MUMBAI, May 27, 2020 /PRNewswire/ -- With the ongoing pandemic compelling everyone to re-examine their financial portfolios, people are now focusing on goal-based planning to protect the dreams and aspirations of their loved ones. ULIPs like Edelweiss Tokio Life - Wealth Secure+ are gaining more attention as parents look for secure ways to plan their child's future.
Edelweiss Tokio Life - Wealth Secure+ offers a Child variant, wherein on the death of the policyholder, his or her child receives a lumpsum payout. The remaining benefits of the plan continue until the end of the policy tenure.
Another attractive benefit of this plan is its '5 pay 5 stay' option which allows the policyholder to plan effectively for shorter-term goals like child's education. The disciplined and structured wealth accumulation over 5 years helps build a corpus that can support the monetary requirements to support expenses towards a child's education.
Moreover, this plan starts at just Rs. 1,000 per month which makes it convenient to save even in times of such uncertainties. This affordability feature is what makes Wealth Secure+ most relevant during the ongoing pandemic, which has led to cashflow crunch for many.
Wealth Secure+ also offers systematic savings and withdrawals, flexibility to choose the premium paying term and pay-out frequency. This makes it an ideal instrument to plan for a child's education not only in the short term but also in the longer term.
It is also advisable to consult an expert or conduct research to determine the right financial requirement for a child's education. It is crucial to understand factors like inflation and its impact on tuition fees in the future, along with the cost of living in another city or country and more before buying.
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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