Ryan used to live with his father alone. He loves playing football and his father always encourages him. His father never missed a game. Even though his son would always on the bench, yet his father would always be there in stands cheering him.
The journey of life is filled with memorable events like buying a house, getting married; having children and watching them grow to be confident young men and women. However, each of these events requires a lot of hard work and planning.
When Ryan entered high school he was very determined about playing football and despite being a bench warmer for all your years, he never missed even a single practice or game. Then the time came when Ryan got a chance to play for the city club but this require a fees which fortunately Ryan’s father had in hand but what about future. He has to save a huge amount of money to secure his child’s future and his dream of becoming a star in football. But what will happen to Ryan’s dream if his father leaves him alone. Ryan’s father unfortunate demise can spoil all his dreams.
Finances play a huge role in ensuring that the goals and dreams of your loved ones come to fruition. Parents always endeavour to give their children an opportunity or a platform to be able to spread their wings and fly as high as they can. These wings are the wings of education and skills and they need the fuel of carefully planned finances.
There are many investment options available today – equities, mutual funds, fixed deposits, etc. However, the new age online Unit Linked Insurance Plans (ULIPs) help you achieve your goals effectively while offering an additional benefit of an insurance cover but here is a plan which is a combination of investment+life cover+secure child’s future ( Rising Star Benefit) in your absence. This is Edelweiss Tokio Wealth Plus.
Edelweiss Tokio Life Wealth Plus is a unit-linked insurance plan (Ulip) by Edelweiss Tokio Life and offers the option of a child plan. This is a one of its kind insurance plan that offers unbelievable benefits to its customers. This Unit Linked Insurance Plan has no premium allocation charges. Apart from this, it doesn’t have policy administration charges too. The only thing the company expects from the policyholder is to stay invested and pay the premium on time.
This plan also offers Rising Star Benefits and other benefits. Also, apart from 100% allocation of your premium during the paying term period, one will also get additional allocation every year. The extra allocation will be added in the first 5 years of the policy along with your premiums paid. Premium boosted will be added after the first 5 years at the end of each policy year. This means 1 to 5 years, 1% of premium will be paid, 6 to 10 years it’s 3%, 11 to 15 years it’s 5% and 16 to 20 years, it’s 7%.
Let’s now talk about the Rising Star Benefit. This is a plan for children of the policyholder where in case of the death of the policy holder, a lump sum amount will be paid on an immediate basis. No changes will be made to the future extra allocation and premium booster. All the future premiums will be added by the company immediately thereby boosting the maturity value.
This plan also offers flexibility where partial withdrawals can be made; change in premium paying term is possible along with unlimited free switches between funds, unlimited premium redirection and unlimited opt-in and opt-out options between the investment strategies.
If one wants to ensure that the child’s future financial needs are taken care of even in one’s absence, then one should definitely opt for Rising Star Benefit. As soon as the death of the parent takes place, a lump sum amount is paid immediately to the child.
If your child desires to become a doctor or an astronaut, then you should be financially prepared to support the costs of higher education. Edelweiss Tokio Wealth Plus can help you achieve that effectively. If your child is a superstar you need to secure him with rising star!