Edelweiss Tokio Life Wealth Ultima Plan

• Premiums as low as Rs.17/day for sum assured of Rs.1 crore*
• Claim up to Rs. 1,50,000 deduction under section 80C**
• Choose between annual and monthly premium payment options

The Wealth Ultima Plan from Edelweiss Tokio Life is a unit-linked life insurance policy, which helps policyholders accumulate wealth over the course of the policy tenure. The key benefit of this policy is that it comes with an optional ‘Little Champ Benefit’. Thus, in case the policyholder passes away during the policy tenure, the policy will continue as per schedule, and the child will be eligible to receive the due policy benefits.

Further, this policy also pays guaranteed additions, booster additions, and loyalty additions, thus increasing the payout offered by the plan. Policyholders can avail tax benefits under Section 80C and Section 10(10D) of the Income Tax Act.

Eligibility - Who is the Wealth Ultima Plan for?

In order to purchase this policy, you will first have to ensure that you meet the eligibility criteria set by the insurer.

Parameters	Criteria for eligibility
Minimum age at entry	With Little Champ Benefit: Life Assured: 0 years Policyholder: 18 years Without Little Champ Benefit: Life Assured: 0 years
Maximum age at entry	With Little Champ Benefit: Premium Payment Term (PPT) Life Assured Policyholder 5 Pay 17 years 70 years 6 Pay and 7 Pay 17 years 70 years 8 Pay 17 years 70 years 9 – 13 Pay 17 years 65 years 14 – 27 Pay 17 years 60 years 28 – 30 Pay 17 years 55 years 31 & Above Pay 17 years NA Without Little Champ Benefit: Premium Payment Term (PPT) Life Assured 5 Pay 50 years 6 Pay and 7 Pay 55 years 8 Pay 60 years 9 – 13 Pay 60 years 14 – 27 Pay 60 years 28 – 30 Pay 60 years 31 & Above Pay 60 years
Minimum age at maturity	Option 1: 5 – 6 Pay: 18 years 7 Pay and above: 18 years Option 2: 5 – 6 Pay: NA 7 Pay and above: 100 years
Maximum age at maturity	Option 1: 5 – 6 Pay: 70 years 7 Pay and above: 70 years Option 2: 5 – 6 Pay: NA 7 Pay and above: 100 years
Plan options to choose from	Option 1: Policies where the age of the life assured at maturity of the policy is 70 years or lesser Option 2: Policies where the age of the life assured at the completion of the policy tenure is 100 years.

Sum Assured and Premium Range - What you get and what it costs?

The sum assured is a guaranteed amount of money that you will receive from the insurer as the death or maturity benefit.

Minimum Sum Assured	Base Policy: 0 – 44 years: Higher of (10, Policy Term/2) X Annualised Premium 45 years and over: Higher of (7, Policy Term/4) X Annualised Premium Top-Ups: 0 – 44 years: 1.25 x Top-up premium 45 years and over: 1.1 x Top-up premium
Maximum Sum Assured	Base Policy: 0 – 44 years: Higher of (10, Policy Term/2) X Annualised Premium 45 years and over: 10 x Annualised Premium Top-Ups: 0 – 44 years: 10 x Top-up premium 45 years and over: 5 x Top-up premium

Premiums*

The premium is a sum of money that the policyholder pays to the insurer, post purchasing an insurance plan.

*Premiums vary based on age, location, plan term, GST, and other factors.

Plan Coverage - What the Wealth Ultima Plan covers?

Exclusions - What the Wealth Ultima Plan doesn’t cover?

This policy comes with a suicide exclusion. If the policyholder commits suicide within a year of purchasing or reviving this policy, the insurer will pay the nominee the fund value of the policy. No other benefits will be paid to the nominee, in this case.

Other Key Features – Free-Look Period, Surrender Value, Grace Period, etc.

Tax Benefits – How you can save with the Wealth Ultima Plan?

Policyholders can avail tax benefits under Section 80C of Income Tax Act for premiums paid and under Section 10(10D) of the same act for benefits received.

Other Benefits – How you can save with the Wealth Ultima Plan?

• Online Policy Renewal: Policies can be renewed online by simply keying-in your policy number and date of birth. Post this, you can pay your renewal premium and renew your policy.
• Customer Service Channels: Customers can contact the insurer by way of the live chat feature on the insurer’s website, requesting for a call-back, calling the insurer’s dedicated toll-free number, etc.
• Range of Plans: The insurer offers a range of life and health insurance plans. Life insurance plans offered by Edelweiss Tokio Life include micro insurance plans, term insurance plans, child plans, investment plans, retirement plans, etc.

Why should you buy the Wealth Ultima Plan from Edelweiss Tokio Life Insurance?

In addition to providing policyholders a risk cover against death, this policy also offers the option of creating wealth by way of investing in market-linked units. Further, the ‘Little Champ Benefit’ offered by the insurer guarantees the financial security of one’s children, in case of an unfortunate eventuality.

Edelweiss Tokio Life was set-up in the year 2011 as a joint venture between Edelweiss Financial Services Limited and Tokio Marine Holdings. The company currently has 91 branches across the country and have employed 21,449 agents. The insurer has also recorded a high claim settlement ratio of 93.29% for FY16-17.