MUMBAI, April 2, 2020 /PRNewswire/ -- As global investors turn risk averse amid ongoing market volatility, guaranteed returns plans like Edelweiss Tokio Life's GCAP are emerging as attractive instruments to bolster savings during this period of continued uncertainty.
With a simplified product structure, Edelweiss Tokio Life's GCAP enables stable wealth accumulation and offers guaranteed returns even during short-term market volatilities. It offers the benefit of a life cover and upfront guaranteed benefits. With a premium payable as low as Rs. 1,500, the product is affordable and offers flexibility in terms of premium paying terms.
The benefits of the plan can also be enhanced through riders like waiver of premium, critical illness, and disability. The policyholder can also avail a loan facility to meet any exigent requirements. The plan also offers additional benefits from the 9th year of the policy through guaranteed accrual additions.
The current market scenario has emphasised the need for individuals to reconsider their financial portfolio. Alternate savings options like Edelweiss Tokio Life's GCAP have become crucial in these testing times that pose a risk to customers who have traditionally relied on deposits and corporate bonds. The declining interest rate scenario in India further accentuates the appeal of long-term committed returns of Edelweiss Tokio Life's GCAP.
All premiums paid are eligible for deduction from taxable income under section 80(C) and the maturity amount is also eligible for deduction from taxable income under section 10(10D).
About Edelweiss Tokio Life Insurance:
Edelweiss Tokio Life Insurance is a joint venture between Edelweiss Financial Services, among India's leading diversified financial services companies, and Tokio Marine Holdings Inc, one of the oldest and largest insurance companies in Japan. Edelweiss Tokio Life Insurance launched its pan-India operations in July 2011, offering proprietary need-based solutions to help customers meet their life stage financial goals. Its lineage brings together a deep understanding of customer needs and international expertise. The company is headquartered in Mumbai serving over 2.02 lakh customers through 43,681 personal finance advisors as on March 31, 2019, across 121 branches in 93 major cities.
Edelweiss Tokio Life Insurance has been consistently recognized for its Product Innovation capabilities at several forums, namely Outlook Money Award for Best Life Insurer 2016, Golden Peacock Awards 2018, Golden Globe Tigers Awards and ET NOW - BFSI Awards for Best Product Innovation 2018, Times National Award for Marketing Excellence 2018, India Insurance Summit 2019 and Skoch Awards 2019.
To learn more about Edelweiss Tokio Life Insurance, please visit www.edelweisstokio.in
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