BackSecure your income with Edelweiss Tokio Life’s Premier Guaranteed Income Plan
Edelweiss Tokio Life Premier Guaranteed Income solution is a guaranteed income plan that comes with a life cover and offers tax benefits too. You can customize this plan to suit your financial goals.
PremiumThe Covid-19 pandemic has caused an increased uncertainty in the country as several families have seen an erosion in their savings. Hefty hospital bills due to unexpected medical exigencies or relying on savings to fulfil monthly expenses in the aftermath of salary cuts or loss of employment has permanently shifted the customer mindset towards financial planning.
In these transient times that we are living in, with the third wave hanging over us, most families are looking at ways and means to save for a rainy day to ensure their families are financially secure in the face of any adversity that may come their way in the future.
One such solution is Edelweiss Tokio Life - Premier Guaranteed Income plan, a guaranteed income plan that comes with a life cover and offers tax benefits too. It offers assured returns and income even in uncertain times and security for financial needs in the future, making it a well-suited option for risk-averse individuals.
You can determine the amount according to the end financial goal, which would be a corpus to provide for your monthly expenses after retirement or to pay for your child’s higher education after they attain the age of 18 or to prepare for any exigency. Whatever be the goal, short term or long term, there is a plan to facilitate that and make it happen.
The best part about this plan is that it is not one size fits all. This means that you can customize it according to your financial requirements and pick one of the four options – lump sum, short term income, long term income or retirement income.
The lump sum option is for those looking to build a corpus for the future. You can choose for a term of 10 to 20 years in different combinations, with a guaranteed maturity benefit that is offered.
In the short-term income option, you can sign up to get a regular amount of money at fixed intervals which starts getting paid out to you two years after completion of the Premium Paying Term (PPT). The total duration of the policy can be set at 18, 22, or 26 years, including the income pay out duration.
The third option is to create a means for regular income for the long term, where a regular sum of money will be paid out to you at fixed intervals for the long term. Unlike the short-term option, where the maximum tenure is 26 years, in this option it can be increased to 42 years. You can choose a policy term of 22 to 42 years in varied combinations according to your financial goals.
Edelweiss Tokio Life - Premier Guaranteed Income plan also has a retirement plan option, something that a lot of us in the private sector want to build for ourselves. The plan is for those who want to create a buffer of savings for their old age to cover their living expenses as well as medical needs. In this plan, the maturity benefit is only offered on survival and the policy term is 80 years minus your age when you start the plan. This effectively means that you are assured of a pay out in your non-working years, till you turn 80 years of age.
After selecting the plan, you can opt for the Family Income Benefit for Critical Illness or Family Income Benefit for Critical Illness or Death options, which ensures economic continuity for your loved ones in case of an unforeseen event such as death or a critical illness of the policyholder. The benefits you have signed up for as part of this plan will continue to flow in as per the timelines you have picked at the time of inception.
This is not all! The plan also offers optional riders that you can opt for as top ups for enhanced protection in case of critical illness, disability, or accidents. These include:
1. A critical illness rider which secures you and your nominees if you get diagnosed with an illness like cancer of specified severity, open heart replacement, paralysis of limbs, coma of severity, among a list of 32 such illnesses on the list.
2. The waiver of premium rider can also provide an added relief in case the above-mentioned circumstances befall you.
3. In case of sudden hospitalisation, there is a daily cash benefit of ₹1,000 to ₹6,000 that you can get to help you and your family tide over tough times in the recovery phase. This is beneficial in today’s times where the costs that come with recovery and rehabilitation come as a major blow to monthly budgets of families. The Edelweiss Hospital Cash Benefit can help you here.
4. You can also opt for the Accidental Death Benefit Rider that offers financial security in the form of an additional life cover to your loved ones in case of loss of life in an accident.
5. Another rider, which is the Accidental permanent disability rider, offers a lump sum amount to manage your expenses in case an accident leaves you in a state where you can’t work.
The plan also comes with tax benefits as the premiums you pay upto a value of ₹46,500 are eligible for deductions under section 80 (C) and the income you get has tax benefits under section 10 (10D).
Before you start buying, it is imperative to know what your end financial goals are. The process of buying the plan becomes even simpler, when you have absolute clarity and alignment with the financial objectives you are trying to fulfil through such a purchase.
So, what are you waiting for? Secure your future income with the Edelweiss Tokio Life Premier Guaranteed Income plan today.
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