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A Plan That Gives You a ‘Cherry on the Top'!

  10/16/18 5:30 AM

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Just like everyone, Reema had life goals like purchasing her dream car, dream holiday, dream house, building a corpus of a crore and so on. Reema is a young working woman who loves her family, fulfils her responsibilities towards them and also aims at achieving high goals in life.

Reema was looking for a plan that would give her the best of both worlds insurance as well as investment. That’s when she considered Unit Linked Insurance Plan also known as ULIP. She found it an ideal product that offers the joint benefits of a life cover and investment. Hence, the premiums invested in a ULIP plan have a twofold function. The former is life cover, where a death benefit is paid to your family members in your absence. The latter function is the investment, where your money is invested in market-linked investment instruments, on completion of the policy term she would receive the returns in the form of a maturity benefit. This amount will help her in achieving her goals in life.

Reema was convinced that she needs to invest in ULIP but she was confused which plan was suitable for her needs. While she was researching online she came across Edelweiss Tokio Life Wealth Plus. Since a schedule was busy the first thing that caught her eye was that it could be purchased online at her convenience. This induced her to further look at its detailed benefits.

What she noticed was that it was the only plan where the company would also invest with her in the form of an additional allocation which would increase at regular intervals. For the first 5 years, it would be 1% p.a. of yearly premium paid and by the time the policy would cross 7% p.a. of yearly premium paid. She also observed that it didn’t have any allocation or administration charges so 100% of her premium amount would be invested plus the unlimited switches can be made which is free of charge.

The additional allocation which would give her good returns added to tax exemption benefit on both premium paid and returns seemed like a cherry on the top. Reema then immediately consulted her financial advisor as well and her financial advisor was also thrilled knowing the benefits. She asked her to go for it!

Reema chose a single plan that can give her multiple benefits. Have you invested in a plan to fulfil your future goals wisely?

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