premiums are paid in the first 5 years of the policy. The vested guaranteed additions will become payable along with
the sum insured at the time of a claim or maturity of the policy.

Bonuses
After the fifth policy year, your Lifesurance policy will participate in any profits of our participating policyholder’s life fund by way of reversionary bonuses and possibly terminal bonus. The amount of any profits, and hence of any bonuses will depend on the future experience and performance of the fund. The bonuses will be declared by the Board of IDBI Federal Life Insurance Company each year, and once added
they will form part of the guaranteed benefits of the policy.

The Company may declare an interim bonus in the event of a claim before the next bonus declaration. The Company may also declare a terminal bonus to be paid on maturity or death provided all the due premiums have been paid.

Lifesurance provides you the flexibility to choose between four policy terms – 10, 15, 20 or 25 years.

The minimum Premium Payment Term is 5 years for policy terms of 15, 20 and 25 years. The minimum premium payment term is 6 years for a policy term of 10 years. The maximum Premium Payment Term can be equal to the Policy Term.

The minimum premium amount is Rs. 20,000 for annual installments, Rs. 10,000 for half-yearly installments,Rs. 5,000 for quarterly installments and Rs. 2,500 for monthly installments.

• Deduction under Sec 80C: The premiums that you invest in Lifesurance are eligible for deduction under Sec 80C of the Income Tax Act up to the limit of Rs. 1, 00,000 (along with other eligible investments).

• Tax-free Benefits under Sec 10(10D): The maturity benefit as well as death benefit are tax-free under Sec 10(10D) of the Income Tax Act.

• There is also no tax deduction at source.

Advantages for Women
Lifesurance offers an additional premium discount for female insured persons. The basic premium payable for a female policyholder will be equivalent to the premium for a corresponding three-year younger male policyholder.

Edelweiss Tokio Life has launched a new Wealth Creation plan Edelweiss Tokio Life – Wealth Accumulation (Comprehensive Cover). In this plan the highest risk cover is provided in case of death. Along with your Fund Value and chosen Sum Assured, your family will also receive 10% of premium each month for 120 months. The company also offers PE Fund and Managed Fund options in which you need not worry about switching between funds; based on market characteristics your fund allocation will be switched so as to protect growth.

This is the basic plan of the 3 wealth creation plans introduced by Edelweiss Tokio.

Features:
1. Different funds to switch across. There are 6 different funds.
2. Guaranteed Additions is available. This is only available if the Premium Paying term is > 5.
3. Top-up facility to add more to your investments.

Benefits:
Death Benefit: Fund value and Sum Assured OR 105% of basic premium paid .

Surrender Benefit: Fund value will be given to the insurer.

Discontinuance : If the policy is discontinued before 5 years, it will be locked until 5 years of completion. If dis-continued after 5 years, then Fund Value minus any charges related to dis-continuity.

Also read the other 2 related plans for wealth creation.

Edelweiss Tokio Life – Wealth Accumulation (Accelerated Cover)
Edelweiss Tokio Life – Wealth Accumulation (Cover Plus)

Later also read thru the comparison done between the 3 plans.

Edelweiss Tokio Life has launched a new Wealth Creation plan Edelweiss Tokio Life – Wealth Accumulation (Cover Plus). This plan provides the right balance between investment and risk cover. The death benefit is the summation of Fund Value and Sum Assured. The company also offers PE Fund and Managed Fund options in which you need not worry about switching between funds; based on market characteristics your fund allocation will be switched so as to protect growth.

This is the basic plan of the 3 wealth creation plans introduced by Edelweiss Tokio.

Features:
1. Different funds to switch across. There are 6 different funds.
2. Guaranteed Additions is available. This is only available if the Premium Paying term is > 5.
3. Top-up facility to add more to your investments.

Benefits:
Death Benefit: Fund value and Sum Assured OR 105% of basic premium paid .

Surrender Benefit: Fund value will be given to the insurer.

Discontinuance : If the policy is discontinued before 5 years, it will be locked until 5 years of completion. If dis-continued after 5 years, then Fund Value minus any charges related to dis-continuity.

Also read the other 2 related plans for wealth creation.

Edelweiss Tokio Life – Wealth Accumulation (Accelerated Cover)

Edelweiss Tokio Life – Wealth Accumulation (Comprehensive Cover)

Later also read thru the comparison done between the 3 plans.

Edelweiss Tokio Life has launched a new Wealth Creation plan Edelweiss Tokio Life – Wealth Accumulation (Accelerated Cover). In this plan your investment portion is maximized with sufficient cover. The death benefit is the higher of Fund Value and Sum Assured. The company also offers PE Fund and Managed Fund options in which you need not worry about switching between funds; based on market characteristics your fund allocation will be switched so as to protect growth.

This is the basic plan of the 3 wealth creation plans introduced by Edelweiss Tokio.

Features:
1. Different funds to switch across. There are 6 different funds.
2. Guaranteed Additions is available. This is only available if the Premium Paying term is > 5.
3. Top-up facility to add more to your investments.

Benefits:
Death Benefit: Fund value or 105% of basic premium paid or Sum Assured.

Surrender Benefit: Fund value will be given to the insurer.

Discontinuance : If the policy is discontinued before 5 years, it will be locked until 5 years of completion. If dis-continued after 5 years, then Fund Value minus any charges related to dis-continuity.

Also read the other 2 related plans for wealth creation.

Edelweiss Tokio Life – Wealth Accumulation (Cover Plus)

Edelweiss Tokio Life – Wealth Accumulation (Comprehensive Cover)

Later also read thru the comparison done between the 3 plans.