Edelweiss Tokio Insurance Plans

Wealthgain Plus Investment Insurance

In today’s dynamic and ambitious world, most individuals are reaching for the stars but unfortunately are stretching themselves and their lives to limits quite unheard off. Most want to make the most of their achievements by enjoying a good lifestyle while planning for some big moments and important milestones in their lives.
One may want to enjoy an early retirement or an international education course for their child or a reasonably large corpus when they finally decide to call it a day professionally. But sometimes life could have other plans and one could have an unfortunate untimely incident in their lives leading to financial instability for the family. Hence it is important to plan to protect and secure the family’s financial stability. Wealthgain+ is a Unit Linked Non-Participating Life Insurance Plan which provides life cover which will be useful to the insured’s family in case of unfortunate demise of the Life Insured.
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Edelweiss Tokio Life insurance review

Edelweiss Tokio Insurance Plans
Distribution - Number of branches pan India (March 2019)
123
Entry Age Minimum/Maximum (Years) - Term Plans
18/65
Sum Assured Minimum / Maximum - Term Plans
25 lacs / Unlimited
Policy Term Minimum / Maximum (Years) - Terms Plans
10/62
Solvency Ratio (FY 2018-19) *
2.29
Number of Policies Sold (Ind+Group) *
79,913
Number of Lives Covered (Ind+Group) **
266,160
Claims Settlement Ratio (Ind+Group) ***
98.41%
* - As per IRDAI data 2018-19 - The solvency ratio of an insurance company is the size of its capital relative to all the risk it has taken, which is all liabilities subtracted from total assets. In other words, solvency is a measurement of how much the company has in assets versus how much it owes
** - as per L-25 Public Disclosure of Insurance Companies for 2019-20  |  *** - Claims Settlement Ratio = Claims Settled in the year / Claims Reported in the year - as per IRDAI data published

Wealthgain Plus Investment Insurance Overview

  • Key Features
  • Eligibility
  • Benefit Description
  • Investment Funds

Salient Features of Wealthgain Plus Investment Insurance

Some of the key features include :
  • Death Benefit : In case of unfortunate demise of Life Insured while the Policy is In-Force, your nominee will get the Death Benefit.
  • 0% Allocation Charges : The entire premium amount is allocated to the funds with NIL deduction of allocation charges.
  • 2 New Fund Offering : The Equity Blue Chip and Gilt funds have been added to the existing fund offerings to cater to different types of investors depending on their risk appetite.
  • Return of Mortality Charge : On the maturity date, 100% of the total amount of mortality charges deducted during the policy term will be added back to the fund value.
  • Booster Additions : A percentage of last 60 month’s average of daily fund value is added at the end of 15th policy year and 20th policy year.
  • Loyalty Additions : A percentage of fund value will be added to the fund Starting from the end of 10th policy year and applicable every year till the end of the premium paying term.
  • Maturity Benefit : At the end of the Policy Term, on survival the insured will receive the Fund Value as your Maturity Benefit.
  • Investment Strategies : Two strategies to cater to your various investment needs.

Eligibility Criteria of Wealthgain Plus Investment Insurance

Eligibility Conditions Minimum Maximum
Entry Age (last birthday) 0 years 45 years (for Premium Paying term less than 10 years)
50 years (for Premium paying term greater than equal to 10 years)
Maturity Age (last birthday) 18 years 70 years
Policy Term 10 years 20 years
Premium Paying Term
Limited 5 years Policy Term minus 1
Regular Equal to policy term Equal to policy term
Sum Assured Higher of (10, Policy Term/2) X Annualised Premium Higher of (10, Policy Term/2) ) X Annualised Premium
Top-up Sum Assured (based on attained age) 1.25 x Top-up Premium 1.25 x Top-up Premium
Annualised Premium Policy Term PPT (₹) No Limit
5 – 9 years >=10 years
10-14 years 48,000 36,000
15-19 years 36,000 30,000
20 years 24,000 18,000
Top up Premium ₹5,000 Top up Premium At any point of time the total top-up premiums paid shall not exceed the total of the base premiums paid at that point of time.

Benefit Descriptions of Wealthgain Plus Investment Insurance

Death Benefit Regular Policy In case of unfortunate demise of Life Insured while the Policy is In-Force, the Death Benefit payable to the nominee will be – Higher of:
— Fund Value or
— Sum Assured less Relevant Partial Withdrawals or
— 105% of total premiums paid
(+)
Higher of:
— Top-up Fund Value; or
— Top-up Sum Assured; or
— 105% of total Top-up Premiums paid.

Reduced Paid Up Policy In case of unfortunate demise of Life Insured while the Policy is Force, the Death Benefit payable to the nominee will be – Higher of:
— Fund Value or
— Paid Up Sum Assured less Relevant Partial Withdrawals or
— 105% of total premiums paid
(+)
Higher of:
— Top-up Fund Value; or
— Top-up Sum Assured; or
— 105% of total Top-up Premiums paid.
Loyalty Additions The Loyalty Additions are applicable for premium paying term greater than or equal to 10 years. Starting from the end of 10th policy year and applicable every year till the end of the premium paying term, Loyalty Additions will get added to the insured’s Fund Value.
This will be done at 0.11% of last 12 month's average of daily fund value (Including Top-up Fund Value)
Booster Additions Booster Additions are added at the end of 15th policy year and 20th policy year as follows:
  • End of 15th Year : 0.50% of last 60 month's average of daily fund value (Including Top-Up Fund Value)
  • End of 20th Year : 0.75% of last 60 month's average of daily fund value (Including Top-Up Fund Value)
The total fund value including the Loyalty Additions, if any and Boosters Additions already added till previous policy year will be considered to calculate the future Booster Additions. Booster Additions will be added in the same proportion as the total fund value held in the unit linked funds at the time of additions and will form part of the fund value.

Booster Additions will not be added if the Policy is in the Reduced Paid-Up status and during the Revival Period. In case of Revival of the Policy, Booster Additions, will commence from the end of the Policy Year in which the Policy is revived.
Return of Mortality Charge On survival till maturity date, the total Mortality Charges (excluding extra mortality charges due to sub-standard life and taxes as applicable) deducted during the Policy Term will be added to the fund value at the maturity date.
The Return of Mortality Charge is subject to following conditions:
  • All the due premiums payable under the policy are paid till the maturity date.
  • The amount of Return of Mortality Charge will be added in the same proportion as the fund value held in the unit linked funds at maturity. NAV applicable as on the maturity date will be used for the unitization, if applicable.
  • Return of Mortality Charge also include the mortality charges deducted from the Top-up fund value.
  • Return of Mortality Charge is not applicable for reduced paid-up policy.
Maturity Benefit At the end of the Policy Term, on survival the insured will receive the Fund Value as your Maturity Benefit. They have an option to collect your Maturity Benefit in lump sum or in instalments (yearly, half-yearly, quarterly or monthly instalments)) by choosing an appropriate Settlement Option.
Surrender Benefit At any time during the Policy Term, the insured can choose to surrender the Policy.
  • If the surrender request is received before the completion of first 5 policy years, the fund value net of discontinuance charge shall be credited to the discontinued policy fund. Thereafter the treatment will be as mentioned under ‘Treatment of Policy while in Discontinuance Policy Fund’ and ‘Policy Revival’ section.
  • If the surrender request is received after the completion of first 5 policy years, you shall be entitled to the fund value as on date of surrender and the policy will terminate.

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

Brochure

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Policy wordings

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