Everyone would like to hit two birds with one shot. That’s exactly what Unit Linked Insurance Plans (ULIPs) have been created to deliver.
ULIPs are designed to provide us the privilege of protection as well as growth in a single investment. In spite of this benefit that ULIPs provide, there is a widespread resentment about investment in these plans.
The major reason for this bitterness and dislike to investment in ULIPs is the high cost involved with it. The high premium allocation, policy administration and fund management charges are what discourage people to invest in these plans.
The astronomically high charges were surely a truth associated with ULIPs earlier but not anymore. The cost of servicing the ULIPs aggregating to between 15% to even 65% of the investment is certainly a thing of the past, but the charges still associated with the premium allocation and administration charges is a dampener for many investors.
If someone says that investment in ULIPs can now be made with zero policy allocation and administration charges throughout the term of your policy, it would be hard to believe.
Hard to Believe; Yakeen Nahi Hota! Right? But that’s the truth. Edelweiss Tokio Life Insurance has introduced a Unit Linked Insurance Plan called Wealth Plus which is totally unbelievable! It’s absolutely #Unyakeenable in real terms.
Wealth Plus is the first ever ULIP in the country which comes with zero allocation and administration charges, which means that 100% of your money is invested in the capital market instruments to provide you the benefit of growth for your entire investment.
If that sounds hard to believe, then you are in for a further surprise. Wealth Plus is a futuristic plan which has not just done away with the charges but actually gives you cash back on your premium payment by way of contribution of additional units on every premium paid.
Now, isn’t that hard to digest! Hard but the truth it is. These additional allocations by the Company start from 1% of the premium payment for the first five years, increasing to 3%, 5%, and 7% respectively for the next three five year tranches, effectively summing up to 80% of one-year premium over a twenty-year premium paying term thereby accelerating your wealth accumulation.
An additional feature of the Wealth Plus Plan is the Rising Star benefit wherein an adult proposer can invest in the name of his/her minor child, and a lump sum amount is immediately paid to the family in the event of the demise of the proposer. The awe feature does not just end here. All future premiums payable get immediately invested in the fund and additional allocations being added annually as and when due which would make the corpus grow faster to ensure that the child’s future is protected.
Conceptualised on the basis of customer feedback along with PolicyBazaar to cater to their specific needs of protection and growth, this plan gives you an option to choose either one of the two investment strategies based on you profile and risk appetite.
While the financially savvy customers could choose to go for the Self-Managed Strategy with a choice of fund(s) where your money will be allocated, others can opt for the Life-stage and Duration based Strategy where the Company manages the asset allocation based on the investor’s age and remaining years to policy maturity.
Whatever may be the needs, Wealth Plus ensures that it will take care of one’s financial goals at various life stages; be it future wealth, saving for retirement, family protection or any other important milestone.
This is a ULIP fund which brings out the possible out of the impossible. One which achieves the unachievable, finally convincing you to expect the unexpected; it is a fund which will make you believe the unbelievable.