Edelweiss Tokio Wealth Builder Insurance,Wealth Builder Insurance

Wealth Builder Investment Insurance Overview

Key Features
Eligibility
Benefit Description

Features of Wealth Builder Investment Insurance

Some of the key features under this plan include:

Secure one's family's financial future through comprehensive life insurance cover
All the benefits are guaranteed upfront
Simplified product structure for easy understanding
Additional benefits through Guaranteed Loyalty Additions
Extra benefit for higher premium
Loan facility to meet any urgent / unforeseen liquidity requirements
Option to make your insurance cover more comprehensive through riders
Tax Benefits : Under Section 80C and Section 10 (10D) of Income Tax Act, 1961

Eligibility Criteria of Wealth Builder Investment Insurance

Large Premium Benefit An additional benefit is available on Maturity if Annualised Premium is Rs. 96,000 or more. For every Rs. 24,000 in excess of Annualised Premium of Rs. 72,000, an additional benefit as summarized in the table given below is payable.

Minimum Entry Age (Last Birthday)	3 Years
Maximum Entry Age (Last birthday)	55 Years
Minimum Maturity Age (Last birthday)	18 years
Maximum Maturity Age (Last birthday)	70 Years
Policy Term (PT)	10 and 15 Years
Premium Paying Term (PPT)	5, 7 and 10 Years
Premium Payment Frequency	Annual, Semi-annual, Quarterly, Monthly
Minimum Premium*	Annual: Rs 48,000
	Semi-Annual: Rs 24,576
	Quarterly: Rs 12,480
	Monthly: Rs 4,224
Policy Term	Additional Benefit on Maturity (in Rs.) (per Rs.24,000 Annualised Premium exceeding Annualised Premium of Rs.72,000)
10	2,500
15	5,000

Note:

For Policy Term 10 years, only 5 pay and 7 pay PPT are allowed.
* - Annualised Premium is the premium payable in a year, excluding the loadings for modal premiums and underwriting extra premiums, if any.

Benefit Descriptions of Wealth Builder Investment Insurance

Guaranteed Loyal Additions

The product offers Guaranteed Loyalty Additions (‘GLA’). The amount of GLA depends on Annualised Premium, Policy Term, Premium Paying Term, Entry Age and the Gender of the Life Insured. The GLA is accrued at the beginning of the policy year during the accrual period and is expressed as a percentage of cumulative ‘Annualised Premiums’ paid up to previous policy year. The accrual period for various policy terms is as per the table given below. The accrued GLA is payable on death or maturity

Policy Term	GLA Accrual Period
Policy Term	From Year	To Year
10	9	10
15	11	15

Guaranteed Loyalty Addition rate for female lives:

Up to Age 10 : Same rate as Male of same age
Age 11 & above : Same rate as 3 year younger Male

Death Benefit Sum Assured on Death plus Accrued Guaranteed Loyalty Additions, if any, accrued till the date of death will be payable to Nominee. Sum Assured on Death is higher of:

10 times of Annualised Premium or
Sum Assured on Maturity plus Large Premium Benefit, if applicable or
105% of total premiums paid till date of death or
Any absolute amount assured to be paid on death

Any absolute amount assured to be paid on death will be equal to 10 times of Annual Premium. Maturity Benefit Sum Assured on Maturity plus Guaranteed Loyalty Additions on Maturity plus Large Premium Benefit, if applicable
Where Sum Assured on Maturity is equal to cumulative Annualised Premium = PPT x Annualised Premium

Non Forfeiture Benefits

Premium Discontinuance

For Premium Paying Term of 5 and 7 years
If the Premiums for at least first two policy years have not been paid in full within the Grace Period, the policy shall immediately and automatically lapse and no surrender value or reduced paid-up benefits shall be payable by the insurance company under the policy.

If the premiums for at least first two policy years have been paid in full, and if the insurance company does not receive your subsequent premiums within the Grace Period, the policy will acquire reduced paid-up status and benefits will continue as per the reduced paid-up provision. The will be given two years from the due date of the first unpaid premium to revive your Policy.

For Premium Paying Term of 10 years
If the premiums for at least first three policy years have not been paid in full within the Grace Period, the policy shall immediately and automatically lapse and no surrender value or reduced paid-up benefits shall be payable under the policy.

If all the premiums for at least first three policy years have been paid in full, and if the insurer does not receive your subsequent premiums within the Grace Period, the policy will acquire reduced paid-up status and benefits will continue as per the reduced paid-up provision. The insured will be given two years from the due date of the first unpaid premium to revive your Policy.

Paid Up Benefits

For Premium Paying Term of 5 and 7 years

If all premiums for first two policy years have not been paid in full, then paid-up value is nil.
If all the premiums have been paid for at least first two policy years then the policy will continue as a reduced paid-up policy and all the benefits shall be reduced proportionately.

For Premium Paying Term of 10 years

If all premiums for at least first three policy years have not been paid in full, then paid-up value is nil.
If all the premiums have been paid for at least first three policy years then the policy will continue as a reduced paid-up policy and all the benefits shall be reduced proportionately.

All the benefits will be multiplied by a Paid-up Factor where Paid-up Factor = (Number of premiums paid/ Number of premiums payable)

Death Benefit On death, the paid-up benefits will be equal to Paid-up Sum Assured on Death plus Paid-up Guaranteed Loyalty Additions on Death, if any, Where,

Paid-up Sum Assured on Death = Sum Assured on Death x Paid-up Factor.
Paid-up Guaranteed Loyalty Additions on Death = Guaranteed Loyalty Additions accrued till the date of death * Paid-up Factor.

Maturity Benefit
On Maturity Date, the paid-up benefits will be equal to Paid-up Sum Assured on Maturity plus Paid-up Guaranteed Loyalty Additions on Maturity plus Paid-up Large Premium Benefit, if any. Where,

Paid-up Sum Assured on Maturity = Sum Assured on Maturity x Paid-up Factor
Paid-up Guaranteed Loyalty Additions on Maturity = Guaranteed Loyalty Additions on Maturity x Paid-up Factor Paid-up Large Premium Benefit = Large Premium Benefit x Paid-up Factor

Premium Discontinuance before acquiring Reduced Paid-Up status

For Premium Paying Term of 5 and 7 years:
If the Premium has been paid in full for at least one policy year but not for two policy years, then on Premium Discontinuance, the premium paid excluding underwriting extras and rider premium, if any, will be refunded, either at the time of intimation of death of the life insured or on maturity of the policy, whichever is earlier. In case of such Premium Discontinuance, the policyholder has the option to terminate the policy prior to maturity and the Early Termination Benefit will become payable.

For Premium Paying Term of 10 years:
If the premium has been paid in full for at least one policy year but not for three policy years, then on Premium Discontinuance, the premium paid, excluding underwriting extras and rider premium, if any, will be refunded, either at the time of intimation of death of the life insured or on maturity of the policy, whichever is earlier. In case of such Premium Discontinuance, the policyholder has the option to terminate the policy prior to maturity and the Early Termination Benefit will become payable as mentioned below.

Early Termination Benefit:
Early Termination Benefit is payable on termination of the policy and is calculated as a specific percentage of total premiums paid excluding underwriting extras and rider premium.

Surrender Benefit

For Premium Paying Term of 5 and 7 years:
The policy will acquire Surrender Value only from 2nd Policy Year provided we have received full premiums for the first two Policy Years.

For Premium Paying Term of 10 years:
The Policy will acquire Surrender Value only from 3rd Policy Year provided we have received full Premiums for the first three Policy Years.

On receipt of a written request for Surrender from the insured, the insurance company will pay the higher of Guaranteed Surrender Value or Special Surrender Value.

Policy Loan Benefit

The insured may take a loan under the policy by giving us a written request; provided that the policy has acquired the Surrender Value. The maximum loan amount you may avail will vary for different Premium Paying Terms. It would be a percentage of Surrender Value (as given in the below Table) applicable under the Policy when a request for a loan is received less any outstanding Policy Loan plus accumulated/accrued interest, if any, on that date.

Premium Paying Term (Years)	% of Surrender Value
5	70%
7	75%
10	80%

Enhanced Protection through Riders

A rider is an add-on provision to the base plan. Riders can help in making the plan more comprehensive by paying an additional premium. Riders can be added at the inception of the policy or at policy anniversary during the Policy Term subject to underwriting and terms and conditions of the riders and the product.

Following riders are available with this plan:

Income Benefit Rider : This rider will make sure that the insured’s family has a backup source of monthly income even in the insured’s absence.
Payor Waiver Benefit Rider : This rider waives future premiums in case of death, Critical Illness or total and permanent disability due to accident of the proposer (payor) so that the Life Insured continues to get the benefits.
Accidental Death Benefit Rider : This rider provides for additional financial security in case any death occurs due to accident. Also, the benefit is payable in lumpsum.
Accidental Total and Permanent Disability Rider : This rider provides the insured with a lump sum to cater to any immediate expenses in case the insured’s income earning capacity is hindered due to an accidental disability (total & permanent).
Term Rider : This rider provides the insured with a lumpsum amount in addition to the base plan cover to provide increased security to the dependent family.
Waiver of Premium Rider : This rider waives of future premiums in case the insured suffers from Critical Illness or total and permanent disability due to accident.
Critical Illness Rider : This rider provides the insured with a lumpsum to cater to any immediate expenses in case the insured’s income earning capacity is hindered in the event of critical illness.

Free Look / Grace Period

15 / 30 days

Investment Funds for Self Managed Investments

Equity Large Cap Fund	To provide high equity exposure targeting higher returns in the long term.
Equity Top 250 Fund	To provide equity exposure targeting higher returns (through long term capital gains)
Equity Mid-Cap Fund	To provide equity exposure targeting higher returns in the long term, by largely investing in Midcap Companies
Managed Fund	This fund uses the expertise of the Company's fund manager to decide on the asset allocation between Equity and Debt / Money market instruments along with stock selection.
Bond Fund	To provide relatively safe and less volatile investment option mainly through debt instruments and accumulation of income through investment in fixed income securities.
Equity Blue Chip Fund	The objective of the fund is to provide long-term capital appreciation by predominantly investing in an equity portfolio of large cap stocks.
Gilt Fund	This fund will aim to provide accumulation of Income and capital appreciation through investments predominantly in Government Securities

Wealth Builder Investment Insurance

Edelweiss Tokio Life insurance review

Wealth Builder Investment Insurance Overview

Features of Wealth Builder Investment Insurance

Eligibility Criteria of Wealth Builder Investment Insurance

Benefit Descriptions of Wealth Builder Investment Insurance

Investment Funds for Self Managed Investments

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