Edelweiss Tokio Life – Wealth Builder is an endowment plan that gives you guaranteed benefits upon maturity in return for periodic payments that you make to the life insurance company. The benefits of this policy are:
1. Guaranteed benefits
At the time of buying the policy, you will be aware as to what is the amount that you’ll receive at the time of maturity of your policy. This is a great advantage for long-term investors who want to plan for a definite goal, like children’s education, buying a bigger house etc.
2. Guaranteed loyalty additions
This is a kind of additional payout which the nominees receive in case of death of the policyholder. This is over and above the Sum Assured. This depends on the annualized premium, policy term, premium paying term, entry age and gender of the policyholder.
3. Returns of 8.8%
A return of 8.8% is definitely better than what the F.D’s can give you. It is a good avenue for long-term investment.
4. Loan available
A loan on the policy is available once the policy acquires a surrender value. Maximum loan amount is 90% of the surrender value. This is good if you are in need of funds for the short-term.
5. Surrender value
The policy generates a surrender value from the second year onwards. This provides a ready source of cash in case you need money for an emergency. Although surrenders are permitted, but the are not advised as a life insurance contract earns you money over the long-term.
6. Mix of insurance & investment
Edelweiss Tokio Life – Wealth Builder is a good mix of insurance & investment. It kills two birds with one stone. It not only gives your family financial protection against your untimely demise, but if you outlive the policy, also provides you returns on your investment. Also, the returns are guaranteed at the time of inception of the policy.
7. Limited premium payment term
You have the choice of choosing a premium payment term that is less than the policy term. So, for instance, if you are a celebrity or in an occupation like merchant navy where the earning life is limited, you can opt for paying a higher premium for a lesser number of years and enjoy the benefit of a longer term for accumulation of returns.
The above features make Edelweiss Tokio Life – Wealth Builder an appropriate avenue of investment for long-term investment goals. So, if you want to make plans for your children’s education, buying a new house, planning for a dream vacation, this policy can help you plan for the funds that you need to provision for.
