Long Term Investment Goals with Tax Saving Option

With all the different types of long term investment products with tax saving option available in the market, planning your investments yourself can be both challenging and rewarding. Challenging because you can end up with a wrong product for a minimum of 3-5 years and rewarding, because you get the freedom to choose from the myriad of options.

However, choosing a product yourself is something that is easier said than done. Right from the flexibility, safety, to the returns, everything needs to be thoroughly analyzed before making a decision. ULIPs are time-tested investment option for people who are looking for long term investments with tax saving option.

What are ULIPs?

ULIPs are Unit Linked Insurance Plans. It is an insurance product that provides you with risk cover as well as the opportunity to make investment in qualified investment instruments, like equity funds, debts, etc. The premiums can be paid on an annual, quarterly or monthly basis and an amount from the premium will go towards the life insurance, whereas, the rest will be invested just like a mutual fund.

Just like its other famous products for Planned Future, Edelweiss Tokio also offers an excellent ULIP product called Wealth Accumulation (Accelerated cover)

Overview of Wealth Accumulation Policy

Wealth Accumulation (Accelerated Cover)from Edelweiss Tokio allows you to accumulate your wealth for your future goals, like buying a house, going on a luxurious vacation, etc. Moreover, you get the facility to switch the investment instrument to get better returns. Apart from this, it also provides you with a risk cover to ensure that your loved ones are financially stable in case of your premature death.

Key Benefits of Wealth Accumulation Policy

Maturity Benefit- Total value of the fund is paid at the end of the policy term. The holder of the policy can get this maturity proceeds in the instalments or a lumpsum amount.

Death Benefit- In case of the premature death of the policyholder, the beneficiary will be paid through one of the below mentioned options-

  • Total sum assured along with the top up sum
  • Total value of the fund along with the value of the top up funds on the date on which the claim is made
  • 105% of the total premiums paid by the policyholder along with the top up premiums until the death

Among the above mentioned options, the option that carries the highest value will be paid to the beneficiary.

Tax Benefits- Tax benefits can also be availed under Section 10 (10D) and Section 80C of the Income Tax Act of 1961.

Easy Online Management- As the policy is available online, you can buy, manage, report a claim, and renew the policy right from the comforts of your home.

The brochure, Eligibility Criteria, and Sample Contract for Wealth Accumulation (Accelerated Cover) can be found on- https://www.edelweisstokio.in/product/planned-future/wealth-accumulation